Feronia Inc. Commences 5,000 Hectare Replanting for 2014
March 17 2014 - 5:33AM
Marketwired
Feronia Inc. Commences 5,000 Hectare Replanting for 2014
TORONTO, ONTARIO--(Marketwired - Mar 17, 2014) - Feronia Inc.
("Feronia" or the "Company") (TSX-VENTURE:FRN) is pleased to
announce that it has commenced its 5,000 hectare oil palm
replanting for 2014.
Replanting commenced on March 15 and is expected to be completed
in November.
Through replanting old palms with new, Feronia is able to
increase its productive areas at far lower costs than through
greenfield planting and with zero deforestation or displacement of
local communities. Feronia has no reliance on deforestation for
growth.
Feronia currently has 20,759 hectares of oil palm planted of
which 9,723 hectares are producing and 11,036 hectares immature.
This is the first year that trees planted by Feronia since it
acquired its palm oil business from Unilever in September 2009 come
into production, with 1,027 hectares planted in 2010 now producing
fresh fruit bunches.
Commenting, Ravi Sood, Executive Chairman of Feronia Inc. said:
"Replanting 5,000 hectares in a year is a considerable task but
we proved last year that we have the people and
skills to achieve this.
"Our planting programme is a major value
driver for Feronia and the key to our production growth. By the end
of 2014 we expect to have replanted over 17,000 hectares which is
rapidly reducing the age profile of our plantations and will, over
the coming years, increase our yields."
About Feronia Inc.
- Feronia Inc. is a large-scale commercial farmland and
plantation operator in the Democratic Republic of the Congo
("DRC").
- The Company uses modern agricultural practices to operate and
develop its oil palm plantations and arable farming business
division.
- Feronia believes in the immense agricultural potential of the
DRC for high-quality foodstuffs and edible oils given its ideal
climate, excellent soil and highly skilled and experienced
workforce.
- Feronia's management team is comprised of senior
agriculturalists with extensive experience in managing both
plantations and large-scale mechanized farming operations in
emerging markets.
- Feronia is committed to sustainable agriculture, environmental
protection and providing support for local communities.
- For more information please see www.feronia.com
Cautionary Notes
Except for statements of historical fact contained herein, the
information in this press release constitutes "forward-looking
information" within the meaning of Canadian securities law. Such
forward-looking information may be identified by words such as
"plans", "proposes", "estimates", "intends", "expects", "believes",
"may", "will" and include without limitation, statements regarding
expected oil palm replanting. There can be no assurance that such
statements will prove to be accurate; actual results and future
events could differ materially from such statements. Factors that
could cause actual results to differ materially include, among
others, operational risks, environmental and weather related risks,
regulatory risks, the legislative process in the DRC and risks
related to foreign operations (including various political,
economic and other risks and uncertainties). Most of these factors
are outside the control of the Company. Investors are cautioned not
to put undue reliance on forward-looking information. Except as
otherwise required by applicable securities statutes or regulation,
the Company expressly disclaims any intent or obligation to update
publicly forward-looking information, whether as a result of new
information, future events or otherwise.
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Feronia Inc.Ravi SoodExecutive
Chairman(647)-987-7663Ravi.Sood@feronia.comFeronia Inc.Paul
DulieuInvestor Relations+44 7554
521421Paul.Dulieu@feronia.comwww.feronia.com
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