Feronia Inc. Arable Farming Update
April 15 2014 - 4:00PM
Marketwired
Feronia Inc. Arable Farming Update
TORONTO, ONTARIO--(Marketwired - Apr 15, 2014) - Feronia Inc.
("Feronia" or the "Company") (TSX-VENTURE:FRN) is pleased to
announce further progress in its arable farming operation following
the recent harvest of a 200 hectare trial rice crop planted in
October 2013.
Results from the trial have been positive with mechanised
harvesting achieving an average yield of 2.6 tonnes of paddy rice
per hectare over the 200 hectare trial site. This represents a 44%
increase on the yield per hectare achieved during the Company's
previous large trial planting which was harvested in March
2013.
During the harvest, the Company achieved an average yield of 3.0
tonnes per hectare from four plots, totaling 103 hectares, further
demonstrating that commercial yields are achievable. A peak yield
of 3.6 tonnes per hectare was achieved but harvesting losses
arising from insufficient harvesting capacity resulted in a lower
average yield per hectare across the 200 hectare trial.
In total, 532 tonnes of paddy rice was harvested and is now
being processed for sale into the domestic market.
A further 200 hectare rice trial has now been planted and will
be harvested in June 2014.
Commenting, Ravi Sood, Executive Chairman of Feronia Inc. said:
"At each stage of our arable farming trials we have made
progress, as the increase in average yield achieved across this 200
hectare trial planting confirms.
"The three tonne per hectare yield achieved from over half
the trial planting reconfirms our belief that mechanised rice
farming in the Democratic Republic of Congo can be commercially
viable and we remain focussed on increasing plant yields whilst
reducing losses currently occurring during the harvest process
because of insufficient harvesting capacity.
"We continue to believe in the immense agricultural
potential of the DRC and are investigating mechanisms to fund the
growth of this operation without diluting shareholders."
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" and "will". 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, 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.
Ravi SoodExecutive Chairman, Feronia Inc.(647)
987-7663Ravi.Sood@feronia.comPaul DulieuInvestor Relations, Feronia
Inc.(44) 7554 521421Paul.Dulieu@feronia.com
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