AgriMarine Appoints New President and CEO

October 05, 2012

Vancouver, British Columbia – AgriMarine Holdings Inc. (TSX-V:FSH, FRANKFURT:A2G, OTCQX: AGMHF), (the “Company” or “AgriMarine”) the leader in clean aquaculture technology, announces that effective immediately, Mr. Sean Wilton has been appointed by the Board to succeed Mr. Richard Buchanan as President and Chief Executive Officer of the Company. Mr. Wilton is a director of the Company and has been responsible for overseeing the Company’s technology sales and licensing initiatives.  Mr. Buchanan will remain a director of AgriMarine Holdings Inc. and remains Managing Director for Company’s Chinese subsidiaries, pending a formal transition.

“We are extremely pleased that Mr. Wilton has been named as President and CEO of AgriMarine,” said Mr. Harry Knutson, AgriMarine’s Chairman. “Mr. Wilton has been instrumental in the development and the commercialization of AgriMarine’s unique solid-wall closed containment technology.” As Founder of the Company, the Board wishes to thank Mr. Buchanan for his valuable service”.

AgriMarine is currently exploring strategic alternatives to fund the capital requirements for its operations in Canada and China.

About AgriMarine Holdings Inc.

Canadian-based AgriMarine is an aquaculture technology company engaged in the development, commercialization and licensing of proprietary floating solid-wall closed containment tank systems for salmon and finfish farming. The Company’s clean technology is demonstrating economic and sustainability advantages in its own farms in Canada and China, as well as commercial scalability for hatchery and full grow-out applications. The AgriMarine System™ creates an optimal fish rearing environment, addresses sustainability issues in finfish aquaculture and can be applied worldwide in a variety of water bodies and climates.