Agrimarine

Sustainable Aquaculture Technology

AgriMarine Announces Closing of Second Tranche of Private Placement

AgriMarine Holdings Inc. (TSX VENTURE:FSH) (the “Company” or “AgriMarine”) is pleased to announce that, further to its recent news release dated April 19, 2010, it has now closed the second tranche of its non-brokered private placement consisting of the issuance of an additional 1,355,000 (each a “Unit”) of the Company, at a subscription price of $0.20 per Unit, and for additional gross proceeds of $271,000 (the “Offering”).

Each Unit is still comprised of one common share (each a “Share”) and one-half of one share purchase warrant (each a “Warrant”) of the Company, and each whole Warrant still entitles the holder thereof to purchase one additional Share of the Company (each a “Warrant Share”) at an exercise price of $0.30 per Warrant Share up to and including April 29, 2012.

All Shares issued pursuant to the Offering and any Warrant Shares issued in connection with the exercise of any of the Warrants, if any, will be subject to a hold period expiring on August 30, 2010, in accordance with the policies of the TSX Venture Exchange and applicable securities laws.

Additional finder’s fees of $12,000 in cash have now been paid in conjunction with the second closing of the Offering. Proceeds of the Offering will still be used to advance development of the Company’s business and for general working capital.

Print This Post Print This Post