TORONTO, ONTARIO -- (Marketwire) -- 06/16/12 -- Feronia Inc. ("Feronia" or the "Company") (TSX VENTURE: FRN) today announced that certain officers and directors of the Company have acquired an aggregate of 235,296 common shares in the capital of the Company (the "Qualifying Shares"), at a price of $0.17 per share, under the Company's Share Purchase Plan (the "Plan"). Under the terms of the Plan, each participating officer or director is entitled to receive the matching number of common shares acquired pursuant to the Plan at no cost to such officer or director (the "Deferred Matching Shares"). Subject to certain conditions, such Deferred Matching Shares will be issued to the participating officers and directors over a three year period following the date of the purchase of the Qualifying Shares. As a result, the participating officers and directors of Feronia may be issued an aggregate of 235,296 Deferred Matching Shares in three equal tranches over a three year period. The Plan was approved by shareholders at the annual and special meeting of the Company on June 17, 2011.
About Feronia Inc.
Feronia is a large-scale commercial farmland and plantation operator in the 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.
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