Mr. Frank Braeken reports

FERONIA ANNOUNCES CLOSING OF FOURTH AND FINAL DRAWDOWN ON $49M TERM FACILITY

Feronia Inc. has satisfied all conditions precedent to facilitate a fourth and final drawdown of $14-million from the previously announced $49-million secured term facility, provided in December, 2015, by a syndicate of European lenders consisting of four development finance institutions. Including this fourth drawdown, the full $49-million of the facility will have been drawn. All amounts in this press release are expressed in U.S. dollars unless otherwise indicated.

The purpose of the facility is to finance investment into equipment, replanting, fertilizer and environmental and social governance expenditures required as part of the rehabilitation of the three palm oil plantations of Feronia's subsidiary Plantations et Huileries du Congo SA in the Democratic Republic of the Congo.

The facility comprises $16.5-million provided by DEG -- Deutsche Investitions-und Entwicklungsgesellschaft mbH, lead arranger and agent for the syndicate, $16.5-million by Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV, the Dutch development bank, $11-million by the Belgian Investment Company for Developing Countries, the Belgium Government's DFI, and $5-million by the Emerging Africa Infrastructure Fund, a facility of the Private Infrastructure Development Group.

Through this financing the DFIs contribute to the development of poor rural areas by supporting the private sector; an important engine for employment and income in developing nations such as the DRC.

The amounts advanced under the facility will be repaid semi-annually over a six-year period commencing September, 2019. The facility is subject to covenants, pledges and charges typical of a loan facility of this nature and is secured by way of a first ranking security against the assets of PHC and by way of a pledge of the shares of PHC by a Belgian subsidiary of Feronia.

Feronia selected the lenders following a tender process which saw considerable interest from a variety of debt providers and DFIs. Approval of the loan by the lenders followed a comprehensive due diligence process and the further development and extension of the company's environmental and social action plan. The ESAP is the company's roadmap for implementing environmental and social best practices and improving social infrastructure across its operations and was jointly developed with CDC Group Plc., one of Feronia's key shareholders.

Frank Braeken, chairman of Feronia, commented: "I am delighted that we are making the final drawdown on the debt facility provided by our DFI lenders.

"The support of our DFI lenders has helped secure the future of PHC, the livelihood of the thousands of people we employ and the tens of thousands of people who are directly dependent on the company's success for their livelihoods, health care and social infrastructure.

"We are rebuilding PHC into a sustainable business fit for the 21st century and, in doing so, are playing a key role in driving sustainable growth in the communities in which we operate, providing an essential product in the DRC and becoming a model for transparency and sustainability both in the DRC and palm oil sector."

About Feronia Inc.

Feronia is an agribusiness operating in the Democratic Republic of the Congo. At the heart of Feronia lies a long-established palm oil business, Plantations et Huileries du Congo (PHC), which has three remotely located plantations: Lokutu, Yaligimba and Boteka.

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