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Enter Symbol
or Name
USA
CA



Feronia Inc (2)
Symbol FRN
Shares Issued 346,938,173
Close 2018-01-19 C$ 0.38
Market Cap C$ 131,836,506
Recent Sedar Documents

Feronia closes $8.5-million (U.S.) placement tranche

2018-01-19 13:07 ET - News Release

Mr. Xavier de Carniere reports

FERONIA INC. ANNOUNCES CLOSING OF SECOND AND FINAL TRANCHE OF PREVIOUSLY ANNOUNCED US$17.5 MILLION PRIVATE PLACEMENT OF COMMON SHARES

Feronia Inc. has closed an $8.5-million (U.S.) second and final tranche of its previously announced subscription by Straight KKM 2 Ltd. for $17.5-million (U.S.) of common shares in the capital of the company at a price of 18 cents per common share. Based on a fixed exchange rate of $1.253 per $1 (U.S.) as set out in the applicable subscription agreement, the company issued 59,169,444 common shares to KKM pursuant to this tranche.

Following the completion of the private placement, Feronia has 483,716,469 common shares issued and outstanding.

Further details regarding the private placement are described in the press releases of the company issued on Sept. 25, 2017, and Oct. 16, 2017. The common shares issued to KKM are subject to a four-month statutory hold period.

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, which has three remotely located plantations: Lokutu, Yaligimba and Boteka. When Feronia acquired its palm oil business from Unilever in 2009, it had suffered from years of underinvestment and considerable disruption caused by conflict in the Democratic Republic of the Congo. The company's initial focus has been on rebuilding the business and resuming production to secure its future and the livelihoods of its employees.

We seek Safe Harbor.

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