Mr. Kalaa Mpinga of Straight KKM reports

STRAIGHT KKM 2 LIMITED ACQUIRES COMMON SHARES OF FERONIA INC.

Further to the news releases of Sept. 25, 2017, and Oct. 16, 2017, Straight KKM 2 Ltd. has closed the second and final tranche of its subscription for common shares of Feronia Inc.

Under the final tranche, KKM acquired 59,169,444 common shares at a price of 18 cents per common share, for an aggregate subscription price of $10,650,500 (payable in U.S. dollars based on a fixed exchange rate of $1.253 (Canadian) per $1 (U.S.) as set out in the relevant subscription agreement).

As a result of the closing of the final tranche, KKM now has ownership of, and control over, 121,819,444 common shares, representing approximately 30.0 per cent of the issued and outstanding common shares of Feronia. In addition, assuming the completion of the transaction contemplated by the sale and purchase agreement between KKM and CDC Group PLC (as announced on Sept. 25, 2017), KKM will have ownership of, and control over, 183,157,277 common shares, representing approximately 37.86 per cent of the issued and outstanding common shares.

KKM acquired the common shares pursuant to the transactions described herein for investment purposes. KMM will monitor the business, prospects, financial condition and potential capital requirements of Feronia. Depending on its evaluation of these and other factors, KKM may, from time to time in the future, increase or decrease its ownership, control or direction over the common shares or other securities of Feronia through market transactions, private agreements, subscriptions from treasury or otherwise.

KKM will file an early warning report pursuant to National Instrument 62-104 (Take-over Bids and Issuer Bids) on SEDAR under Feronia's SEDAR profile.

To obtain a copy of the early warning report, please contact: Straight KKM 2, care of Adansonia Management Services Ltd., C2-202, Level 2, Office Block C, La Croisette, Grand Baie, 30517, Mauritius, attention: Kalaa Mpinga, telephone: 230-269-4166.