AgriMarine Closes $5,000,000 Convertible Note Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 25, 2013) -

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AgriMarine Holdings Inc. (TSX VENTURE:FSH)(FRANKFURT:A2G) (the "Company" or "AgriMarine") is pleased to announce that it has closed its convertible note financing with Dundee Agricultural Corporation ("Dundee") previously announced on April 22, 2013 (the "Financing").

Pursuant to the financing, the Company issued Dundee a convertible note in the principal amount of $5,000,000 (the "Note"), which bears interest at a rate of 12.68% per annum and has a term of one year. The Note provides that the Company is required to complete a consolidation of shares within 90 days and that, subject to the approval of the TSX Venture Exchange, Dundee may elect to convert the principal amount of the Note into common shares of the Company at any time at a price per share equal to (a) prior to the consolidation, $0.10 per share, and (b) following the consolidation, at a price of $0.015 multiplied by the consolidation ratio.

The Note is subject to a four month hold period which will expire on August 26, 2013. No finders' fees were payable in connection with the Financing.

About AgriMarine Holdings Inc.

Canadian-based AgriMarine has developed innovative aquaculture technology for farming salmon, trout and other high value fin fish species in closed containment. The Company utilizes its solid-walled floating tanks to address sustainability issues in aquaculture, to create an optimal fish rearing environment with added economic and environmental benefits and to meet consumer and retailer demands for sustainable fin fish products. The AgriMarine System can be applied in warm or cold climate conditions, in oceans, reservoirs and lakes.

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