VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 20, 2015) - AgriMarine Holdings Inc. (CSE:FSH)(FRANKFURT:A2G) ("AgriMarine") is pleased to announce that the going private transaction by way of an amalgamation (the "Amalgamation") of AgriMarine with a wholly-owned subsidiary ("Newco") of Dundee Agricultural Corporation ("DAC") was approved by shareholders of AgriMarine at its special meeting of shareholders held on May 19, 2015.
Under the Amalgamation, each common share of AgriMarine owned by shareholders other than DAC and its parent company, Dundee Corporation, will be converted into one redeemable preference share of the amalgamated company ("Amalco") and each redeemable preference share will then be redeemed by Amalco for CAN$0.03 in cash following the Amalgamation; each common share of AgriMarine owned by DAC and its parent company will be converted into one common share of Amalco; and each common share of Newco will be converted into one common share of Amalco. As a result, upon completion of the Amalgamation and the subsequent redemption by Amalco of the outstanding redeemable preference shares, Amalco will operate as a private company, wholly-owned by DAC and Dundee Corporation. It is currently expected that the Amalgamation will close on or about May 21, 2015.
Full details of the Amalgamation are set out in the management information circular of AgriMarine dated April 9, 2015 (the "Information Circular"). A copy of the Information Circular and other AgriMarine meeting materials can be found under AgriMarine's profile on SEDAR at www.sedar.com.
About AgriMarine Holdings Inc.
AgriMarine Holdings Inc. is a Canadian-based producer of sustainable fin fish and a developer of proprietary fish farming Clean Technology. The Company developed the AgriMarine System™ aquatic farm management technology to provide an optimized environment for the rearing of finfish in fresh or sea water conditions in order to meet the growing demands for healthy and sustainable seafood sources. AgriMarine Technologies Inc. is the Company's technology development and consulting division, while AgriMarine Industries Inc. operates the Company's Canadian and Chinese farming subsidiaries. Our flagship farm, West Coast Fishculture (Lois Lake) Ltd., is the premier supplier of Steelhead salmon in British Columbia and its premium OceanWise™ Lois Lake Steelhead is one of the leading brands of fin fish featured in top restaurants across the province. AgriMarine is a portfolio company of Dundee Agriculture, a subsidiary of Dundee Corporation.
Forward-Looking Information
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