VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 22, 2015) - AgriMarine Holdings Inc. (CSE:FSH)(FRANKFURT:A2G) ("Agrimarine") is pleased to announce, further to a news release dated April 2, 2015, that effective May 21, 2015 it has completed an amalgamation with a wholly-owned subsidiary ("Newco") of Dundee Agricultural Corporation ("DAC") pursuant to an amalgamation agreement dated April 2, 2015 (the "Agreement") to complete a going private transaction (the "Transaction"). The Transaction was approved by the shareholders of Agrimarine at a Special Meeting held on May 19, 2015. The company resulting from the amalgamation is named "AgriMarine Holdings Inc." ("Amalco").
Under the Agreement, each common share of Agrimarine owned by shareholders other than DAC and its parent company, Dundee Corporation, and affiliates of Dundee Corporation, was converted into one redeemable preference share of Amalco. Each redeemable preference share was then redeemed by Amalco on May 22, 2015 for CAN$0.03 in cash; each common share of Agrimarine owned by DAC and Dundee Corporation was converted into one common share of Amalco; and each common share of Newco was 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 became a private, wholly-owned subsidiary of Dundee Corporation.
Amalco has applied to de-list its common shares from the Canadian Securities Exchange and it is expected that Amalco will be de-listed from the Canadian Securities Exchange from the close of markets on May 22, 2015. In connection with the Amalgamation and the Transaction, the common shares of AgriMarine will be delisted from the Canadian Securities Exchange and AgriMarine will cease to be a reporting issuer. Once de-listed, Amalco will take the steps necessary to cease to be a reporting issuer under applicable securities laws. Copies of the Agreement and certain related documents is available 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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