VANCOUVER, BRITISH COLUMBIA, Aug. 10, 2010 (Marketwire) --
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
AgriMarine Holdings Inc. (TSX VENTURE:FSH)(FRANKFURT:A2G) (the "Company" or "AgriMarine"), an aquaculture technology and production company with proprietary closed containment systems for sustainable aquaculture, continues its regular shipments of tanks to its Benxi fish rearing facility in Liaoning Province, China.
The Company's third floating closed containment tank will be arriving at Benxi for installation during the month of August while the fourth tank is currently being manufactured. These tanks demonstrate that the commercial closed containment systems that form the Company's core technology are now in regular production and that the expansion strategy of the Company is underway.
These tanks will be stocked with salmon and trout fingerlings hatched from Canadian ova in the pristine, spring-fed waters of AgriMarine's hatchery in Benxi County. Constructed of double walled fiberglass with a 25-year service life, these assets have a much longer useful life than traditional net cages and are ten times larger than alternative land based tanks. AgriMarine's proprietary systems offer the only floating closed containment solution for rearing salmon and trout in an environmentally sustainable manner.
The Company also announces that it has relocated its head office. The new address is 1810 - 999 West Hastings Street, Vancouver, B.C., V6C 2W2 and can be reached via telephone at 604-568-4672 or fax at 604-568-4673.
About AgriMarine Holdings Inc.
AgriMarine is in the business of producing fish sustainably in its proprietary closed containment systems. AgriMarine has developed proprietary technology for the rearing of trout, salmon and other finfish such as tuna in floating solid-wall closed containment systems that allows for control of the rearing water environment. AgriMarine's technology resolves many of the environmental issues created by present net cage rearing practices worldwide and permits the installation of fish production systems in close proximity to consumer markets.
Forward-Looking Information
Information set forth in this news release may involve forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Richard Buchanan
Alexia Helgason
AgriMarine Holdings Inc.
AgriMarine Holdings Inc.
President and Chief Executive Officer
Media Relations and Marketing Manager
(604) 568-4672
(604) 728-4407
rbb@agrimarine.com
alexia@agrimarine.com
www.agrimarine.com
