VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/22/11 -- AgriMarine Holdings Inc. (the 'Company' or 'AgriMarine') (TSX VENTURE: FSH)(OTCQX: AGMHF)(FRANKFURT: A2G), the leader in floating closed containment technology and production for sustainable aquaculture, announces the appointment of Harry Knutson as Chairman of the Board, following the resignation of Hon. John D. Reynolds from his position as Chairman of the Board and as a Director.
Mr. Reynolds cited a need to reduce his work obligations for his resignation but will join the advisory board of the Company to assist with matters of international government cooperation and ongoing corporate development.
'On behalf of the Board, we wish to thank John for his hard work and significant contributions as Chairman over the past three years and are appreciative of his desire to remain in an advisory capacity to the Company,' said Richard Buchanan, CEO of AgriMarine.
Mr. Harry Knutson, currently a Director of the Company, has been involved at the shareholder level with the Company for many years and has a strong understanding of the Company's technology and operations. Mr. Knutson also has extensive experience in Canadian and European investment banking and tax related matters.
About AgriMarine Holdings Inc.
AgriMarine has developed and commercialized proprietary floating closed containment technology to produce salmon sustainably in its farms in China and Canada. The technology can be applied worldwide to the rearing of other finfish such as trout, tuna, and yellow croaker. AgriMarine's technology creates an optimal fish rearing environment, offers a better farm management system with added environmental benefits over net cage rearing practices and meets consumer and retailer demands for sustainable aquaculture.
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.
AgriMarine Holdings Inc.
President and CEO
(604) 568-4673 (FAX)
AgriMarine Holdings Inc.
Manager, Media Relations and Marketing