AgriMarine Announces Formation of Scientific Development Committee

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Source: Marketwire

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/08/11 -- AgriMarine Holdings Inc. (TSX VENTURE: FSH)(OTCQX: AGMHF)(FRANKFURT: A2G) (the 'Company' or 'AgriMarine'), the leader in floating closed containment technology and production for sustainable aquaculture, is pleased to announce the appointments of Lawrence Albright, PH.D, William Kay, Ph.D. and Jo-Anne Leung, Ph.D. to the Company's newly formed Science and Technology Development Committee (the 'Committee').

The Committee has been created to advise AgriMarine's Board and Management on matters of fish health, disease prevention, husbandry and applied science and technology as it pertains to the Company's closed containment system.

The Committee is chaired by Dr. Lawrence Albright, a director of the Company, since its inception. Dr. Albright holds a B.Sc. (Agriculture) (1963) from Macdonald College, McGill University and M.S. (1965) and Ph.D. (1967) degrees from Oregon State University in Aquatic Microbiology. He served in the Department of Biological Sciences, Simon Fraser University for 39 years, retiring in 2006 and is currently Professor Emeritus. During his time at Simon Fraser University, Dr. Albright carried out extensive research on salmonids diseases, including sea lice infections of cultured salmon. Dr. Albright has also developed a strain of sockeye salmon suitable for aquaculture production.

William Kay, Ph.D. is Professor (Emeritus) of Biochemistry at the University of Victoria. He has served as past President and CEO of Microtek Research and Development, Ltd. and Microtek International, Inc. Both companies developed and commercialized diagnostics, vaccines and vaccine delivery systems across a number of fish species to maintain farmed fish health. In May 2010, Microtek was acquired by Pfizer Animal Health; a division of Pfizer Inc. Dr. Kay currently serves Pfizer in a consulting role. Dr. Kay has also served as a co-founder and Chairman of a number of other B.C. biotechnology companies.

Dr. Jo-Ann Leong currently serves as a director of the Hawaii Institute of Marine Biology on Coconut Island in Kaneohe on the island of O'ahu. She received her Bachelor's degree in Zoology from the University of California at Berkeley and her Ph.D. in Microbiology from the University of California School of Medicine. Dr. Leong's research accomplishments include the discovery of a new genus of the Infectious Hematopoietic Necrosis Virus or IHNV, the development of successful treatments for trout and salmon that contract the disease, and the development of a recombinant DNA vaccine for salmon.

'We are delighted to welcome Dr. Kay, Dr. Leong and Dr. Albright to our Science Committee,' said Richard Buchanan, CEO of AgriMarine Holdings. 'Each are respected members of the academic community and recognized leaders in their respective fields. As the Company increases fish production in closed containment systems in our facilities in China and Canada, we expect that their experience, guidance and technical expertise will be extremely valuable in addressing the issues of fish health management in our hatcheries and farming operations.'

About AgriMarine Holdings Inc.

AgriMarine has developed and commercialized proprietary floating closed containment technology to produce salmon sustainably in its farms in Asia and North America. The technology can be applied worldwide for the rearing of other finfish such as trout, tuna, and yellow croaker. AgriMarine's technology resolves many of the environmental issues created by present net cage rearing practices and meets consumer and retailer demands for sustainable aquaculture while protecting the environment.

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.

Contacts:
AgriMarine Holdings Inc.
Richard Buchanan
President and CEO
(604) 568-4672
rbb@agrimarine.com

AgriMarine Holdings Inc.
Alexia Helgason
Manager, Media Relations and Marketing
(604) 728-4407
alexia@agrimarine.com
www.agrimarine.com

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