AgriMarine Appoints Chief Operating Officer to Lead Expansion in China

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Source: Marketwire

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/14/12 -- AgriMarine Holdings Inc. (TSX VENTURE: FSH)(OTCQX: AGMHF)(FRANKFURT: A2G) (the 'Company' or 'AgriMarine'), the leader in floating closed containment clean technology for sustainable aquaculture and commercial salmon producer in Canada and China, is pleased to announce the appointments of Ms. Lily Gao as Chief Operating Officer (China) and Mr. Josh McKibben (Hong Kong) as General Manager of Farm Operations, effective immediately.

As a qualified lawyer in China, Ms. Gao has extensive experience working for foreign-based, international law firms in the areas of investment, M&As, commercial transactions, business structuring and labour issues. Ms. Gao has expertise in the structuring of WOFE, FICE and joint ventures as well as prospectus preparation and due diligence for listings on the HKEX. Ms. Gao holds a Law Degree from Tsinghua University, School of Law, as well as a Bachelor of Economics Degree from Shandong University of Finance. Ms. Gao will lead the Company's growth strategy in China and will oversee all business units in Asia.

AgriMarine has also appointed Mr. Josh McKibben as General Manager of Farm Operations for China. Mr. McKibben brings significant practical aquaculture experience to AgriMarine, having worked in the salmon farming industry for over 12 years and managed marine aquaculture projects in Australia, Hong Kong and Panama.

In addition, the Company recently established a wholly-owned subsidiary based in Hong Kong under the name AgriMarine (Asia) Limited, to pursue regional business opportunities.

Company CEO Richard Buchanan commented, 'We are very pleased to welcome Lily and Josh to the team. The appointments are an important step in the growth of our management team in China who will carry out the expansion of our business in the near future.' Mr. Buchanan added, 'AgriMarine is demonstrating the environmental and economic performance advantages of our proprietary clean technology by raising crops of Pacific salmon and Salmon Trout in commercial quantities at our farms in China and Canada.'

About AgriMarine Holdings Inc.

Canadian-based AgriMarine is an aquaculture technology company engaged in the development, commercialization and licensing of proprietary floating solid-wall closed containment tank systems for salmon and finfish farming. The Company's clean technology is demonstrating economic and sustainability advantages in its own farms in Canada and China, as well as commercial scalability for hatchery and full grow-out applications. The AgriMarine System™ creates an optimal fish rearing environment, addresses sustainability issues in finfish aquaculture and can be applied worldwide in a variety of water bodies and climates.

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, Marketing, Communications and Media
(604) 568-4672
(604) 568-4673 (FAX)
alexia@agrimarine.com
www.agrimarine.com

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