AgriMarine Closes Acquisition of Partnership Units

January 13, 2011 11:37

AgriMarine Holdings Inc. is pleased to announce that, further to its October 19, 2010 news release, it has completed the acquisition of all of the issued and outstanding limited partnership units of Middle Bay Limited Partnership in exchange for the issuance of 1,200,000 Common shares of the Company, 400,000 of which are being held in escrow pending receipt of final closing documentation from a vendor, reports with reference to AgriMarine Holdings Inc.

The transaction was accepted by the TSX Venture Exchange as an "Expedited Acquisition". The Shares have been issued by way of prospectus exemptions and are subject to a statutory hold period until April 1, 2011 in accordance with applicable securities legislation.

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