Feronia Inc. Announces Closing of Second Tranche of Secured Convertible Debenture Offering

TORONTO, ONTARIO--(Marketwired - Nov. 27, 2015) - Feronia Inc. ("Feronia" or the "Company") (TSX VENTURE:FRN) is pleased to announce that it has entered into a subscription agreement with the African Agriculture Fund, through its subsidiary Golden Oil Holdings Limited ("GOHL"), for the private placement of up to US$5,000,000 of the previously announced $17,500,000 of secured convertible debentures (the "Debentures") as described in the Company's press release issued on November 5, 2015.

The Company is also pleased to announce that it has closed a tranche of the private placement of Debentures with GOHL in the principal amount of US$1,800,000, having previously closed the first tranche with CDC Group plc in the principal amount of US$10,000,000, as described in the Company's press release of November 9, 2015.

The terms of the Offering are described in the press release of the Company issued on November 5, 2015.

About Feronia Inc.

• Feronia is an agribusiness operating in the Democratic Republic of the Congo (DRC).
• At the heart of Feronia lies a long established palm oil business, Plantations et Huileries du Congo (PHC), which has three remotely located plantations; Lokutu, Yaligimba and Boteka. We also have an arable farming operation which grows and processes rice.
• When Feronia acquired its palm oil business from Unilever in 2009, it had suffered from years of underinvestment and considerable disruption caused by conflict in the DRC. Our initial focus has been on rebuilding the business and resuming production to secure its future and the livelihoods of the 3,800+ people we directly employ.
• Feronia's plantations produce crude palm oil (CPO) and palm kernel oil (PKO). CPO is part of the staple and traditional diet of the Congolese and, with our products sold locally in the DRC, we are well placed to help decrease reliance on imports and increase food security and quality.
• Feronia prides itself on being the guardian of our 104 year-old palm oil business and its employees, communities, and environment. We have a long term commitment to improve the living and working environment of our employees and their communities and are committed to sustainable agriculture, environmental protection and community inclusion. Feronia has in place an Environmental and Social Action Plan which is focused on implementing environmental and social best practice and improving social infrastructure.
• Feronia is working towards certification by the Roundtable for Sustainable Palm Oil (RSPO) and is implementing IFC/World Bank standards for environmental and social sustainability. Our oil palm replanting programme is brownfield in nature - replacing old palms with new - and it has no reliance on deforestation.
• Feronia's management team is comprised of senior agriculturalists with extensive experience in managing both plantations and farming operations in emerging markets.
• For more information please see www.feronia.com

Cautionary Notes