Feronia Inc. Announces Change to Board of Directors

TORONTO, ONTARIO -- (Marketwired) -- 10/21/15 -- Feronia Inc. ("Feronia" or the "Company") (TSX VENTURE: FRN) today announces that Peter van As has been appointed to its Board of Directors, effective October 16, 2015, subject to approval by the TSX Venture Exchange.

Mr. van As replaces Mr. Vincent McAleer as one of two nominees of the African Agriculture Fund (the "AAF") on the Board. The change is a result of Mr. McAleer's resignation as a director of the Company.

Much of Mr. van As' 28-year career has been focused on emerging markets for multi-nationals, including Dutch dairy businesses (DOMO and FRICO), Unilever (Europe, Latin America and Africa), Smollan (sub-Saharan Africa) and DIAGEO (GM - Angola) and he has been an active member on a number of boards both in Africa and North America. Having completed a Masters' Degree in Economics, Peter joined Unilever where he spent close to 20 years developing markets in east, central and southern Africa including as Marketing & Sales Director (Zimbabwe), Managing Director (Mozambique and Tanzania) and Director Market Development, Unilever Central Africa, his last position before joining DIAGEO in 2012.

Xavier de Carniere, Chief Executive Officer of Feronia Inc. commented:

"I would like to thank Vincent for his contribution over the last two years and to welcome Peter to the board. Peter has considerable depth of knowledge and experience and I am sure he will prove to be a valuable addition."

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

Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "anticipates", "plans", "proposes", "estimates", "intends", "expects", "believes", "may" and "will". There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others: risks related to foreign operations (including various political, economic and other risks and uncertainties), the interpretation and implementation of the "Loi Portant Principes Fondamentaux Relatifs A L'Agriculture", termination or non-renewal of concession rights or expropriation of property rights, political instability and bureaucracy, limited operating history, lack of profitability, lack of infrastructure in the DRC, high inflation rates, limited availability of debt financing in the DRC, fluctuations in currency exchange rates, competition from other businesses, reliance on various factors (including local labour, importation of machinery and other key items and business relationships), the Company's reliance on one major customer, lower productivity at the Company's plantations and arable farming operations, risks related to the agricultural industry (including adverse weather conditions, shifting weather patterns, and crop failure due to infestations), a shift in commodity trends and demands, vulnerability to fluctuations in the world market, the lack of availability of qualified management personnel and stock market volatility. Details of the risk factors relating to Feronia and its business are discussed under the heading "Risks and Uncertainties" in Feronia's Management's discussion and Analysis for the year ended December 31, 2014, a copy of which is available on the Company's SEDAR profile at www.sedar.com. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

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:
Feronia Inc.
Xavier de Carniere
Chief Executive Officer
44 (0)7468 697 658
[email protected]
www.feronia.com

Feronia Inc.
Paul Dulieu
Investor Relations Manager
44 (0)7554 521421
[email protected]
www.feronia.com

Source: Feronia Inc.

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