Feronia Inc. Closes Second Tranche of Strategic Investment from Phatisa's African Agriculture Fund

Feronia Inc. (TSX VENTURE:FRN) ("Feronia" or the "Company") is pleased to
announce that it has completed the second tranche of its previously announced
financing led by the African Agriculture Fund ("AAF") managed by Phatisa Fund
Managers Limited ("Phatisa"). All amounts in this release are expressed in
Canadian dollars unless otherwise indicated.


AAF, through its subsidiary Golden Oil Holdings Limited, acquired 58,800,774
common shares in the Company in the second tranche at a purchase price of $0.12
per share for an aggregate purchase price of $7,056,093. The Company has also
received subscriptions from a number of existing qualifying shareholders for an
additional 20,281,455 common shares in the Company at a purchase price of $0.12
per share for an aggregate purchase price of $2,433,774. The Company has
received $1,035,522 of such additional subscriptions and expects to receive the
remaining subscription funds in the coming days. 


The gross proceeds of the financing, including the gross proceeds from the first
tranche completed on January 14, 2013 and assuming receipt of the remaining
subscription funds referenced above is approximately $14,533,227. 


Following completion of the financing, the Company will have a total of
290,612,429 common shares issued and outstanding of which AAF will indirectly
hold 100,828,774, representing approximately 34.7% of the Company. The common
shares issued pursuant to the financing are subject to a statutory hold period
which expires four months from the applicable closing date. 


The AAF is a leading pan-African agriculture and food private equity fund that
is managed by Phatisa, an Africa-based private equity investment management
firm. The AAF includes among its limited partner investors a number of European
development finance institutions ("DFIs") such as the Agence Francaise de
Developpement (AFD), the Spanish Agency for International Development
Cooperation (AECID), and Promotion et Participation pour la Cooperation
Economique (Proparco); a number of African DFIs such as the African Development
Bank (AfDB), the Development Bank of Southern Africa (DBSA), the West African
Development Bank (BOAD) and the ECOWAS Bank of Investment and Development
(EBID); and other private European and USA investors. 


The Company's management and Board of Directors believe that the strategic
investment from AAF positions the Company well from a working capital
perspective in the short-term, and to access non-dilutive forms of growth
funding from other sources in the medium and long-term. 


Commenting, Ravi Sood, Chairman of Feronia said: "We are very pleased to close
the second tranche of this financing with the African Agriculture Fund and the
other participating investors and wish to thank our shareholders for their
continued support." 


About Feronia Inc.

Feronia Inc. is a large-scale commercial farmland and plantation operator in the
Democratic Republic of the Congo ("DRC"). The Company uses modern agricultural
practices to operate and develop its oil palm plantations and arable farming
business division. Feronia believes in the immense agricultural potential of the
DRC for high-quality foodstuffs and edible oils given its ideal climate,
excellent soil and highly skilled and experienced workforce. Feronia's
management team is comprised of senior agriculturalists with extensive
experience in managing both plantations and large-scale mechanized farming
operations in emerging markets. Feronia is committed to sustainable agriculture,
environmental protection and providing support for local communities. 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", "will" and include without limitation, statements
regarding the receipt of additional subscription funds, the Company's working
capital position, the Company's ability to access non-dilutive funding and the
benefits to the Company of the investment by AAF. 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, the inability to obtain the
additional subscription funds on terms acceptable to the Company or at all,
regulatory risks, risks inherent in foreign operations, commodity prices,
competition, and investments having no history of operations. 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Feronia Inc.
Ravi Sood
Chairman
(416) 907-2026
Ravi.Sood@feronia.com
www.feronia.com
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