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Feronia announces private placement equity investors

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November 8
2:59 PM 2013

Feronia Inc recently announced the completion of the first tranche of its USD25 million financing agreement with the CDC Group Plc, a unit of the UK Government's Development Finance Institution as its main investors.

CDC received for the investment made the equivalent 151,496,000 commond shares of the firm priced at CAD0.10 per share totalling USD14.5 million according to the terms of the formalized subscription agreement. Another investor, the African Agriculture Fund had acquired 78,360,000 common shares through a subsidiary for the purchase price of USDD7.5million. 

According to Feronia Chairman Ravi Sood, "We are pleased to close this financing with CDC, the AAF and other participating investors, and wish to thank our shareholders for their continued support. We have worked closely with CDC over the past few months to conclude this investment, building on their experience and knowledge as a leading development finance institution."

Feronia is a commercial farmland and plantation operator that operates in the Democratic Republic of Congo.

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