AgriMarine Appoints Chief Operating Officer to Lead Expansion in China
VANCOUVER, BRITISH COLUMBIA, May 14, 2012 (MARKETWIRE via COMTEX) -- AgriMarine Holdings Inc. /quotes/zigman/547672 CA:FSH +2.94% (otcqx:AGMHF)(frankfurt:A2G) (the "Company" or "AgriMarine"), the leader in floating closed containment clean technology for sustainable aquaculture and commercial salmon producer in Canada and China, is pleased to announce the appointments of Ms. Lily Gao as Chief Operating Officer (China) and Mr. Josh McKibben (Hong Kong) as General Manager of Farm Operations, effective immediately.
As a qualified lawyer in China, Ms. Gao has extensive experience working for foreign-based, international law firms in the areas of investment, M&As, commercial transactions, business structuring and labour issues. Ms. Gao has expertise in the structuring of WOFE, FICE and joint ventures as well as prospectus preparation and due diligence for listings on the HKEX. Ms. Gao holds a Law Degree from Tsinghua University, School of Law, as well as a Bachelor of Economics Degree from Shandong University of Finance. Ms. Gao will lead the Company's growth strategy in China and will oversee all business units in Asia.
AgriMarine has also appointed Mr. Josh McKibben as General Manager of Farm Operations for China. Mr. McKibben brings significant practical aquaculture experience to AgriMarine, having worked in the salmon farming industry for over 12 years and managed marine aquaculture projects in Australia, Hong Kong and Panama.
In addition, the Company recently established a wholly-owned subsidiary based in Hong Kong under the name AgriMarine (Asia) Limited, to pursue regional business opportunities.
Company CEO Richard Buchanan commented, "We are very pleased to welcome Lily and Josh to the team. The appointments are an important step in the growth of our management team in China who will carry out the expansion of our business in the near future." Mr. Buchanan added, "AgriMarine is demonstrating the environmental and economic performance advantages of our proprietary clean technology by raising crops of Pacific salmon and Salmon Trout in commercial quantities at our farms in China and Canada."
About AgriMarine Holdings Inc.
Canadian-based AgriMarine is an aquaculture technology company engaged in the development, commercialization and licensing of proprietary floating solid-wall closed containment tank systems for salmon and finfish farming. The Company's clean technology is demonstrating economic and sustainability advantages in its own farms in Canada and China, as well as commercial scalability for hatchery and full grow-out applications. The AgriMarine System(TM) creates an optimal fish rearing environment, addresses sustainability issues in finfish aquaculture and can be applied worldwide in a variety of water bodies and climates.
