Feronia Inc.

Feronia Inc. is a commercial agriculture company engaged in identifying, acquiring and consolidating farm land and operations in Africa with the intention of bringing them back into production using modern agricultural techniques and practices. Feronia’s management team is comprised of senior agriculturalists with extensive experience in managing both plantations and large-scale mechanized farming operations in frontier and emerging markets. Feronia was founded by Trinorth and provided with initial seed funding in 2008. In September 2009, Feronia completed an equity financing with the participation of outside institutional and individual investors.

Partial proceeds from the equity financing were used to purchase a majority interest in Plantations et Huileries du Congo (“PHC”) from Unilever plc on September 3, 2009. Located in the Democratic Republic of Congo, PHC has been in operation for almost 100 years and has virtually all required infrastructure for planting and production. The region has consistent rainfall and the land is among the highest quality in the world. PHC has long-standing relationships with the local community and government and a stable, highly trained workforce of approximately 4,300. PHC also has a research and breeding programme in the DRC to develop standard and wilt resistant palm oil seed for international sale.

The plantation produces primarily palm oil from its three properties. Palm oil is a commodity with a rapidly growing demand throughout the world, with pricing that tends to move in tandem with crude oil. Of the approximately 100,000 hectare plantation, 70 hectares are suitable for planting with approximately 15,000 hectares currently planted. To complete the refurbishment and turnaround of PHC, Feronia management is engaged in upgrading communications infrastructure, financial systems and accounting procedures, refurbishing the existing mill onsite, negotiating transportation contracts, developing an operational plan, evaluating various manufacturers of farming equipment, surveying the land and testing the soil.

With PHC on revitalizing its operations, Feronia is researching opportunities to engage in arable farming in the DRC and Uganda to produce crops such as soybeans and rice and discussing options with potential lenders and other interested parties as milestones are achieved.

Feronia’s Senior Management Team

James Siggs, Chief Executive Officer: 35 years experience in large-scale agribusiness in many countries including Indonesia, Malaysia, Papua New Guinea, DRC, Cote d’Ivoire, Liberia, Mozambique, Uganda, Thailand and Cambodia. Operations director at London Sumatra’s Indonesia plantations with 50,000 ha in 19 operating units & over 12,000 employees. Numerous turnaround operations in Africa improving yields, volumes and profitability.

Raymond Batanga, COO Agriculture: 35 years experience working in agriculture in the DRC. Director of Operations for four agro-industrial units covering 18,000 ha of oil palm, 3,400 ha of rubber, 1,000 ha of cocoa and coffee, 3 palm oil mills and a rubber factory in the DRC. Managed 6,000 person workforce.

Bill Dry, COO Oil Palm: 30 years as an engineer for large-scale agricultural projects globally including Sierra Leone, Liberia, Cote d’Ivoire, Papua New Guinea, DRC & Uganda. An expert on managing logistics & personnel in emerging markets. As MD for CDC, managed a 30,000 ha oil palm plantation & workforce of 6,000 in PNG.

What is Palm Oil?

Palm oil is an edible plant oil derived from the pulp of the fruit of the oil palm Elaeis guineensis. It is widely used as a cooking oil in Asia and Africa and is used in the manufacture of soap products. In recent years, palm oil has found a new and growing application as a biofuel. Global consumption of palm oil is expected to double by 2050. Although palm oil originated in West Africa, today Indonesia and Malaysia are the world’s largest producers.