FERONIA INC. APPOINTS FRANK BRAEKEN AS NEW INDEPENDENT DIRECTOR
TORONTO, ONTARIO--(Marketwired - Nov. 28, 2014) - Feronia Inc. ("Feronia" or the "Company") (TSX VENTURE:FRN) today announced that it has appointed Mr. Frank Braeken as an independent director of the Company.
Mr. Braeken has extensive experience in the Fast Moving Consumer Goods ("FMCG") sector including 26 years with Unilever where he lived and worked in nine countries on four continents. In 2009, Mr. Braeken became head of Unilever's Namca region, with responsibility for markets across North Africa, the Middle East and Central Africa. In 2011, Mr. Braeken became head of Unilever Africa where he had overall responsibility for the $3 billion operation.
After leaving Unilever in 2013, Mr. Braeken became Chief Investment Officer of Amatheon Agri Holding, a company established to invest in African agriculture and food related businesses. He also holds a number of other non-executive directorships.
Commenting on the appointment, Ravi Sood, Chairman of Feronia Inc. said: "On behalf of the Company it is my pleasure to welcome Frank Braeken to our Board of Directors. Frank brings to the Company extensive experience operating in the FMCG sector in Africa, and specifically in the DRC. He will be a valuable contributor to the Company's evolution in the years to come."
Mr. Braeken added: "Having been born in the DRC and spent much of my career at Unilever, I am familiar with the history and significance of Feronia's palm oil business and the important role the Company has in supporting the growth of the DRC. I look forward to playing an active role in helping management restore this 103-year old business to its status as a global leader."
About Feronia Inc.
- Feronia operates large-scale commercial oil palm plantations and has commenced an arable farming operation in the Democratic Republic of the Congo (the "DRC").
- The Company, through its subsidiaries, holds concessions on land which is owned by the DRC government and on which its oil palm plantation and farming operations take place.
- The Company uses modern agricultural practices to operate and develop its oil palm plantations and arable farming. Feronia believes in the immense agricultural potential of the DRC for high-quality edible oils, oil derivatives and foodstuffs given the suitability of its climate and soil and the availability of a skilled workforce.
- The Company's management team is comprised of experienced business administrators and 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 jobs and economic growth for local communities.
- For more information please see www.feronia.com.
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. 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.
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