|By Marketwired .||
|February 19, 2014 11:27 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 02/19/14 -- Feronia Inc. ("Feronia" or the "Company") (TSX VENTURE: FRN) today announced that William (Bill) Dry has resigned as the Company's Chief Executive Officer and as a director of the Company and its subsidiaries. Mr. Dry has agreed to act as a consultant to the Company to assist in the transition of duties.
Ravi Sood, the Executive Chairman of Feronia, will assume the roles and responsibilities of the Company's Chief Executive Officer on an interim basis while the Company undergoes a process to identify a new Chief Executive Officer.
Ravi Sood expressed his gratitude to Mr. Dry stating: "On behalf of Feronia, the other members of the Board and the employees, I would like to thank Bill for his service to the Company. We have all learned and benefitted from his experience, determination, and incredible passion for the Company, its people, and all that it stands for. We look forward to working with Bill during the transition period and wish him the utmost success in his future endeavours."
Bill Dry commented: "It has been a privilege to work with Feronia over the past five years and I am incredibly proud of all that has been achieved.
"Whilst it has been a difficult decision to make, leaving Feronia is far easier knowing the difference made on the ground in the DRC and knowing the Company is well on the road to becoming great again. All that has been achieved is in no small measure down to the dedication and hard work of the Company's personnel whom I would like to thank for their unwavering support during my time as CEO. I wish them all the success in the future."
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 http://www.feronia.com
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