AgriMarine Announces $1,700,000 Increase to Loan from Dundee

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

AgriMarine Holdings Inc. (TSX VENTURE:FSH)(FRANKFURT:A2G) (the "Company" or
"AgriMarine") is pleased to announce that Dundee Agricultural Corporation
("Dundee") and the Company have reached an agreement in principle, subject to
the approval of the TSX Venture Exchange (the "Exchange"), pursuant to which
Dundee will advance an additional $1,700,000 (the "Amended Loan") to the Company
under a loan previously announced on February 7, 2013 (the "Original Loan").


The Amended Loan will be evidenced by an amended and restated promissory note
(the "Note") in the principal amount of $3,529,032.88 (consisting of $1,750,000
principal amount on the Original Loan, $79,032.88 of accrued interest on the
Original Loan and an additional advance of $1,700,000) and will replace the
Original Loan. The Amended Loan will continue to bear interest at a rate of
12.68% per annum and will be due on demand.  


Pursuant to the terms of the Amended Loan, and subject to the approval of the
Exchange, Dundee may elect to convert the principal balance of the Amended Loan
into common shares of the Company at any time at a price of $0.18 per share. 


The proceeds of the Amended Loan will be used to settle indebtedness of the
Company's Chinese subsidiary, Benxi AgriMarine Inc. ("Benxi") and to provide
sufficient capital to bring the Company in good standing and resume full
operation of the Company's operations in China. 


The Note will be subject to a hold period which will expire four months and one
day from the date of issue. No finders' fees are payable in connection with the
Amended Loan.


About AgriMarine Holdings Inc.

Canadian-based AgriMarine has developed innovative aquaculture technology for
farming salmon, trout and other high value fin fish species in closed
containment. The Company utilizes its solid-walled floating tanks to address
sustainability issues in aquaculture, to create an optimal fish rearing
environment with added economic and environmental benefits and to meet consumer
and retailer demands for sustainable fin fish products. The AgriMarine System
can be applied in warm or cold climate conditions, in oceans, reservoirs and
lakes. 


Forward-Looking Information 

Information set forth in this news release may involve forward-looking
statements. Forward-looking statements are statements that relate to future, not
past, events. In this context, forward-looking statements often address a
company's expected future business and financial performance, and often contain
words such as "anticipate", "believe", "plan", "estimate", "expect", and
"intend", statements that an action or event "may", "might", "could", "should",
or "will" be taken or occur, or other similar expressions. By their nature,
forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause our actual results, performance or achievements,
or other future events, to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. Such factors include, among others, the following risks: risks
associated with marketing and sale of securities; the need for additional
financing; reliance on key personnel; the potential for conflicts of interest
among certain officers or directors with certain other projects; and the
volatility of common share price and volume. Forward-looking statements are made
based on management's beliefs, estimates and opinions on the date that
statements are made and the Company undertakes no obligation to update
forward-looking statements if these beliefs, estimates and opinions or other
circumstances should change. Investors are cautioned against attributing undue
certainty to forward-looking statements.


THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE
EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND,
ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE
UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT
UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED
IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.


FOR FURTHER INFORMATION PLEASE CONTACT: 
AgriMarine Holdings Inc.
Sean Wilton
President and CEO
[phone]
[e-mail]


AgriMarine Holdings Inc.
Alexia Helgason
Manager, Corporate Communications and Marketing
[phone]
[phone] (FAX)
[e-mail]
www.agrimarine.com