AgriMarine Releases Annual Financial Statements, Management Discussion & Analysis and Announces Demand Letter from MBSAI

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") announces that it has filed its audited annual Financial
Statements and Management Discussion and Analysis (MD&A) and related CEO and CFO
Certificates for the year ended March 31, 2013. The Company also announces that
it has received a demand letter from the Middle Bay Sustainable Aquaculture
Institute ("MBSAI") for approximately $2.9 million, alleging that the Company
has failed to perform certain obligations under the Design Build Stipulated
Price Contract between the two parties. The Company has replied to MBSAI denying
all claims related to these alleged failures to perform and rejects all claims
of amounts owing. The two parties are continuing negotiations at the present
time to reach a resolution on the issues.


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(TM) can be applied in warm or cold climate conditions, in oceans,
reservoirs and lakes. 


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release. 


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