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Straight KKM 2 Limited Acquires Common Shares of Feronia Inc.

TORONTO, ONTARIO -- (Marketwired) -- 01/19/18 -- Further to its news releases of September 25, 2017 and October 16, 2017, Straight KKM 2 Limited ("KKM") announces that it has closed the second and final tranche (the "Final Tranche") of its subscription for common shares ("Common Shares") of Feronia Inc. ("Feronia").

Under the Final Tranche, KKM acquired 59,169,444 Common Shares at a price of Cdn.$0.18 per Common Share, for an aggregate subscription price of Cdn.$10,650,500 (payable in US dollars based on a fixed exchange rate of Cdn.$1.253 per US$1.00 as set out in the relevant subscription agreement).

As a result of the closing of the Final Tranche, KKM now has ownership of, and control over, 121,819,444 Common Shares, representing approximately 30.0% of the issued and outstanding Common Shares of Feronia. In addition, assuming the completion of the transaction contemplated by the sale and purchase agreement between KKM and CDC Group plc (as announced on September 25, 2017), KKM will have ownership of, and control over, 183,157,277 Common Shares, representing approximately 37.86% of the issued and outstanding Common Shares.

KKM acquired the Common Shares pursuant to the transactions described herein for investment purposes. KMM will monitor the business, prospects, financial condition and potential capital requirements of Feronia. Depending on its evaluation of these and other factors, KKM may, from time to time in the future, increase or decrease its ownership, control or direction over the Common Shares or other securities of Feronia through market transactions, private agreements, subscriptions from treasury or otherwise.

KKM will file an early warning report pursuant to National Instrument 62-104 Take-over Bids and Issuer Bids on SEDAR (www.sedar.com) under Feronia's SEDAR profile. Feronia's registered address is: Suite 1800, 181 Bay Street, Toronto, Ontario M5J 2T9.

To obtain a copy of the early warning report, please contact:

Straight KKM 2 Limited
c/o Adansonia Management Services Limited
C2-202, Level 2, Office Block C
La Croisette, Grand Baie 30517
Mauritius
Attention: Kalaa Mpinga
Tel: +230 269 4166

Contacts:
Straight KKM 2 Limited
Attention: Kalaa Mpinga
Tel: +230 269 4166

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