viewFeronia Inc

Feronia confirms no affiliation with Feronia Uganda Limited


Feronia (CVE:FRN), a large-scale plantation operator, asked for a retraction due to inaccurate reports by Ugandan media alleging it was connected to land purchases by Feronia Uganda Limited.

Two articles published in the Daily Monitor and Uganda Picks "erroneously" state that Feronia is related to Feronia Uganda Limited.

On Monday, Feronia confirmed that it has "no affiliation or relationship, financial or otherwise" to this company or to any other operation in Uganda. 

Feronia has requested the author issue a correction for publishing inaccurate information. It added that it may take further action if "deemed necessary".

Last week, accusations were made by a group of MPs that Pro-Solutions Ltd and Feronia Uganda Limited were involved in a land-grabbing scheme.

According to MPs, about 15,325 acres found in Kimacharin, Moruita Sub-county, in Nakapiripirit District were sold to Feronia Uganda Limited and over 1,000 acres sold to Pro-Solutions.

The land was sold without the consent of the right owners, according to reports.

The Toronto-based company uses modern agricultural methods to run and develop oil palm plantations within the Democratic Republic of Congo, (DRC).

Feronia, which has a farm in Kasangulu, Africa, grows fruits like mango, avocado and pineapple and also produces a number of vegetables and other produce for DRC markets.

Quick facts: Feronia Inc

Price: 0.035 CAD

Market: TSX-V
Market Cap: $29.04 m

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