NAVINA ASSET MANAGEMENT INC. REPORTS OWNERSHIP OF COMMON SHARES IN FERONIA
INC. ON BEHALF OF FUNDS IT MANAGES

TORONTO, Sept. 17 /CNW/ - Navina Asset Management Inc. ("Navina") announced its control or direction of 35,839,090 common shares and 7,500,000 warrants of Feronia Inc. ("FRN"; TSX-V:FRN) owned by funds it manages. This represents approximately 36.1% of the total issued and outstanding common shares of FRN on a partially diluted basis and 40.1% of the total issued and outstanding common shares of FRN on a fully diluted basis. The FRN shares were acquired through private placements prior to Feronia's recent listing on the TSX-V.

Navina acquired shares of Feronia on behalf of its funds for investment purposes.

Navina Asset Management is a specialized asset management firm with interests and investments in Canada and around the world.

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For further information: Catherine Stretch, [phone], [email protected], www.navinaasset.com