Feronia Inc. (TSXV:FRN) announced a private placement of up to 346,006,233 common shares at a price of CAD 0.075 per share for gross proceeds of CAD 25,950,467.475 on May 28, 2019. The transaction will be co-led by CDC Group plc and Straight KKM 2 Limited and will include participation from other investors. The securities are subject to a hold period of four months and one day. The transaction is expected to close on May 31, 2019. The transaction is subject to approval of the TSX Venture Exchange.