May 28 (Reuters) - Feronia Inc FRN.V :
* FERONIA INC. ANNOUNCES US$19.3 MILLION PRIVATE PLACEMENT AND RELATED DEBT SETTLEMENT
* FERONIA INC - PROPOSED PRIVATE PLACEMENT OF UP TO APPROXIMATELY US$19.3 MILLION
* FERONIA - PROCEEDS SHALL BE USED TO COMPLETE CONSTRUCTION OF A NEW PALM OIL MILL AT LOKUMETE, SETTLEMENT OF ALL OF OUTSTANDING SHORT TERM DEBT