NEW YORK, Sept. 7 /PRNewswire-FirstCall/ -- Umami
Sustainable Seafood Inc. ("Umami" or the "Company") (OTC Bulletin
Board: UMAM) announced today that for the second consecutive year,
its Kali Tuna subsidiary, based in Kali, Croatia, has successfully spawned and hatched
Mediterranean Bluefin Tuna in captivity. The Company estimates that
at least over 500 million eggs were released into the Adriatic. As
part of the process of continuing research and development into the
"closed cycle" farming of Bluefin Tuna, the Company's marine
biologists at Kali are now preparing for next year's spawning
season when the Company is expected to have over 10,000 potential
spawning fish in three different locations.
In announcing this development, Oli Steindorsson, the Company's
Chairman and CEO, said: "I am tremendously excited by the progress
of our closed lifecycle project. In Umami, we have continuously
adopted a sustainable operating platform for our Bluefin farming
activities. We are only too conscious of the enormous demand for
premium "Toro" sushi and the importance of ensuring the long-term
sustainability of the Bluefin Tuna stock. As such, we have
consistently adhered strictly to fishing quotas imposed in all
areas where we operate and have actively lobbied to reduce quotas
to levels where we believe stocks can replenish.
We are fortunate to have developed over many years an operating
platform comprising state-of-the-art farming techniques, which
enable us to significantly lengthen the farming cycle to greatly
increase the weight of harvested fish. This has both assisted our
sustainability activities and increased our profitability relative
to competitors."
Mr. Steindorsson continued: "The fishing industry has
historically believed that it was impossible to breed Bluefin in
captivity in a commercially viable manner. The key issue has
been the commercial viability of growing the tuna over a long
period of time, we know that once you have a small fish, you also
need to grow it to become a full sized tuna - this is where our
expertise has been built up over the recent years."
Our research and understanding of the fish has come with the
additional benefit of allowing us to understand what is required
for natural spawning to occur, and now we can proudly say that we
have the biggest brood-stock globally of Bluefin Tuna"
For more information, please visit:
http://www.umamiseafood.com.
Or contact:
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Karl Petur Jonsson
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Tel.: +354 6640000
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Email: karl@atlantis-ltd.com
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About the Company
The Company owns and operates Kali Tuna, which is an established
Croatian-based aquaculture operation raising Northern Bluefin Tuna
in the Croatian part of the Adriatic Sea. The Company intends to
become the leader in the Northern Bluefin Tuna industry by
acquisition and internal growth. The growth of the Company will be
founded on the sustainable management of resources and economically
sound practices, seeking opportunities resulting from market
consolidation and scientific progress in the industry.
Notice Regarding Forward Looking Statements
This press release contains projections and forward-looking
statements, as that term is defined in Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Statements in this
press release, which are not purely historical, are forward-looking
statements and can include, without limitation, statements based on
current expectations involving a number of risks and uncertainties
and which are not guarantees of future performance of the Company.
There are numerous risks and uncertainties that could cause actual
results and the Company's plans and objectives to differ materially
from those expressed in the forward-looking information, including
(i) adverse market conditions; (ii) any adverse occurrence with
respect to the farmed seafood industry generally or the business of
Kali Tuna specifically; and (iii) changes in the regulatory
environment. Actual results and future events could differ
materially from those anticipated in such information. These and
all subsequent written and oral forward-looking information are
based on estimates and opinions of management on the dates they are
made and are expressly qualified in their entirety by this notice.
Although the Company believes that the beliefs, plans, expectations
and intentions contained in this press release are reasonable,
there can be no assurance those beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors set forth in the Company's Current Report on Form 8-K
filed on July 7, 2010, and other
reports filed or to be filed from time-to-time with the Securities
and Exchange Commission.
SOURCE Umami Sustainable Seafood Inc.
Copyright t. 7 PR Newswire