SAN DIEGO, April 27, 2011 /PRNewswire-FirstCall/ -- Oli
Valur Steindorsson, Chief Executive Officer of Umami Sustainable
Seafood Inc. (OTCBB:UMAM) ("Umami" or the "Company"), a holding
company of fish farms supplying sashimi-grade Northern Bluefin Tuna
to the global market, wrote a Letter to the Editor of The
New York Times that was published on
April 17. Mr. Steindorsson wrote the
letter in response to an April 10
editorial critical of the bluefin tuna industry.
"Contrary to your assertion about the species' 'extinction
spiral,' a stock assessment by the International Commission for the
Conservation of Atlantic Tunas last fall calculated the
Mediterranean stock of Eastern Atlantic bluefin as approximately
175,000 metric tons, a significant improvement over a 2007 estimate
of 78,000 metric tons," wrote Mr. Steindorsson. "Also, the
commission-which you claim has 'utterly failed to do its
job'-mandated a reduction in the total allowable catch for Northern
bluefin to 13,500 tons in 2010 and 12,900 in 2011 from 32,000
metric tons in 2006."
To read the original editorial, please visit the following link:
http://www.nytimes.com/2011/04/11/opinion/11mon4.html
To read Mr. Steindorrson's response, please visit the following
link:
http://www.nytimes.com/2011/04/18/opinion/lweb18tuna.html?_r=1&scp=2&sq="Umam
i Sustainable Seafood"&st=cse
(Due to the length of this URL, it may be necessary to copy and
paste this hyperlink into your Internet browser's URL address
field. Remove the space if one exists.)
About Umami Sustainable Seafood Inc.
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 and, as of November 30, 2010, Baja Aqua Farms, which is an
established Mexico based
aquaculture operation raising Northern Bluefin Tuna in the Pacific.
The Company intends to become the leader in aquaculture for
northern bluefin tuna 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. We also intend to continue our research
into closed cycle farming technology for Bluefin tuna which has
produced encouraging results. For more information, please visit
http://www.umamiseafood.com.
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 businesses
of Kali Tuna and Baja
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 Annual Report on Form 10-K filed
on October 22, 2010, and other
reports filed or to be filed from time-to-time with the Securities
and Exchange Commission.
SOURCE Umami Sustainable Seafood Inc.