SAN DIEGO, July 21, 2011 /PRNewswire/ --
Umami Sustainable Seafood Inc. (OTCBB:UMAM) ("Umami" or "the
Company"), a holding company of fish farming operations supplying
sashimi-grade Northern Bluefin Tuna to the global market, announces
that it intends to apply to list its common stock on the NYSE AMEX
Stock Exchange and has submitted materials to AMEX for its
review.
Oli Steindorsson, Chairman and CEO of Umami, commented, "Moving
to AMEX, if and when Umami is accepted for listing, would represent
the next step in Umami's growth as a leader in the sustainable
Bluefin tuna industry. The growth of our operations in
Croatia and Mexico clearly reflect the success of our
business model. Adding the catch from the current fishing season in
Mexico to our growing biomass, we
currently have approximately 4,500 metric tons of live inventory in
our two operations, representing a value of at least $90 million based on current market
prices."
We believe that moving to a major stock exchange will signal our
value to current and potential investors." Oli
concluded.
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.
Contacts:
Umami Sustainable Seafood Inc.
Oli Steindorsson
Chairman and CEO
+1(619)544-9177
The Investor Relations Group
+1(212)825-3210
Investor Relations:
James Carbonara or Adam Holdsworth
Public Relations:
Laura Colontrelle or Enrique Briz
SOURCE Umami Sustainable Seafood Inc.