SAN DIEGO, 9 December 2010 FirstCall /-Umami sustainable Seafood Inc. (OTCBB: UMAM .ob - News) ("Umami" or the "company") announced today that it expects to have collected about 1,400 metric tons of red tuna with a value of sales of approximately $ 25 million for the six months ending December 31, 2010.
The company expects to harvest approximately 400 tonnes of bluefin tuna to its operation of Kali tuna in Croatia and 1 000 metric tons in Baja Aqua Farms operating in the Mexico. 1 000 Metric tons at low approximately 650 metric tons were collected before completion of the acquisition of bass Umami. Umami in these sales interest is included in the statement of income under the earnings from investment in subsidiaries not consolidated for the period. These sales after the completion of acquisition of Baja, estimated total 350 tonnes, will be included in the sales and operation of the Umami for the six months ending December 31, 2010.
The company also announced plans at the end of the six months ending December 31, 2010 with approximately 5 000 tonnes of biomass which are available for sale or growth in agricultural facilities.
In announcing these results, Oli Steindorsson, President and CEO commented: "response to the announcement of the closure of the acquisition of Baja last week, it is gratifying to see our harvest generating significant cash flow to operational expansion of our activities, as well as operating results help." We believe that the acquisition of Baja high our operations of bluefin tuna to the highest standards and we will continue to exploit the benefits of our sustainable development platform to generate superior financial results. »
About the company
The company owns and operates Kali, tuna is an established basic aquaculture operation Croatian farm for bluefin tuna in the Croatian Adriatic Sea and, since November 30, 2010, Baja Aqua Farms, which is a Mexico established part operation based aquaculture farm for bluefin tuna in the Pacific. The company has become the leader in aquaculture for bluefin tuna in the North through the acquisition and growth internal. The growth of the company will be based on sustainable and economically sound management practices, research opportunities resulting from the consolidation of the market and scientific progress in the industry. We also intend to continue our agricultural research in closed-cycle technology for bluefin tuna, which has produced encouraging results.
Notice regarding Forward Looking statements
This press release contains projections and forward-looking statements that this 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. In this release news, statements that are not purely historical, are forward-looking statements may include, without limitation, statements based on current expectations, involving a number of risks and uncertainties and are not guarantees of future company performance. There is a risk and uncertainties that could cause actual results and the company plans and objectives differ materially from those expressed in forward-looking information, including (i) many deterioration of the market; (ii) any undesirable occurrences with which relates to usually farmed seafood industry or business of Kali tuna and Baja specifically. and (iii) changes in the regulatory environment. Actual results and future events could differ materially from those predicted in this information. These and subsequent information written and oral forward-looking all are based on estimates and opinions of management on the dates they are deployed 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 of these beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all information contained herein and as outlined in the annual report on form 10-K company risk factors also refer, filed on 22 October 2010 and other reports filed or be deposited from time to time with the Securities and Exchange Commission.
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