SAN DIEGO, August 3, 2011 /PRNewswire/ --
- Important Step Achieved in Closing the Life Cycle of Bluefin Tuna Farming in a Commercially Viable Way
- Substantial Enhancement of Umami's Sustainable Tuna Farming Model
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, has obtained DNA evidence confirming natural spawning of Bluefin Tuna at its Kali Tuna facility in Croatia.
(Photo: http://www.newscom.com/cgi-bin/prnh/20110803/472203-a )
(Photo: http://www.newscom.com/cgi-bin/prnh/20110803/472203-b )
Larvae hatched from eggs, collected from Kali Tuna's holding pens on July 19-21 were analyzed by Genomics Laboratory Macrogen Inc. They were confirmed to be Bluefin Tuna. Further tests conducted on the larvae's mitochondrial DNA determined that they matched their gene base, establishing that natural spawning activity had taken place within Kali's brood stock holding pens. This is the third consecutive year that natural spawning activities have taken place in Umami's Croatian commercial tuna farming facility, Kali Tuna.
Eggs were collected from one of several brood stock cages containing eighty-four mature five-year-old fish. The fish were not treated with hormones but, over the years, have been closely managed by Kali's scientists. This is the largest documented spawning in Kali Tuna's cages to date. The eggs were placed into an incubator and hatched. The larvae are being used for further research and development.
Kali Tuna has made a significant investment growing over 1,000 young tuna into mature brood stock at its aqua farms in both Mexico and Croatia to help replenish the Bluefin tuna population. This is likely the world's largest brood stock holding, with the goal being to release hundreds of millions of fertilized eggs and fry back into the wild every year.
This spawning event is a major step forward for the Company's hatchery project. Having a reliable and predictable supply of eggs is essential to the success of the Company's propagation programs. Earlier this year, Kali Tuna started work on building the world's first mobile tuna hatchery, one that will incorporate the latest equipment and technologies while being cost effective.
Oli Valur Steindorsson, Umami's Chairman and CEO said, "This event marks a major milestone in our company's ultimate goal of building a commercially viable closed life cycle Bluefin Tuna farming operation. For three consecutive years at our Croatian facility, we have spawned Bluefin tuna in captivity in a natural way. Although we still have a lot of work left to do in achieving our ultimate goal of developing economically viable processes of raising fish from the fry, these results prove that our experience, and our understanding of the species, is paying off. I am now more confident than ever that we will be able to dramatically increase the world's access to this highly valued food source, without any degradation in quality, while, at the same time, decreasing the pressure on the world's wild populations."
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, since 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 goal of the Company is the sustainable management of resources and economically sound practices, seeking opportunities resulting from market consolidation and scientific progress in the industry. The Company also intends to continue its 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.
