Umami Sustainable Seafood Successfully Spawns and Hatches Mediterranean Bluefin Tuna in Captivity

September 7, 2010

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:
    Karl Petur Jonsson
    Tel.: +354 6640000
    Email: karl@atlantis-ltd.com

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.

Source: newswire

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