Umami Sustainable Seafood CEO Oli Valur Steindorsson Wrote a Letter to the Editor on Bluefin Tuna That was Published in The New York Times
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
Mr. Steindorsson wrote the letter in response to an
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
To read the original editorial, please visit the following link:
To read Mr. Steindorrson’s response, please visit the following link:
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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
is an established
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
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
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
with the Securities and Exchange Commission.
SOURCE Umami Sustainable Seafood Inc.