Blue Star Foods Corp. RAS Division Announces Deep Bay, British Columbia as Location for Expansion of Land-Based Salmon Farm
Blue Star Foods Corp. (NASDAQ:BSFC) announced plans to establish a larger-scale land-based steelhead salmon farm through its subsidiary, Taste of BC Aquafarms (TBC), in Deep Bay, British Columbia. The company secured a 20-year land-lease for approximately 20 acres with an option for 10 additional acres, situated in an Agricultural Land Reserve, facilitating commercial aquaculture without re-zoning. The farm aims for annual production of up to 4,500 MT utilizing low-cost hydro-electricity, aligning with Blue Star's sustainable practices.
- Secured a 20-year land-lease for a 20-acre property for expansion.
- Potential annual production capacity of up to 4,500 MT.
- Utilizes renewable hydro-electricity, supporting sustainability goals.
- None.
Miami, FL, Nov. 08, 2021 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (NASDAQ:BSFC) (“Blue Star” or “BSFC”), an integrated Environmental, Social, and Governance (ESG) seafood company, today announced that its wholly owned Recirculatory Aquaculture Systems (RAS) subsidiary, Taste of BC Aquafarms (“TBC”), has identified Deep Bay, British Columbia as the location for its planned larger-scale land-based steel-head salmon farm. TBC has also agreed upon material terms of a 20-year land-lease agreement for the Deep Bay property.
The land-lease agreement will be for a property of approximately 20 acres, with an option to expand onto an additional 10 acres. The property is within a designated Agricultural Land Reserve within the Regional District of Nanaimo which supports commercial aquaculture without additional re-zoning. The site sits upon the highly productive Quadra Sediments litho stratigraphic unit with an aquifer that produces high water volumes of exceptional quality suitable for land-based salmon production.
"Expansion facilities in British Columbia will utilize renewable, low-cost hydro-electricity which aligns with our core values of sustainable, low carbon emission seafood production. The temperate rainforest climate of western British Columbia offers a lot of suitable locations to support our aggressive expansion plans, said Ben Atkinson, CEO of TBC. He further continued, “Our strategy of replicated modular expansion allows us greater flexibility in site selection in contrast to businesses that are looking to build 10,000 MT facilities or larger. This first property meets all of our criteria for the next phase of our expansion. This will be the first location for our 1,500 MT facility already in progress and will potentially support up to 4,500 MT annual production."
About Taste of BC Aquafarms Inc.
Taste of BC Aquafarms Inc. is a family operated company located in Nanaimo, British Columbia, Canada. Incorporated in 2010, the company operates the oldest continuously operating Recirculating Aquaculture System (RAS) full grow-out salmon farm in North America. As pioneers in the RAS industry, Taste of BC has proven their technology. Their “Little Cedar Falls” brand Steelhead Salmon has been on the market since 2013, and now is known as a premium land grown, sustainable Salmon. The Company is a member of Ocean Wise. Its corporate website is: www.littlecedarfalls.com
About Blue Star Foods Corp.
Blue Star Foods Corp. is an integrated ESG seafood company that processes, packages and sells high-value seafood products. The Company believes it utilizes best-in-class technology, in both resource sustainability management and traceability, and ecological packaging. The Company also owns and operates the oldest continuously operating Recirculating Aquaculture System (RAS) full grow-out salmon farm in North America. The company is based in Miami, Florida, and its corporate website is: www.bluestarfoods.com.
Forward Looking Statements
The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation the Company’s proposed development and commercial timelines, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements, including the potential listing of the Company’s common stock on Nasdaq, are based on information currently available the Company and its current plans or expectations and are subject to a number of uncertainties and risks that could significantly affect current plans. Risks concerning the Company’s business are described in detail in the Company’s Annual Report on Form 10-K for the year ended March 31, 2020 and other periodic and current reports filed with the Securities and Exchange Commission. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact:
Brett Maas | Hayden IR
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