Umami Submits Materials to NYSE AMEX

SAN DIEGO, July 21, 2011 /PRNewswire/ --

 

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, announces that it intends to apply to list its common stock on the NYSE AMEX Stock Exchange and has submitted materials to AMEX for its review.

Oli Steindorsson, Chairman and CEO of Umami, commented, "Moving to AMEX, if and when Umami is accepted for listing, would represent the next step in Umami's growth as a leader in the sustainable Bluefin tuna industry.  The growth of our operations in Croatia and Mexico clearly reflect the success of our business model. Adding the catch from the current fishing season in Mexico to our growing biomass, we currently have approximately 4,500 metric tons of live inventory in our two operations, representing a value of at least $90 million based on current market prices." 

We believe that moving to a major stock exchange will signal our value to current and potential investors."   Oli concluded.

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 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 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 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.

Contacts:



Umami Sustainable Seafood Inc.

Oli Steindorsson

Chairman and CEO

[phone]



The Investor Relations Group

[phone]

Investor Relations:

James Carbonara or Adam Holdsworth

Public Relations:

Laura Colontrelle or Enrique Briz

SOURCE Umami Sustainable Seafood Inc.

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