Smolt business reviews options for growth

The company said in an Oslo Stock Exchange update over the weekend  that the process has been triggered by the board of directors to look at strategic alternatives for the company.

The announcement said: “The purpose of the strategic review is to evaluate structures and opportunities that could accelerate the company’s growth and/ or enhance shareholder value, without this entailing the need for capital raising.

“With a good track record in terms of biological performance, BioFish is an attractive supplier of high-quality, healthy smolt and post-smolt.

“Geographically, BioFish is ideally located in an area with high density of salmon farmers. BioFish holds an aquaculture license for five million smolt and a discharge license for 2,200 tons.”

It said that further updates regarding the results of this strategic review and its implications for the company’s operations and strategic direction will be communicated as and when appropriate.

BioFish is a Norwegian independent producer of high-quality smolt and post-smolt. The company has a post-smolt RAS production facility in Ljones close to the Hardangerfjord on the west coast of Norway.

It is a strategically located RAS facility in Ljones, in area PO3 which has a high farming density and relatively warm water which helps the production of robust smolt. Almost 40% of Norwegian fish farming sites can be reached within one day from the location.

Pareto Securities has been appointed as financial advisor to assist in the process.