SAN DIEGO, April 27, 2011 /PRNewswire-FirstCall/ -- Oli Valur 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 New York Times that was published on April 17. Mr. Steindorsson wrote the letter in response to an April 10 editorial 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 2006."
To read the original editorial, please visit the following link: http://www.nytimes.com/2011/04/11/opinion/11mon4.html
To read Mr. Steindorrson's response, please visit the following link: http://www.nytimes.com/2011/04/18/opinion/lweb18tuna.html?_r=1&scp=2&sq="Umam i Sustainable Seafood"&st=cse
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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 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.
SOURCE Umami Sustainable Seafood Inc.