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AQB - AquaBounty Technologies Inc News Story

$4.95 -0.1  -1.2%

Last Trade - 30/07/21

Sector
Healthcare
Size
Small Cap
Market Cap £254.9m
Enterprise Value £110.3m
Revenue £140k
Position in Universe 4063rd / 7015

AquaBounty Announces First Harvest of GE Atlantic Salmon; Receives Approval for the Sale of GE Atlantic Salmon in Brazil

Tue 1st June, 2021 9:05pm
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MAYNARD, Mass., June 01, 2021 (GLOBE NEWSWIRE) -- AquaBounty Technologies,
Inc. (Nasdaq: AQB) (“AquaBounty” or the “Company”), a land-based
aquaculture company utilizing technology to enhance productivity and
sustainability, today announced: the successful completion of the first
commercial scale harvest of its genetically engineered (GE) Atlantic salmon at
the Albany, Indiana Farm; the regulatory approval of the Company’s GE
Atlantic salmon by Brazil’s National Biosafety Technical Commission
(CTNBio); and the addition of Gail Sharps Myers to AquaBounty’s Board of
Directors.

“We are thrilled to commence commercial-scale harvesting of our GE salmon at
our Indiana farm,” said Sylvia Wulf, Chief Executive Officer of AquaBounty.
“The first weeks of our harvest supply are fully committed and our customers
are excited to introduce the salmon in their markets. We will continue to ramp
up production to the farm’s full capacity throughout the course of the
year.”

AquaBounty is also pleased to announce the approval of its application to
Brazil’s National Biosafety Technical Commission for the sale of the
Company’s GE Atlantic salmon in Brazil. With this approval, the Company
moves closer to realizing an exciting new market opportunity in South America.

“This is another significant achievement for AquaBounty as we seek to expand
our presence into new international markets,” added Wulf. “This approval
now enables us to seek production and distribution partners in Brazil, the
largest and most populated country in South America with significant demand
for salmon.”

CTNBio assessed AquaBounty’s application to ensure it met the relevant
standards and regulatory requirements and concluded that the sale and
consumption of AquaBounty’s GE salmon is safe for the environment and human
health. CTNBio’s approval joins that of the U.S. Food and Drug
Administration and Health Canada, making AquaBounty the first and only company
in the world to have its GE Atlantic salmon approved in these three major
markets.

AquaBounty is also pleased to announce that Gail Sharps Myers – the EVP,
Chief Legal Officer, Chief People Officer and Corporate Secretary for
Denny’s Corporation – was elected to its Board of Directors at the
Company’s annual shareholders’ meeting held on May 28, 2021. She joins
recently appointed Director, Dr. Ricardo Alvarez, President and CEO of
Richelieu Foods Inc., both of whom bring valuable experience and relationships
in the food industry.

Wulf noted, “Ms. Sharps Myers and Dr. Alvarez are wonderful additions to
AquaBounty’s Board as AquaBounty continues to grow and commercialize, and we
are pleased to have them as independent, non-executive directors.”

About AquaBounty:

AquaBounty Technologies, Inc. (NASDAQ: AQB) is a leader in aquaculture
leveraging decades of technology expertise to deliver game changing solutions
that solve global problems, while improving efficiency, sustainability and
profitability. AquaBounty provides fresh Atlantic salmon to nearby markets by
raising its fish in carefully monitored land-based fish farms through a safe,
secure and sustainable process. The Company’s land-based Recirculating
Aquaculture System (“RAS”) farms, located in Indiana, United States and
Prince Edward Island, Canada, are close to key consumption markets and are
designed to prevent disease and to include multiple levels of fish containment
to protect wild fish populations. AquaBounty is raising nutritious salmon
that is free of antibiotics and other contaminants and provides a solution
resulting in a reduced carbon footprint and no risk of pollution to marine
ecosystems as compared to traditional sea-cage farming. For more information
on AquaBounty, please visit www.aquabounty.com or follow us on Facebook,
Twitter, LinkedIn and Instagram.

Forward Looking Statements

This press release contains 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. All statements other than statements of
historical fact contained in this release are forward-looking statements,
including, but not limited to, statements regarding purchase orders,
commitments and prospective agreements with customers; and anticipated growth
in market size and geographies. Forward-looking statements may be identified
with words such as “will,” “may,” “can,” “expect,” “plan,”
“anticipate,” “upcoming,” “believe,” “estimate,” or similar
terminology, and the negative of these terms. Forward-looking statements are
not promises or guarantees of future performance and are subject to a variety
of risks and uncertainties, many of which are beyond our control, which could
cause actual results to differ materially from those contemplated in these
forward-looking statements. Forward-looking statements speak only as of the
date hereof, and, except as required by law, we undertake no obligation to
update or revise these forward-looking statements. For additional information
regarding these and other risks faced by us, please refer to our public
filings with the Securities and Exchange Commission (“SEC”), available on
the Investors section of our website at www.aquabounty.com and on the SEC’s
website at www.sec.gov.

Company Contact:
AquaBounty Technologies
Dave Conley
Corporate Communications
(613) 294-3078

Investor Relations:
Greg Falesnik or Luke Zimmerman
MZ Group - MZ North America
(949) 259-4987
AQB@mzgroup.us


(https://www.globenewswire.com/NewsRoom/AttachmentNg/77e31f43-36a0-4b3a-9fe0-591723a4149f)



GlobeNewswire, Inc. 2021
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