Edgewater Receives Approval From British Columbia Government to Convert One Third of Major Scallop Farm to “Off-Bottom” Growing Method, Increasing Farm Capacity by 300% and Adding 20 Million Scall
SOURCE:
Edgewater Foods
2008-04-08 05:30:00
Edgewater Receives Approval From British Columbia Government to Convert One Third of Major Scallop Farm to “Off-Bottom” Growing Method, Increasing Farm Capacity by 300% and Adding 20 Million Scall
GAITHERSBURG, MD–( EMWNews – April 8, 2008) – Edgewater Foods International, Inc.
(
largest scallop farm near Bowser, British Columbia, to the off-bottom
(suspended) growing technique. When completed by the summer of 2008, the
“off-bottom” method will increase farm capacity by 300% and add 20 million
scallops to the harvest cycle.
The company received an amended aquaculture license approving this action
from the British Columbia Ministry of Agriculture and Lands on March 27,
2008, following a comprehensive inter-agency review, including an
environmental assessment.
Robert Saunders, Chairman, CEO and President of Edgewater, stated, “We are
extremely pleased to receive this approval to convert one third of our
largest scallop farm to off-bottom culture. We believe it will prove
highly valuable to our company’s growth. The approval opens a significant
new farming area close to our hatchery at Qualicum Beach, BC, and is a
major milestone in reaching our farm production goals.”
“The company’s emphasis is on expanding future scallop crops, continuing
infrastructure improvements and launching new sales and marketing efforts.
In the first quarter of our current fiscal year (quarter ended November 30,
2007); we increased revenues by approximately 250%. With our emphasis on
the expansion of future crops, coupled with our recently completed new
processing facility and new marketing efforts, we expect to see such
revenue increases continue,” Mr. Saunders added.
The Bowser site comprises a total of 926 acres and is the largest of five
farm sites (or tenures) operated by Edgewater’s wholly owned subsidiary
Island Scallops Ltd. (ISL) on Vancouver Island.
The off-bottom suspension technique — growing scallops suspended on
horizontal longlines submerged 30 feet below the surface and anchored to
the bottom about 100 feet deep — has proven highly productive for growing
shellfish while having no significant negative impact on the environment.
Neutral buoyancy of the longline is maintained by submerged pressurized
floats attached to the longline. There are no floats or other structures on
the surface from which any part of the farm is suspended. At the Bowser
farm, only navigation buoys marking the boundary will occur on the surface.
Programs such as the Vancouver Aquarium’s Ocean Wise and the Monterey Bay
Aquarium’s Seafood Watch rate scallops farmed using off-bottom methods as
“Best Choice” in terms of environmental impact and ecological
sustainability. No artificial feeds or chemicals are used, and the
underwater structures act like an artificial reef, providing a refuge for
juvenile fish and a substrate for a myriad of marine organisms, increasing
biodiversity.
About Edgewater Foods International, Inc.
Edgewater Foods International, Inc., a Nevada Corporation, is the parent
company of Island Scallops Ltd. (“ISL”), a Vancouver Island aquaculture
company. Established in 1989, ISL has successfully operated a scallop
farming and marine hatchery business for over 18 years. ISL’s facilities
represent the largest private marine research hatchery and the first fully
integrated shellfish producer in Canada.
Edgewater Foods is dedicated to the farming, processing and marketing of
high quality, high value marine species: scallops and sablefish. Farmed
Pacific scallops are unique to North America, and Edgewater is the
predominant producer of live-farmed Pacific scallops.
The Pacific scallop is a hybrid developed by ISL through extensive research
and development and proprietary hatchery technology that significantly
increases growth yields while resisting disease. It is one of the largest
scallops in the world, reaching about 15 cm in size and more than 1 pound
in weight. The company believes there is virtually no existing competition
for producing this scallop. Edgewater is committed to rapidly expanding
production and profits and financing aggressive growth, while maintaining
quality and a healthy respect for a clean, sustainable marine environment.
Scallop farming is inherently a “green,” environmentally sustainable
industry. Scallops require clean water to grow and can only be harvested
from clean waters. No chemicals or food are added to the environment, and
cultured scallops are an organic food product. All scallop seed is
produced in the Island Scallops’ hatchery, so no natural populations are
exploited.
To learn more about Edgewater Foods International, Inc., please visit the
company’s Web site at http://www.edgewaterfoods.com. To receive email
updates about the company and to be added to Edgewater Foods International,
Inc. investor lists, please sign up at www.CFSG1.com or contact Adam
Brooks at [email protected].
Forward-Looking Statements
Except for historical information contained herein, the statements in this
news release are forward-looking statements that are made pursuant to the
safe harbor provisions of the Private Securities Act of 1995.
Forward-looking statements involve known and unknown risks and
uncertainties, which may cause a company’s actual results, performance and
achievement in the future to differ materially from forecasted results,
performance, and achievement. These risks and uncertainties are described
in the Company’s periodic filings with the Securities and Exchange
Commission. The Company undertakes no obligation to publicly release the
results of any revisions to these forward-looking statements that may be
made to reflect events or circumstances after the date hereof, or to
reflect the occurrence of unanticipated events or changes in the Company’s
plans or expectations.
Pursuant to an April 1, 2008 contract, Consulting For Strategic Growth 1,
Ltd. (“CFSG1”) provides Edgewater Foods International, Inc. (“the Company”)
with consulting, business advisory, investor relations, public relations
and corporate development services. Independent of CFSG1’s receipt of cash
compensation from the Company, CFSG1 may choose to purchase the Company’s
common stock and thereafter liquidate those securities at any time it deems
appropriate to do so.
| Contacts:
Company Contact: Tom Bostic Investor Relations: Media Relations: |
|
Major Newsire & Press Release Distribution with Basic Starting at only $19 and Complete OTCBB / Financial Distribution only $89
Get Unlimited Organic Website Traffic to your Website
TheNFG.com now offers Organic Lead Generation & Traffic Solutions
