VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 16, 2010) - AgriMarine Holdings Inc. (TSX VENTURE:FSH)(FRANKFURT:A2G) (the "Company" or "AgriMarine"), a leader in floating closed containment technology and production for sustainable aquaculture, is pleased to announce that the third tank at its fish rearing facility in Benxi, China has been stocked with the first wave of Pacific Chinook salmon fingerlings. This marks the first time that this type of Pacific salmon will be grown in closed containment within Chinese borders.
High value species such as salmon are not currently produced by China's commercial aquaculture or capture fisheries. AgriMarine expects that its first environmentally sustainable salmon will compete favourably with European and Chilean imports of fresh and valued-added salmon products.
The second phase of the hatchery modernization in Benxi is currently underway. In addition to the 300,000 Chinook fingerlings that are being prepared for stocking, the newly installed hatchery system will accommodate a wave of 500,000 Canadian-sourced Chinook ova which has just arrived as well as the upcoming delivery of 400,000 Coho ova.
"We are pursuing high value and niche market product opportunities with our new focus on Chinook and Coho salmon", said Richard Buchanan, CEO of AgriMarine Holdings. "The new ova represents 4,000 metric tonnes of product once the salmon are fully grown a year from now."
About AgriMarine Holdings Inc.
AgriMarine is in the business of producing fish sustainably in its proprietary closed containment systems in China for the rearing of trout, salmon and other finfish such as tuna in floating solid-wall closed containment systems that allows for control of the rearing water environment. AgriMarine's technology resolves many of the environmental issues created by present net cage rearing practices worldwide and permits the installation of fish production systems in close proximity to consumer markets.
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