Statt Torsk ASA

Regulatory Filings • Jul 14, 2022

STATT – 3 new licenses at Rekvika

STATT – 3 new licenses at Rekvika

Statt Torsk ASA has today been granted an increase from 3 to 6 licenses at Rekvika. Maximum allowed biomass at Rekvika will be 4.680 tons.

“The increase of licenses at Rekvika from 3 to 6 gives us good opportunity to continue our work for a cluster for cod farming in the Stad area and to achieve our goals of sustainable and effective production. I am very happy that we are given the opportunity to contribute more to the area by creating new and safe jobs”, Leif Ronny Rætta, COO Statt Torsk ASA.

"A larger site will lower our capex as well as give Rekvika a better profitability. The increase from 3 to 6 MAB will be implemented when ongoing production is completed and will be ready for the 2nd production cycle", Bjug Borgund, CFO Statt Torsk ASA.

The 2 existing sites in Stad municipality has now a total of 8 licenses. Statt Torsk ASA targets 24 licenses at 4-6 sites for this cluster, and a total production of 12.000 tons. STATT recently entered into a long-term processing agreement for all production in 2022-2024 at Western Seaproducts AS in Vartdal.

About Statt Torsk ASA:

Statt Torsk ASA is listed on Euronext Growth Oslo with ticker “STATT” and with operations in Stad municipality. The company produces and sells farmed Atlantic cod. In 2016-2021, the company carried out three pilot productions to clarify whether commercial production was possible. STATT is now in commercial production with currently two sites with total 8 licenses in Vanylvsfjorden.