It is a pleasure to announce that Smart Salmon Norway Holding AS has acquired all shares in Salmon Offshore Farming AS. The acquisition was carried out through a share settlement, whereby the six former owners of Salmon Offshore Farming received shares in Smart Salmon Norway Holding. Following the transaction, they collectively own approx. 35% of the company, while Smart Salmon Group AS retains approx. 65% of the shares.

Five of the new shareholders in Smart Salmon Norway Holding have extensive experience from the aquaculture industry. Morten Vike, whose background includes CEO in Grieg Seafood ASA, has joined the company as the new CEO. Torbjørn Gjelsvik has assumed the role of Chairman of the Board, while Tore Holand has joined as a board member. We are also pleased to announce that Per Christian Willoch Fett, shareholder in Smart Salmon Group AS, has joined the new board. The remaining new shareholders from Salmon Offshore Farming are Frank Øren, Tarald Sivertsen and Moreld Aqua which is owned by the publicly listed company Moreld ASA.

Following the acquisition, Smart Salmon Norway Holding AS now has three wholly owned subsidiaries: Smart Salmon Smolt, Foods, and Salmon Offshore Farming. The company’s first priority going forward will continue to be the realization of 3,000 tonnes of large smolt production in Smørhamn. With new and strong resources joining the company, the Board believes that the prospects for securing financing have increased considerably.

Through Salmon Offshore Farming, the ambition is to obtain a license for offshore salmon farming in Norskerenna Sør. Access to large smolt is an important prerequisite for such a license. Furthermore, the company has a favourable agreement with Moreld Aqua related to concept development and engineering for offshore aquaculture.

In summary, the Board of Smart Salmon Group considers the acquisition to be a milestone for the company. Our new partners will contribute with increased credibility and execution capability, while the addition of Salmon Offshore Farming enables the group to become fully integrated from roe to harvest-size fish, with production both on land and offshore.