© AquaBounty
The sale of the farm, which was acquired by AquaBounty in 2016 and developed into a broodstock and egg production facility, is expected to be finalised by the end of the year.
David Melbourne, CEO of the GM salmon producing firm, stated: “We continue to be focused on securing funding for both our near and long-term needs, so that we can return to pursuing our growth strategy. The Rollo Bay farm was purchased and developed to support an expansion plan for five large land-based grow-out farms. Since we will not require the egg output from the Rollo Bay farm in the near to mid-term timeframe, and since we will retain sufficient egg production capacity for our Ohio farm from our hatchery in Bay Fortune, we have determined that the Rollo Bay farm can be sold at this time to resolve the company’s immediate cash requirements, without impacting our long-term strategy. We are also continuing to pursue additional funding and strategic alternatives with the goal of securing our cash requirements in the coming months,” concluded Melbourne.
