Unusually high currents caused one of the site's anchors to shift leading to the loss of salmon from one cage.
Crews worked against the tide to secure equipment and remained on site to monitor the situation during the night.
Divers assessing the damage found significant mortalities at the bottom of the cage and the number of escapee's is thought to be around 20,000.
The company reported that thanks to the diligence and experience of the crew, most fish were saved.
The Atlantic Salmon Federation (ASF) and the Salmon Council of Newfoundland and Labrador (SCNL) have both issued concern over the escaped salmon.
The timing of the escape coincides with the wild salmon spawning season, which increases the likelihood and severity of negative interactions between wild and farmed fish.
Both groups are calling on the Newfoundland government to develop and implement a comprehensive monitoring programme for wild and escaped farmed salmon on the south coast, where salmon production has more than tripled in the past decade.