A new frontier for Norwegian aquaculture

Statt Torsk ASA (ST) aims to establish its farmed cod as a premium product with fixed deliveries all year round to dedicated quality customers in Europe. The feedback from the market confirms this strategy.

On 8 December 2022, Statt Torsk ASA announced a successfully completed private placement of approximately NOK 40 million.

Statt Torsk ASA («Statt») has today been granted a new location Apalset with 4 licenses, located in Vanylvsfjorden. Maximum allowed biomass will be 3.120 tons.

Statt Torsk ASA has today entered into an agreement for sale of farmed cod. Deliveries will start in September and the content of the agreement means that approximately 1,600 tonnes WFE of initiated production has been sold. Expected value for the Company for this agreement is approximately MNOK 70.

Statt Torsk ASA has today received certificates from Global GAP. Approval took place on June 20, 2022.

Statt Torsk ASA has today entered into a NOK 35 million Overdraft Facility with a Norwegian bank at regular market terms. The facility will be used to finance the planned inventory building.

Statt Torsk ASA has today been granted an increase from 3 to 6 licenses at 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.

Statt Torsk ASA has today entered into a long-term agreement for the harvesting and processing of up to 3,500 tons of cod per year, with Western Seaproducts AS, a company owned by Måsøval AS, at the facility located at Vartdal.

The Statt Torsk board are pleased to announce the completion of a private placement of 41,4 MNOK, based on a share price of NOK 2,00.

Statt Torsk's production site Stokkeneset, which in the period February-April 2022 carried out a normal break after the previous production cycle, was set in first commercial operation on Saturday 23 April 2022 with, initially, 100,000 fish. The site is expected to be in full operations this summer.

Starting today, Statt Torsk AS (“Statt”) will deliver 2-3 trailers with Statt cod per week to the market.

Statt Torsk AS has today entered into a long-term agreement for the handling and processing of up to 3,000 tonnes of cod per year.

Stokkeneset Reiarlag AS, a wholly owned subsidiary of Statt Torsk AS, has entered into an agreement with a Norwegian bank for a financing framework of NOK 63 million for equipment with a total cost of NOK 70 million.

As a follow-up to messages and web meetings about the incident, we have made this note that summarizes the incident, the basis for our assessments and answers a few questions that came up at the web meeting 6. August 2021.

After 6 years of small-scale pilot projects at Stokkeneset, Statt Torsk is well underway with full-scale production at Rekvika in Vanylvsfjorden