Aquasense International and Gamma Seafood Sign LOI to Distribute First Saltwater Farmed Tilapia Product

Aquaculture Start-Up Aquasense Panama To Offer First-Ever Ocean-Farmed Tilapia for the US Market. Aquasense Panama will supply the Miami-based Alfa Gamma Group, on an exclusive basis an estimated annual 500 tons of ocean farmed tilapia to be distributed to high-end U.S. retailers, gourmet chefs and cruise ships, starting as early as next year. End Quote

(1888PressRelease) March 13, 2015 - Aquasense International Corporation ("Aquasense"), the U.S. holding company of the affiliate aquaculture company, Aquasense Panamá, S. de R.L. ("Aquasense Panama"), signed a letter of intent (LOI) with Miami-based, Gamma Seafood Corporation ("Gamma Seafood"), a division of the Alfa Gamma Group, to market and distribute the seafood industry's first ever farm-raised, saltwater red tilapia products in the USA market.

Under this LOI, Aquasense Panama will supply the Alfa Gamma Group, on an exclusive basis an estimated annual 500 tons of ocean farmed tilapia to be distributed to high-end U.S. retailers, gourmet chefs and cruise ships, starting as early as next year. By the end of the first project phase, it will supply an annual 6,000 tons. All product will consist of sustainably farm-raised red tilapia, grown in open-ocean and eco-friendly production systems, located in pristine waters off the Pacific coast of the Republic of Panama. The product will be offered only fresh, whole and filleted.

Aquasense Panama is an early stage aquaculture company with the mission to contribute to meeting the rising food needs of a growing world population in a sustainable manner. In 2007, it set out to change the paradigm of fish farming, by bringing their fish farming operations to the pristine waters surrounding Panama. Considered a non-traditional farming method for tilapia, their preliminary research showed that when tilapia are reared in the full salinity of the open ocean and fed nutritious feeds, the result is a very much improved fish product, in terms of taste and texture.

The Alfa Gamma Group owns and operates SQF and BRC certified facilities and fishing fleets in Panamá, Ecuador, Nicaragua, Suriname and Mexico. Alfa Gamma's headquarters are located in Miami, FL within five miles of the Miami International Airport and 12 miles from the Port of Miami. Alfa Gamma's 85,000 square foot headquarters include an SQF Level 3 modern processing facility that receives and processes 20 to 50 thousand pounds of fresh seafood per day, includes a 5 million pound freezer storage facility and is staffed with an experienced and dedicated sales and logistic force servicing customers in North America and abroad. For more about Alfa Gamma Group contact Santiago Alvarez at (305)888-6789.

http://www.aquasenseusa.com

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