Blue Ocean Mariculture Completes Acquisition of Kona Blue Fish Farming Facility in Hawaii

KONA, HI--(Marketwire - Jun 4, 2012) - Blue Ocean Mariculture (www.bofish.com), today announced that it has completed its acquisition of the hatchery and offshore mariculture assets of Kona Blue Water Farms. This is the final step in Blue Ocean Mariculture's transition to becoming the exclusive producer of premium, sashimi-grade Kampachi in Hawaii.

The two-year transition from Kona Blue to Blue Ocean involved recapitalizing the business and rebuilding the Hawaiian Kampachi™ biomass inventory. Blue Ocean acquired Kona Blue's offshore mariculture lease in early 2010. The marine finfish hatchery was acquired in January 2011, and in May, 2011, Blue Ocean completed its first larval run of Hawaiian Kampachi™, known locally as Kahala or Almaco Jack. Those fish are now being harvested and sold throughout the U.S.

Kona Blue officially dissolved in November 2011 and the co-CEOs, Neil Sims and Michael Bullock, did not transition to the new company, which is headed by Todd Madsen, President.

"We've successfully restarted the Seriola hatchery and the offshore mariculture site is now running smoothly," said Mr. Madsen. "Product quality is better than it's ever been and we've had excellent response from customers over the past few months as we've introduced Hawaiian Kampachi™."

Hawaiian Kampachi™ is produced in the Pacific Ocean near Kona, Hawaii. Known for its distinctive fresh clean taste, the fish is grown on a controlled, high quality diet and the fish have no detectable levels of accumulated toxins such as PCBs or mercury. Hawaiian Kampachi™ are harvested as ordered for top restaurants and markets throughout the U.S. Blue Ocean Mariculture does not use GMO brood fish, growth hormones or preventative antibiotics in the production of Hawaiian Kampachi™.

About Blue Ocean Mariculture

Blue Ocean Mariculture is the exclusive producer of Hawaiian Kampachi™ (Seriola rivoliana). Blue Ocean is dedicated to the sustainable and responsible production of marine finfish in Hawaii. Operating along the Kona coast, Blue Ocean manages all aspects of its product's life cycle to ensure the highest quality and least environmental impact. For more information, please visit www.bofish.com.