AAQ intends to re-initiate its aquaculture business through the use of the Company’s Licensed Technology in conjunction with the SEAS business with a view to establishing a successful aquaculture company with an Australian focus.

The Company has recently purchased a salmonid (a generic term for 5 species of salmon and trout) aquaculture, processing and distribution business carried on under the name “South East Atlantic Salmon” at “Goodearth” Farm, Cape Jaffa and Beachport in the South East of South Australia.

The key to the rejuvenation of AAQ’s business through the successful implementation of its business plan is the utilisation of the Company’s existing Licensed Technology which covers key devices and processes critical to drive more sustainable, lower-cost salmonid farming at the SEAS business.

The Company will initially undertake a detailed feasibility study incorporating the trialling of the Company’s Licensed Technology to determine the best use of the technology with the existing infrastructure owned by SEAS, particularly the integration of aeration, degassing and oxygenation functions in to allow improved operational efficiencies and reduced water usage.