Gourmet Ocean Products Inc.
TSX VENTURE : GOP

Gourmet Ocean Products Inc.

January 21, 2015 08:30 ET

Gourmet Ocean Products Announces It Has Purchased Approximately 400,000 Pounds of Sea Cucumber

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 21, 2015) - Gourmet Ocean Products Inc. ("Gourmet" or the "Company") (TSX VENTURE:GOP) reports that it has completed the purchase of approximately 400,000 pounds of mature sea cumber. This purchase is in addition to the 300,000 pound purchase as reported in Gourmet's last news release (November 10th, 2014). This purchase brings the total sea cumber purchased, since September 1, 2014, to approximately 700,000 pounds. The current wholesale, market price for sea cucumber is estimated to be between CAD $12 and $15 per pound. The product was sourced from Washington State, British Columbia and Alaska and it has been processed (cooked and salted) in Vancouver and Alaska. Approximately 480,000 pounds has been shipped to China and the Company plans to sell the product to distributors and retailers, throughout the 2015 winter season.

The purchase and sale of fully-grown shellfish represents an important part of the Company's business strategy to generate multiple revenue streams as well as offset the seasonality of shellfish production.

About Gourmet Ocean Products Inc.

Gourmet is a B.C.-based aquaculture company specializing in the production, distribution, marketing, and sale of high-quality specialty seafood products including sea cucumbers, scallops, goeducks and oysters with distribution to customers worldwide. Gourmet's goal is to become a global leader in cold-water aquaculture.

ON BEHALF OF THE BOARD

Peter Hughes, Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration.

Forward-Looking Statements

Certain of the statements made and information contained in this press release constitute forward-looking information within the meaning of applicable securities legislation. All information and statements which are not historical fact constitute forward-looking information and, in many cases, can be identified by words such as "proposed", "may", "will", "expect", "intend", "anticipate", "believe", "estimate", "potential", or other similar terminology. Forward-looking statements involve risks, assumptions, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from the forward-looking statements made in this press release include: products that are or become available from competitors, political and economic factors, including in China and environmental factors. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of the Company may vary materially from those described in this press release. Accordingly, readers are advised not to place undue reliance on forward looking information. Except as otherwise required by law, the Company does not intend to and assumes no obligation to update or revise forward looking information, whether as a result of new information, plans, events or otherwise.

Contact Information

  • Gourmet Ocean Products Inc.
    Peter Hughes
    Chief Executive Officer
    778-328-8898
    petehughes@me.com