Salmon Business

Namgis First Nation reject Whole Oceans offer of sale

Owen Evans

Jul 11, 2019
Kuterra – a land-based salmon farm located in the North Island, Canada – will not be sold.

Emergent Holdings – the parent company of Whole Oceans which is developing a land-based facility on North America’s East Coast, in Bucksport, Maine – will not be buying Kuterra after it was opposed in a vote, reports NorthIslandGazette.

Emergent Holdings has expressed an interest in the site in June.
The ‘Namgis First Nation, who own the business, held a referendum where members voted on whether to sell 88 per cent equity in the business. After casting ballots, 95 members were in favour of the sale while 103 were opposed to it.

Kuterra has been growing Atlantic salmon on North America’s West Coast since 2013.

In a statement, Emergent Holdings chief executive Jacob Bartlett said: “While we are disappointed with the vote by the ’Namgis First Nation, we will continue to negotiate with the Nation and hope to come to an agreement soon. In the meantime, Emergent will continue to grow out fish in the Kuterra facility over the next few years under a previous lease agreement.”

https://salmonbusiness.com/namgis-first-nation-reject-whole-oceans-offer-of-sale/

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