Seafarms Group Limited (AU:SFG) has released an update.
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Seafarms Group Limited has announced a strategic update at their AGM, highlighting a leadership transition with Peter Fraser as the new CEO and a 15% increase in Black Tiger prawn production driving international sales growth. Despite a $19.3M loss due to investments in Project Sea Dragon, the company secured significant funding and initiated a sale and leaseback agreement to bolster their aquaculture operations. With legal challenges under control, Seafarms is focused on expanding its scalable prawn aquaculture model and enhancing shareholder value.
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