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 THE COMPANY
Edgewater Foods International, Inc. is the parent company of Island Scallops Ltd. ("ISL"), a Vancouver Island aquaculture company. ISL is focused on innovative technologies to develop, sustainably farm, and bring to market superior varieties of scallops and other aquaculture products. ISL established in 1989, has the largest private marine research hatchery and is the first fully integrated shellfish producer in Canada.
Edgewater Foods' primary products are farmed scallops for sale on the North American West Coast and shellfish seed for local growers. It offers a variety of other products and services to the industry including aquaculture equipment, research and development and custom processing and marketing.
Company History
Edgewater Foods acquired ISL in June 2005 through a non-taxable merger. ISL was established in 1989 to commercialize Canadian government research on scallop aquaculture. ISL's hatchery operations have diversified to produce other species of shellfish such as mussels, clams, geoducks and oysters. ISL has also investigated the culture of halibut, spot prawn, sea urchin and abalone. ISL is the first hatchery to successfully produce sablefish juveniles for commercial grow-out.
The Company has developed proprietary hatchery technology for producing Pacific scallop and sablefish (black-cod) juveniles. The Pacific scallop is a unique scallop with significantly increased growth, yield and disease resistance. ISL is the sole source of Pacific scallop seed in the world. As such, the Company has virtually no existing competition for these marine species.
The Company's primary emphasis is on expanding future crops of its proprietary Pacific scallop, leveraging its new processing facility, infrastructure improvements and increasing sales and marketing efforts. It also intends to eventfully leverage its proprietary hatchery technology to begin sablefish production and ultimately enter the sable fish market in a significant way.
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