Miami, FL, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ) , an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), requested that the Securities and Exchange Commission ("SEC") consent to the withdrawal of our Registration Statement on Form S-1 (No. 333-281270) originally filed on August 6, 2024, as we no longer intend to pursue our public offering at this time. We believe this is in the best interests of our shareholders and investors.

 

The Registration Statement has not been declared effective by the SEC, and no securities have been sold in connection with the offering described in the Registration Statement.

We believe that this request serves to protect the investments of our shareholders. Shareholder’s trust and support are invaluable to us, and we are committed to making decisions that uphold our shareholder interests and support the long-term growth of our business.

John Keeler, Chairman and CEO of Blue Star Foods, commented, “We do not believe our current market capitalization accurately reflects the true value of our Company. This decision was made after thorough analysis and careful consideration of our financial standing and market conditions. We are dedicated to reassessing our strategy to ensure that it aligns with our shareholder interests and the growth of our business. Shareholders’ continued support and belief in Blue Star Foods Corp. mean the world to us. We look forward to creating long-term value together.”

We believe that this decision will not impact our core business operations or our strategic objectives. We remain confident in our business model and sales growth trend.

We guarantee that our request that an order granting the withdrawal of the Registration Statement will be issued by the Commission.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Company’s common stock or any securities, and there shall not be any offer, solicitation or sale of securities mentioned in the press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of such any state or jurisdiction.

About Blue Star Foods Corp. (NASDAQ: BSFC )

Blue Star Foods Corp. an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS) that processes, packages and sells high-value seafood products. The Company believes it utilizes best-in-class technology, in both resource sustainability management and traceability, and ecological packaging. The Company also owns and operates the oldest continuously operating Recirculating Aquaculture System (RAS) full grow-out salmon farm in North America. The company is based in Miami, Florida, and its corporate website is: https://bluestarfoods.com

Forward-Looking Statements:

The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company’s product development and business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Risks concerning the Company’s business are described in detail in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and other periodic and current reports filed with the Securities and Exchange Commission. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contacts: investors@bluestarfoods.com