Statement from Grieg NL

September 7, 2018

For Immediate Release

Grieg NL Receives Environmental Approval and Project Release from the Government of Newfoundland and Labrador for the Placentia Bay Atlantic Salmon Aquaculture Project

(Marystown, NL) Grieg NL is pleased to announce that it has received final environmental approval and project release from the Government of Newfoundland and Labrador for its Placentia Bay Atlantic Salmon Aquaculture Project.

On September 6, 2018 the Minister of Municipal Affairs and Environment, the Honourable Andrew Parsons, informed Grieg NL that, under authority of Section 67(3)(a) of the Environmental Protection Act, the Lieutenant-Governor in Council, released the Placentia Bay Atlantic Salmon Aquaculture Project from further environmental assessment subject to a number of terms and conditions.

Grieg NL’s General Manager Knut Skeidsvoll said, “This project release is a significant milestone in the company’s development and business plans. We are very grateful for the encouragement and support we received from residents, municipalities and the business community of the Burin Peninsula, and from Premier Dwight Ball, Member of the House of Assembly for Burin-Grand Bank Carol Anne Haley, Member of the House of Assembly for Placentia West – Bellevue Mark Browne, Member of Parliament for Bonavista-Burin-Trinity Churence Rogers and his predecessor The Honourable Judy Foote.”

The Project release will allow the company to complete the permit and license applications process and regulatory approvals required to start construction of the land-based Recirculating Aquaculture System (RAS) Hatchery for Atlantic Salmon in the Marystown Industrial Park, planned for this fall, and to initiate processes for procurement and installation of equipment of the marine-based farms in Placentia Bay.

The Project represents a significant investment of $250 million in the rural economy of Newfoundland and Labrador, particularly Placentia Bay and the Burin Peninsula, in employment and procurement. Grieg NL is a willing partner with the provincial Government in its strategy for advancing aquaculture with the goal of increasing salmon production to 50,000 metric tonnes annually, and doubling employment in an industry that is year-round and long-term. With the experience and leadership of its Norwegian partners, and the initiative and investment of Newfoundlanders and Labradorians, Grieg NL will apply best global aquaculture practices and standards and innovation in this new aquaculture operation.

Further information about the Project can be found at griegnl.com.

Media Contact:     Perry Power, Grieg NL     709-279-3440    pressrelease@griegseafarms-nl.ca