Atlantis Japan Acquires 75% Stake in Prime Time Seafood Inc.

Atlantis Japan, a wholly owned subsidiary of Atlantis Group, seafood company and majority owner of Umami Sustainable Seafood (OTCBB "UMAM"), the largest global producer of Northern bluefin tuna, has acquired a 75% stake in Prime Time Seafood Inc.

Prime Time Seafood, Inc. is a Los Angeles based, California corporation established in 1988. It specializes in the grading and distribution of fresh tuna. The company currently imports Tuna from all over the world and supplies it to customers throughout the United States and Canada. It is based in Los Angeles.

In announcing the acquisition, Oli Valur Steindorsson, the CEO of Atlantis Group and Umami stated: “Prime Time Seafood will serve as a reinforcement to our already strong seafood marketing operations. Prime Time will serve as our foothold and launchpad in the US market. With sustainability issues being firmly dealt with we believe that a large market for bluefin tuna will be opening up in the US, California especially”.

Rex Ito, founder and CEO of Prime Time Seafood stated: “The combination of Atlantis' resources and farmed fish through Umami, together with Prime Time's experience and knowledge in the tuna market will be highly beneficial for both parties. In addition to enhancing current operations and farmed bluefin distribution, Prime Time and Atlantis are also developing closed life-cycle production of other popular marine finfish in our operations in Ensenada, Mexico”.