Contact Information: Contacts: Company Contact: Edgewater Foods International Inc. Rob Saunders Chairman, CEO & President Tel: 250-757-9811 Fax: 250-757-8370 Website: http://www.edgewaterfoods.com Investor Relations: Stanley Wunderlich CEO Consulting for Strategic Growth I Tel: 1-800-625-2236 Fax: 1-646-205-7771 Email: Web site: http://www.cfsg1.com Media Relations: Daniel Stepanek, EVP Consulting for Strategic Growth 1 Tel: 1-646-205-7767 Fax: 1-646-205-7771 Email:
Edgewater Foods International Signs $2 Million Scallops Order With Fanny Bay Oyster Co., a Division of Taylor Shellfish Farms
| Source: Edgewater Foods
GAITHERSBURG, MD--(Marketwire - November 6, 2008) - Edgewater Foods International, Inc.
(OTCBB : EDWT ), the first fully integrated shellfish producer with the
largest private marine research hatchery in Canada, announced today that
the Company has signed a $2 million order with Fanny Bay Oyster Co., a
division of Taylor Shellfish Farms of Shelton, Wash., an international
seafood distributor and the largest shellfish company on the West Coast.
The order is for more than 800,000 lbs. of Edgewater's proprietary Pacific
scallops to be delivered to Fanny Bay over the next 13 months. The order
includes live scallops, fresh scallop meat and frozen scallops to be farmed
in Edgewater Foods' Qualicum Beach, British Columbia, operation, and
packaged and delivered in various scallop products (including live
in-the-shell, frozen half-shell and fresh meat).
The Pacific scallop is a special scallop which can grow to more than one
pound and is largely disease resistant. Island Scallops Ltd, a subsidiary
of Edgewater Foods International, is the sole source of Qualicum Beach
scallop seed in the world and will be providing these unique scallops to
Fanny Bay.
Robert Saunders, Chairman and CEO, Edgewater Foods International, said,
"This is the largest order Edgewater has received to date and confirms the
unique high quality scallop that we have worked so hard to develop. We are
very pleased to be working with Taylor Shellfish Company, and we look
forward to working with the management of Fanny Bay in preparing and
delivering this order. We anticipate that this will be the start of a long
term relationship with Taylor Shellfish which will benefit both our
companies. Scallops have become increasingly popular with the general
public. As we at Edgewater expand our farms and processing capabilities, we
will expand our scallops into new markets in North America and abroad."
In April 2008 Edgewater Foods received approval from the British Columbia
Government to convert its largest scallop farm to off-bottom growing.
This change in farming operation has provided the Company with the
potential to add more than 20 million scallops to its annual harvest cycle
when the build is completed.
About Edgewater Foods International, Inc.
Edgewater Foods International, Inc., a Nevada Corporation, is the parent
company of Island Scallops Ltd. ("ISL"), a Vancouver Island aquaculture
company. Established in 1989, ISL has successfully operated a scallop
farming and marine hatchery business for almost 20 years. ISL's facilities
represent the largest private marine research hatchery and the first fully
integrated shellfish producer in Canada.
Edgewater Foods is dedicated to the farming, processing and marketing of
high quality, high value marine species: scallops and sablefish. Farmed
Pacific scallops are unique to North America, and Edgewater is the
predominant producer of live-farmed Pacific scallops.
The Pacific scallop is a hybrid developed by ISL through extensive research
and development and proprietary hatchery technology that significantly
increases growth yields while resisting disease. It is one of the largest
scallops in the world, reaching about 15 cm in size and more than 1 pound
in weight. The Company believes there is virtually no existing competition
for producing this scallop. Edgewater is committed to rapidly expanding
production and profits and financing aggressive growth, while maintaining
quality and a healthy respect for a clean, sustainable marine environment.
Scallop farming is inherently a "green," environmentally sustainable
industry. Scallops require clean water to grow and can only be harvested
from clean waters. No chemicals or food are added to the environment, and
cultured scallops are an organic food product. All scallop seed is
produced in the Island Scallops hatchery, so no native populations are
exploited.
To learn more about Edgewater Foods International, Inc., please visit the
company's Web site at http://www.edgewaterfoods.com. To receive email
updates about the company and to be added to Edgewater Foods International,
Inc. investor lists, please sign up at www.CFSG1.com or contact Adam
Brooks at abrooks@CFSG1.com.
About Taylor Shellfish Farms
Located in Shelton, Wash., Taylor Shellfish Farms is a fourth generation,
family-owned company with approximately 500 employees farming shellfish on
9,500 acres of owned and leased tideland in Puget Sound and Willapa Bay in
the State of Washington and British Columbia and in Mexico. The company
has hatcheries in Kona, Hawaii and Quilcene, Washington, a pearl farm in
Fiji and a distribution company in Hong Kong. Taylor produces Manila
clams, Mediterranean mussels, geoduck, a variety of live, shucked and
frozen oysters, and shellfish seed for national and international markets.
Taylor acquired Fanny Bay Oyster Co., British Columbia's largest shellfish
producer, in February 2007. Their website is www.taylorshellfish.com.
Forward-Looking Statements
Except for historical information contained herein, the statements in this
news release are forward-looking statements that are made pursuant to the
safe harbor provisions of the Private Securities Act of 1995.
Forward-looking statements involve known and unknown risks and
uncertainties, which may cause a company's actual results, performance and
achievement in the future to differ materially from forecasted results,
performance, and achievement. These risks and uncertainties are described
in the Company's periodic filings with the Securities and Exchange
Commission. The Company undertakes no obligation to publicly release the
results of any revisions to these forward-looking statements that may be
made to reflect events or circumstances after the date hereof, or to
reflect the occurrence of unanticipated events or changes in the Company's
plans or expectations.
Pursuant to an April 1, 2008 contract, Consulting For Strategic Growth 1,
Ltd. ("CFSG1") provides Edgewater Foods International, Inc. ("the Company")
with consulting, business advisory, investor relations, public relations
and corporate development services. Independent of CFSG1's receipt of cash
compensation from the Company, CFSG1 may choose to purchase the Company's
common stock and thereafter liquidate those securities at any time it deems
appropriate to do so.