Atlantis Group hf. Announces Share Exchange of Kali Tuna and Lions Gate
Lighting Corp


    
    Planning Name Change to Umami Sustainable Seafood




    
</pre>
<p>NEW YORK, <span class="xn-chron">July 1</span> /CNW/ -- Atlantis Group hf., a multinational aquaculture company and wholesale trader of farmed (aquaculture) seafood worldwide, with a key market in <span class="xn-location">Japan</span>, has exchanged all of the issued and outstanding capital stock of its wholly owned northern bluefin tuna ("NBT") aquaculture subsidiary, Kali Tuna d.o.o. for newly issued restricted shares of Lions Gate Lighting Corp, a U.S. publicly traded Nevada corporation ("the Company"). Simultaneously, the Company raised gross proceeds of approximately <span class="xn-money">$7.3 million</span> through the issuance of 7.3 million shares and approximately 1.4 million warrants in a private placement offering.</p>
<p/>
<p>The Company intends to change its name to Umami Sustainable Seafood Inc. ("Umami") as soon as possible. The stock of the Company will continue to trade on the OTC Bulletin Board under the ticker symbol LNLT until the Company's name change is cleared by the Financial Industry Regulatory Authority.</p>
<p/>
<p>The cornerstone of Umami is Kali Tuna, an established NBT aquaculture operation located in the Croatian territorial waters of the Adriatic Sea.  Kali Tuna has been in operation for approximately 15 years and produces NBT that is regarded by many as the highest quality NBT in the world. Initially, the Company will continue to market a substantial proportion of its production in <span class="xn-location">Japan</span> utilizing the Atlantis Group as its sales agent.</p>
<p/>
<p>The Company will utilize the proceeds of the private offering, along with additional issued shares of the Company, to fund acquisitions of NBT farming operations, increase working capital to fund growth of its existing business and fund research and development in tuna farming technology primarily related to reproduction of NBT and feeding programs.</p>
<p/>
<p>Oli Steindorsson will be the Chairman and Chief Executive Officer of the Company. <span class="xn-person">Mr. Steindorsson</span> has over 15 years experience in the fishing industry and has been a director of Kali Tuna since 2005 and the Chief Executive Officer of the Atlantis Group since 2004.  <span class="xn-person">Mr. Steindorsson</span> is a native of a fishing village in <span class="xn-location">Iceland</span> and has grown up in and worked in the fishing industry all of his life.  <span class="xn-person">Mr. Steindorsson</span> moved to <span class="xn-location">Japan</span> at the age of 17 and, in addition to his experience in fishing and aquaculture, has become an expert in the Japanese fish trading and marketing industry.</p>
<p/>
<p>Additional members of the Company's management, operating team and directors have extensive experience in fish farming operations of NBT as well as other species.  Also, key members of the management team and its sales agent the Atlantis Group have extensive experience in selling high quality NBT and other species to the very demanding Japanese fish markets.</p>
<p/>
<p>"Building on the Croatian success of Kali Tuna and our sales expertise, we intend to become the leader of the Northern Bluefin Tuna industry," says <span class="xn-person">Mr. Steindorsson</span>.  He adds, "We have a tremendous operating company with many experienced people and the capital and opportunities to grow the Company.  The growth of Umami will be founded on the sustainable management of resources and economically sound practices of Kali Tuna, seeking opportunities resulting from market consolidation and scientific progress in the field.  Umami will do its best to leverage the trust in key markets built by its majority owner Atlantis Group.  We are already in negotiations with companies which we view as important targets in our strategic plan and expect to finalize these negotiations in the coming months."</p>
<pre>
    

    About the Atlantis Group
    
</pre>
<p>The Atlantis Group is a multinational aquaculture company and wholesale trader of farmed (aquaculture) seafood worldwide, with its key market in <span class="xn-location">Japan</span>.  One of the key strengths of Atlantis is the fact that the majority of its management and board have strong business experience in <span class="xn-location">Japan</span> and speak the language fluently.  This has allowed the company to continuously strengthen its relations with the large trading houses and customers in <span class="xn-location">Japan</span>, giving the company a good foothold and well known name in a market that has up until recently been seen as limited to Japanese companies for trading.  Atlantis will continue to be the sales agent for Umami.</p>
<p/>
<p>Atlantis Group has campaigned for lower quotas and stricter control mechanisms for NBT enforced by ICCAT, the regional fisheries management body overseeing the species. It is of utmost importance for the long term profitability of Umami Sustainable Seafood that the species are well managed and growth in the species is ensured.</p>
<pre>
    

    About Umami Sustainable Seafood
    
</pre>
<p>Umami Sustainable Seafood (currently known as Lions Gate Lighting Corp.), is a U.S. based public company specializing in aquaculture (farming) NBT.  Umami is the owner and operator of Croatia-based Kali Tuna, an established aquaculture operation raising NBT in the Croatian part of the Adriatic Sea.  Umami intends to become the leader in the NBT industry by acquisition and internal growth.  The growth of Umami will be founded on the sustainable management of resources and economically sound practices of Kali Tuna, and focused on seeking out opportunities resulting from market consolidation and scientific progress in the industry.</p>
<p/>
<p> </p>
<p> </p>
<pre>
    
    Contact:
    Karl Petur Jonsson
    Director of Corporate PR,
     Atlantis Group
    Mobile: +354 664 0000
    Email: karl@atlantis-ltd.com




    

For further information: For further information: Karl Petur Jonsson of the Atlantis Group, mobile: +1-354-664-0000, karl@atlantis-ltd.com

Organization Profile

ATLANTIS GROUP

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890