Seafarms Group (ASX:SFG) announced that its wholly owned subsidiary, Sea Dragon Shrimp, has completed the acquisition of the assets and undertakings of Project Sea Dragon (in liquidation) from the company’s liquidator.
Some assets require third-party consent before transfer, and SDS is actively engaging with these parties, confident that all necessary approvals will be secured.
Seafarms CEO Peter Fraser said the transaction "paves the way to formalise funding with investors at the appropriate time," which will support the development of the Sea Dragon Shrimp project, including new farms, hatcheries, processing facilities, and infrastructure across the Northern Territory and Western Australia.
The company continues to advance funding discussions with prospective investors while finalising planning, permitting transfers, and preparation for the staged development of the project.
At the time of reporting, Seafarms Group's share price was $0.0020.