Site preparations took a break for winter in December. Significant progress was made towards the end of the year with one lagoon completely dewatered, and the largest lagoon almost dewatered. Work will commence on the site this spring and be completed this summer.

The end result is a pre-excavated site on glacial till, providing significant schedule advantages when we start construction on site.

Design for the RAS systems is progressing. We anticipate 90 percent design completion as we approach next winter.

A new capital raise was completed this month with Maine investors. It is positive that investors in Maine want to invest in Millinocket. Next raises will be in partnership with the international seafood bank Pareto Securities.

Great Northern is expanding its international reach – in March, Great Northern Salmon will as the only American aquaculture company, present the company at the North Atlantic Seafood Forum in Norway.