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Blue Star Foods Corp. Reports Third Quarter 2020 Financial Results

Written by Customer Service on . Posted in Public Companies.

Company Sales are Up 38.9% from Q2-2020 and Returns To Profitability
Miami, Florida, Nov. 16, 2020 (GLOBE NEWSWIRE) — Blue Star Foods Corp. (OTC:BSFC), (“Blue Star”), a sustainable seafood company, announced today its financial results for the quarter ended September 30th, 2020 (“Q3-2020”).Results of Operations – (Three months ended September 30, 2020 vs. June 30, 2020)Other Strategic and Operating Highlights
The Company’s Chairman and CEO, John Keeler stated, “Almost all of our financial performance metrics improved in Q3-2020, including sales growth, a return to profitability on a cash basis, and the strengthening of our balance sheet. We believe our performance contrasts with other participants in the pasteurized crab meat space, who don’t have the retail market differentiator like we do. I am proud of my team’s resilience in the face of what are still challenging COVID-19 market conditions. As always, our focus is to continue to make improvements in the business, keep our team members safe, and to be a reliable partner to our growing retail base.” He further added, “While we continue to make improvements to our platform business, we have not stopped actively look for potential acquisition candidates that make sense in terms of both having operational synergies, and that have our core values such as improving the health of the oceans. We are determined to make some progress in this direction over the next several months.”
About Blue Star Foods Corp.Blue Star Foods Corp. is a sustainable seafood company that processes, packages and sells refrigerated pasteurized Blue Crab meat, and other premium seafood products. The Company believes it utilizes best-in-class technology, in both resource sustainability management and traceability, and ecological packaging. Its products are currently sold in the United States, Mexico, Canada, the Caribbean, the United Kingdom, France, the Middle East, Singapore and Hong Kong. The company headquarters is in Miami, Florida (United States), and its corporate website is: http://www.bluestarfoods.com.Contacts
Constantino Gutierrez | Newbridge Securities Corporation
cgutierrez@newbridgesecurities.com | Office: (480) 207-1824

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