Proximar Seafood AS has signed an extension to the Memorandum of Understanding (“MoU”) with Marubeni Corporation with regards to a potential sales and marketing agreement for the salmon produced at Proximar Seafood's facility which is under construction at the foot of Mount Fuji in Japan. The parties have since May worked closely to find a common framework for the future sales and marketing of the Atlantic Salmon produced by Proximar. The parties are pleased with the progress so far and have now extended the initial agreement to permit sufficient time to finalize the negotiations.

The intention with the MoU is to conclude on a firm off-take agreement. Partnering with strong, strategic players is part of Proximar's strategy. Marubeni is one of the large general trading companies (“sogo shosha”) in Japan, with 136 branches and offices in 68 countries and regions.

Proximar signed in March the construction contract with Daiwa House, which is a dominant construction company in Japan.