Atlantic Sapphire, the world's largest land-based salmon farmer, on Wednesday announced CFO Jose Prado left his position, the same day the group said it's contemplating a $100 million (€84.6 million) private placement.

The funds, which will be used to repay existing debt and fund expansion plans, represents 12 percent of the company's outstanding capital at current share price levels.

Atlantic Sapphire has been looking at opportunities to finance its long-term debt more favorably for phase two of the construction of its land-based farm in the United States.