Atlantic Sapphire inks deal for $25 million loan to finance next phase of land-based salmon project

The US arm of land-based salmon farmer Atlantic Sapphire has secured an additional
three-month credit facility of up to $25 million (€22.6 million) as a next step towards a fully-financed Phase 2 construction project.

Provided by Norwegian bank DNB Capital, the loan provides immediately available funds and secures the group additional liquidity while the details of the overall long-term financing are being finalized.

Shares in Atlantic Sapphire suffered record lows last month, falling to NOK 27.75 (€2.76/$3.11) during one trading day and closing at NOK 28.20