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The company is pursuing a compensation claim exceeding NOK 1 billion against its former contractor, and described the private placement as "a precautionary measure".

According to the Norwegian company, this change has resulted in mobilization costs of approximately NOK 20 million.

The company alleges gross negligence in civil works at its Kvalnes land-based farm, though production remains on track.

The Norwegian aquaculture company has announced the successful release of approximately 750,000 smolt at its land-based facility in Kvalnes.

The Norwegian company has confirmed the completion of pool K1 and solid biological conditions in pool K0 following the recent smolt release.

Former construction company CEO Gro Skaar Knutsen steps down from the board to take a leadership position in the land-based aquaculture firm's construction activities.