Miami, FL, December 14, 2021, Blue Star Foods Corp., (NASDAQ:BSFC) (“Blue Star” or
“BSFC”), an integrated Environmental, Social, and Governance (ESG) seafood company,
today announced that it has

Miami, FL, December 14, 2021, Blue Star Foods Corp., (NASDAQ:BSFC) (“Blue Star” or
“BSFC”), an integrated Environmental, Social, and Governance (ESG) seafood company,
today announced that it has signed a term sheet to acquire certain assets of Gault
Seafood, LLC (“Gault Seafood”), a Recirculatory Aquaculture Systems (RAS) company
with unique technology focused on harvesting the Atlantic Blue Crab during its off-
season. Gault Seafood has been in operation for close to 20 years and is based in
Beaufort, South Carolina.

“The Gault Seafood team has developed a special RAS technology that will allow us to
modify the molting cycle of the Atlantic Blue Crab and therefore be able to harvest them
in the off-season. The existing crab season starts in March in Louisiana, and moves
slightly northward every couple of weeks until you hit September in New Jersey.
Outside of this window, it’s almost impossible to get any of this product and bring it to
the North American market. We believe with this technology, we will be able to satisfy
consumer’s desire to enjoy the Atlantic Blue Crab all year long.” said Rodrigo
Mezerhane, a Senior Project Manager at Blue Star. “We believe that Blue Star has the
unique ability to leverage the technology that the team at Gault Seafood have created
and scale it to establish a whole new market that does not exist today.”

“The acquisition of Gault Seafood follows an M&A strategy that we have established for
ourselves, which is to acquire new innovative technologies, or companies where we can
layer in our sustainable resource management model, or that diversifies our offering of
marine protein species, “said John Keeler, Chairman and CEO of Blue Star. “This will be
our third acquisition in 2 years, and it shows our history of our being able to successfully
identify, acquire and operationally integrate new companies into our organization.”
The acquisition of Gault Seafood is being done through a combination of cash and
equity. The transaction is expected to close in Q1-2022. Newbridge Securities
Corporation is acting as the Exclusive M&A Advisor to Blue Star Foods Corp. and The
Crone Law Group is acting as the Company’s Legal Counsel.

About Blue Star Foods Corp.
Blue Star Foods Corp. is an integrated ESG seafood company that processes, packages
and sells high-value seafood products. The Company believes it utilizes best-in-class
technology, in both resource sustainability management and traceability, and ecological
packaging. The Company also owns and operates the oldest continuously operating
Recirculating Aquaculture System (RAS) full grow-out salmon farm in North America.
The company is based in Miami, Florida, and its corporate website is:

Forward Looking Statements
The foregoing material may contain “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934, each as amended. Forward-looking statements include all statements that
do not relate solely to historical or current facts, including without limitation the
Company’s proposed development and commercial timelines, and can be identified by
the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,”
“plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those
words or other comparable words. Forward-looking statements are not guarantees of
future actions or performance. These forward-looking statements, including the

potential listing of the Company’s common stock on Nasdaq, are based on information
currently available the Company and its current plans or expectations and are subject
to a number of uncertainties and risks that could significantly affect current plans. Risks
concerning the Company’s business are described in detail in the Company’s Annual
Report on Form 10-K for the year ended March 31, 2020, and other periodic and current
reports filed with the Securities and Exchange Commission. The Company is under no
obligation to, and expressly disclaims any such obligation to, update or alter its forward-
looking statements, whether as a result of new information, future events or otherwise.