Seafarms Group's Project Sea Dragon asset acquisition now unconditional

Seafarms Group Limited announced on December 2, 2025, that the acquisition of assets from Project Sea Dragon Pty Ltd (in liquidation) (PSD) has become unconditional. The creditors of PSD unanimously passed a resolution, fulfilling the conditions precedent outlined in the Asset Sale Agreement.

Sea Dragon Shrimp Pty Ltd (SDS), a wholly owned subsidiary of Seafarms Group, will now proceed to acquire all assets and undertakings of PSD, excluding certain specified property and cash. This development marks a key step forward for the Project Sea Dragon prawn aquaculture project in northern Australia.

Seafarms Group Limited, an aquaculture company known for producing Crystal Bay® Prawns, confirmed it would provide further market updates as it progresses with development, permitting, and investment activities.