Blue Star Foods Corp. Engages ShareIntel to Combat Alleged Illegal Short Selling

Blue Star Takes Action to Strengthen Measures to Safeguard Shareholder Interests

Miami, FL, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star, the Company,” “we,” “our” or “us”) (NASDAQ: BSFC), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), is pleased to announce that it has entered into a service agreement with ShareIntel-Shareholder Intelligence Services, LLC ("ShareIntel") to assist in their efforts to combat alleged illegal short selling activities on their stock.

ShareIntel will utilize its patented process called DRIL-Down to aggregate and analyze repository data from reporting entities, broker-dealers and shareholders, enabling Blue Star to proactively track shareholder ownership, identify parties to suspicious or unusual trading activity and deploy corrective action steps to help curtail such activity.

John Keeler, Chairman and CEO of Blue Star Foods, stated, “Based on the trading pattern of the stock, we are concerned that our Company may have been the target of a market manipulation scheme involving illegal short selling of our stock over the past year, and we are committed to investigating and exposing any wrongdoing. By leveraging ShareIntel’s patented processes and proprietary analytics, we will be able to find reporting anomalies among market makers, banks, broker-dealers and clearing firms. Blue Star has formed a board committee task force for this issue to pursue the necessary actions to protect the interest of its shareholders.”

About Blue Star Foods Corp. (NASDAQ: BSFC)

Blue Star Foods Corp. is an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS) 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:

About ShareIntel

ShareIntel-Shareholder Intelligence Services, LLC is a patented compliance driven SAAS retained by public companies to track shareholder ownership and monitor critical broker-dealer and shareholder movement. DRIL-Down identifies participants to potential abusive and illegal short selling providing actionable intelligence.

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 statements regarding the Company’s product development and business prospects, 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 are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties 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 December 31, 2021, 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.

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