Edgewater Foods International, Inc. (OTCBB: EDWT) announced today record results for its scallop harvest, which began in October, due to the dramatic improvement in the average size of the Company's Pacific scallop. Average weight per scallop increased from 150-180 grams to over 225-250 grams -- representing an increase of over 20% from the previous year. The Company expects to bring approximately 500,000 scallops to market from our harvest that began in October. Scallop prices have also improved significantly in 2006 (effective December 1, 2006): from $3.95/lb to $4.20/lb. The Pacific scallop, farmed by the Company, also continues to prove itself highly disease resistant, with a 95% survival rate during the grow-out phase.
In addition, the Company announced that it spawned 350 million larvae in the spring of 2006 and planted significant numbers of scallops of the 2006 class. These scallops are currently in pearl nets and will be reduced in density and moved to lantern nets in the coming months.
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