Blue Star Foods Corp (BSFC)

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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”) ( N ASDAQ : 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.”