Four of the six leases expire March 27 and no further extensions can be granted, while the two for St. Margarets Bay and Mahone Bay expire July 9, but a three-month extension is possible.

Cermaq, which has always maintained that its operations are environmentally sound, said it needs more time to consult with fishermen and carry out tests to determine the suitability of coastal areas under consideration.

"We're committed to coming out and saying something by the end of March when the deadline is up, so definitely in a few weeks we'll be coming out and saying what our next steps are," said Sams.