NaturalShrimp Announces Agreement for the Purchase of Post-Larvae Shrimp
March 29 2023 - 8:31AM
Business Wire
NaturalShrimp, Inc. (OTCQB: SHMP), a Biotechnology Aquaculture
Company that has developed and patented the first shrimp-focused,
commercially operational RAS (Recirculating Aquaculture System),
has, through its wholly owned subsidiary, NaturalShrimp USA
Corporation, entered into a year-long agreement with Homegrown
Shrimp USA, Inc. (“Homegrown”) for the purchase of post-larvae
(“PL”) shrimp for stocking in the Company’s Webster City, Iowa and
La Coste, Texas facilities. The agreement provides for the delivery
of up to 2,000,000 PLs per month for a term of twelve months.
“We are very pleased to finalize our agreement with Homegrown
whom we consider to be the premier supplier of quality fast-growing
PLs in the Country,” said Gerald Easterling, CEO of NaturalShrimp.
“Without the PLs there are no shrimp to grow or sell. This
agreement will solve one of the supply-chain issues we encountered
previously where the lack of PLs significantly impacted our ability
to produce the quantities of NaturalShrimp that our customers
demand.”
In conjunction with Homegrown and industry specialists, the
Company intends to develop its own hatchery using broodstock
incorporating Homegrown’s genetic line in order to secure the
Company’s own readily available supply of fast-growing, high
quality PLs.
About NaturalShrimp
NaturalShrimp, Inc. is a publicly traded aquaculture Company,
headquartered in Dallas, with production facilities located near
San Antonio, Texas and Webster City, Iowa. The Company has
developed the first commercially viable system for growing shrimp
in enclosed, salt-water systems, using patented technology to
produce fresh, never frozen, naturally grown shrimp, without the
use of antibiotics or toxic chemicals. NaturalShrimp systems can be
located anywhere in the world to produce gourmet-grade Pacific
white shrimp. For more information visit www.naturalshrimp.com.
Forward-Looking Statements
This press release contains includes a number of forward-looking
statements that reflect management's current views with respect to
future events and financial performance. Forward-looking statements
are projections in respect of future events or our future financial
performance. In some cases, you can identify forward-looking
statements by terminology such as “may,” “should,” “expects,”
“plans,” “anticipates,” “believes,” “estimates,” “predicts,”
“potential” or “continue” or the negative of these terms or other
comparable terminology. These statements include statements
regarding the intent, belief or current expectations of us and
members of our management team, as well as the assumptions on which
such statements are based. Prospective investors are cautioned that
any such forward-looking statements are not guarantees of future
performance and involve risk and uncertainties, and that actual
results may differ materially from those contemplated by such
forward-looking statements. These statements are only predictions
and involve known and unknown risks, uncertainties and other
factors, including the risks set forth in the section entitled
“Risk Factors” in the Company's Annual Report on Form 10-K for the
fiscal year ended March 31, 2021, any of which may cause our
company’s or our industry’s actual results, levels of activity,
performance or achievements to be materially different from any
future results, levels of activity, performance or achievements
expressed or implied in our forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230329005130/en/
Investor Relations Contact Chris Tyson Executive Vice
President MZ North America Direct: 949-491-8235 SHMP@mzgroup.us