NaturalShrimp Announces Agreement for the Purchase of Post-Larvae Shrimp
DALLAS--(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.
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.
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.
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Source: NaturalShrimp, Inc.
Released March 29, 2023