NaturalShrimp and Gulf Seafood Announce Extension of Commercial Partnership Into 2022 Based on Key Milestone Achievements and Increased Customer Demand
NaturalShrimp, Inc. (OTCQB: SHMP) has reinforced its partnership with Gulf Seafood Inc. to supply live shrimp, extending their trial agreement through Q1 2022. The collaboration has seen successful deliveries since November 2021, utilizing GSI's unique waterless packaging. CEO Gerald Easterling highlighted the potential for increased sales and direct supply from their LaCoste facility starting February. GSI expressed optimism for a long-term arrangement following positive customer feedback during the trial period and plans for expansion into Las Vegas and Florida.
- Ongoing partnership with GSI, indicating strong collaboration.
- Successful trial deliveries since November 2021 using innovative waterless packaging.
- Increased live shrimp sales expected as operations ramp up in 2022.
- Establishment of direct supply from LaCoste facility anticipated in February.
- Positive customer feedback suggesting market acceptance of products.
- None.
DALLAS, TX, Jan. 31, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – NaturalShrimp, Inc. (OTCQB: SHMP), a Biotechnology Aquaculture Company that has developed and patented the first shrimp-focused, commercially operational RAS (Recirculating Aquaculture System), today announced with the ongoing success of its trial partnership agreement with Gulf Seafood Inc. (GSI) for live shrimp, the two companies have committed to continuing the partnership for the remainder of the first quarter of 2022.
The three-month trial began in October 2021 with the agreement to deliver live shrimp that GSI purchases, distributes and markets over the period. First deliveries were announced in November to customers in several major cities and transported using GSI’s proven waterless packaging method of keeping shrimp alive during shipping without the need for adding water to the package. Deliveries have continued to ramp into the new year as a live packaging line was delivered, installed and tested at the LaCoste, Texas facility with live shrimp to be delivered to San Antonio, Houston and Dallas.
“Our partnership with GSI has been an overwhelming success and we look forward to continuing our live shrimp deliveries to them and rapidly grow quantities of live shrimp sales in 2022,” said Gerald Easterling, CEO of NaturalShrimp. “We have harvested numerous times from Webster City and established several strategic relationships which we expect to become long term supply arrangements. The packaging facility in LaCoste has been installed and tested, and we expect to start supplying customers directly from LaCoste in February.”
Stephen Alexander of Gulf Seafood Inc. added, “GSI is very excited to continue working with NaturalShrimp in the live shrimp market. GSI and NaturalShrimp have committed to continue working together for the first quarter of 2022, after which we hope to have a long-term arrangement in place. The past three months have been very productive and have been met with positive customer feedback. We look forward to continue supporting NaturalShrimp with live shrimp sales in the future, especially with the recently announced expansions into Las Vegas and Florida.”
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 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.
Investor Relations Contact
Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
SHMP@mzgroup.us
FAQ
What is the current status of NaturalShrimp's partnership with GSI?
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