Natural Shrimp, Inc. Announces New Markets for Sale of Shrimp

Rhea-AI Summary

Natural Shrimp, Inc. (OTCQB: SHMP) has announced the expansion of its market presence by increasing production at its Webster City facility to support the sale of sushi-grade shrimp. The company has successfully entered the Chicago market and is now exploring new commercial outlets in the upper Midwest. Sales manager Brian Rashid has secured purchases from Asian markets in Minneapolis and Kansas City, with plans to expand further into other regional markets.

Positive

• Natural Shrimp, Inc. is successfully expanding its market presence by securing new commercial outlets for the sale of its premium grade shrimp, indicating growing demand and brand recognition.

• The company's increased production and successful sales efforts in Asian markets demonstrate its ability to cater to diverse customer preferences and expand its customer base.

Negative

• While the company's expansion into new markets is positive, there may be challenges in maintaining consistent quality standards and customer satisfaction as sales territories expand.

• Negotiations with other regional markets for further expansion may involve risks such as increased competition and potential logistical issues in managing a wider distribution network.

The Company Increases Production to support Market Expansion

DALLAS, May 1, 2024 /PRNewswire/ -- Natural Shrimp, Incorporated. (OTCQB: SHMP) (the "Company" or "NSI"), a Biotechnology Aquaculture Company that has developed and patented the first seafood-focused commercially operational RAS (Recirculating Aquaculture System), today announced that, as a result of significantly increased production at its Webster City facility, the Company is in the process of identifying, contacting and securing new commercial outlets for the sale of the Company's sushi grade shrimp.

As the Company has previously reported, Natural Shrimp has already penetrated the Chicago market and has established several repeat and reliable customers. What the Company has not reported is that the Company has been approached by these customers wanting to establish local distribution centers and to act on the Company's behalf to service other local markets, restaurants and end-users in the Chicago area.

With the Company's increased production, Brian Rashid, the Company's sales manager, has extended his sales territories to cover new and different commercial markets in the upper Midwest to familiarize these potential new customers with the superior qualities and characteristics of Natural Shrimp's premium grade shrimp.  Mr. Rashid has met with and secured purchases from Asian markets in Minneapolis and Kansas City and has made deliveries to groups in Tulsa.  When Mr. Rashid was asked about the success he had encountered in these new markets, Mr. Rashid stated: "I am lucky to have a product that, once presented and tasted, sells itself.  Since most new customers with whom I have met are unfamiliar with Natural Shrimp or its products, the process initially involves educating the potential customers in the manner and method of preserving, packaging and sales."

Mr. Rashid continues "We continue to target Asian markets that are more experienced in the sale of live seafood and whose customers trust they will provide then with the best quality.  As Natural Shrimp continues to gain traction and brand recognition in the marketplace, we expect to able to expand our footprint and serve a more generalized audience in the near future."  In this respect, the Company is currently in negotiations with other regional markets with the specific intention of expanding this footprint.

About Natural Shrimp

Natural Shrimp, Incorporated 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, naturally grown shrimp, without the use of antibiotics or toxic chemicals. Natural Shrimp 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, 2023, 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

FAQ

What markets has Natural Shrimp, Inc. announced for the sale of shrimp?

Natural Shrimp, Inc. has announced new commercial outlets in the upper Midwest for the sale of its sushi grade shrimp.

Who is the sales manager responsible for expanding sales territories?

Brian Rashid is the sales manager responsible for expanding sales territories for Natural Shrimp, Inc.

What is the stock symbol for Natural Shrimp, Inc.?

The stock symbol for Natural Shrimp, Inc. is SHMP.

What type of Aquaculture System has Natural Shrimp, Inc. developed?

Natural Shrimp, Inc. has developed and patented the first seafood-focused commercially operational RAS (Recirculating Aquaculture System).