NaturalShrimp Provides Update on Partnership with Leading Foodservice Distributor US Foods

Rhea-AI Summary

NaturalShrimp, Inc. (OTCQB: SHMP) announced the commencement of fresh shrimp deliveries to US Foods in Southern Texas, targeting customers in Austin, Houston, and San Antonio. This strategic initiative aims to educate customers and drive interest in their product through weekly deliveries supported by training and marketing materials. The company’s partnership with US Foods reflects strong market interest, with future plans for expansion into additional regions and the introduction of two new SKUs by late Q2 2023 to enhance product shelf life. NaturalShrimp utilizes patented technology to produce high-quality shrimp without antibiotics.

Positive

• Commencement of fresh shrimp deliveries to US Foods in Southern Texas, indicating strong market demand.
• Strategic partnership with US Foods aimed at expanding the distribution network.
• Plans to introduce additional SKUs by late Q2 2023 to enhance product offerings and shelf life.

Negative

• None.

Commences Fresh Deliveries to Strong Interest, Building Momentum Toward Expansion to New Geographic Hubs

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), today provided an update on its partnership with US Foods, South Texas area, including an exclusive grow out program for their customers in Austin, Houston, and San Antonio.

US Foods is one of America’s great food companies and a leading foodservice distributor, partnering with approximately 250,000 restaurants and foodservice operators to help their businesses succeed. With 70 broadline locations and more than 80 cash and carry stores, US Foods and its 28,000 associates provides its customers with a broad and innovative food offering and a comprehensive suite of e-commerce, technology, and business solutions.

NaturalShrimp has recently commenced deliveries of fresh shrimp to customers of US Foods, Southern Texas division, as part of a strategic program to educate and build interest in the product. Weekly deliveries and route cycles have been finalized and are supported with training, education, and marketing collateral.

“We are receiving strong interest as we begin to ramp up our partnership program with US Foods, supported by their professional and supportive team in the foodservices’ channel,” said Marco van den Berg, NaturalShrimp VP of Sales and Marketing. “We are building a great partnership that perfectly complements our grow out program and will aggressively drive our regional, weighted distribution model.”

“Looking ahead, with growing support for local producers and top-tier customers looking to differentiate their product offering from the rest of the industry, we are receiving requests to expand the Southern Division distribution model in other US Foods divisions/hubs, which will be supplied by our Iowa facility. We are also working on a new program, with two additional SKUs, to be implemented towards the latter part of Q2 2023 that will ensure maximizing shelf life and significantly increasing our marketing efforts. We are excited to continue working with US Foods to build on our partnership and look toward expanding the program regionally and nationally.”

About NaturalShrimp

NaturalShrimp, 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. 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.

No Offer or Solicitation

This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed Transaction and does not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, exchange, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230209005321/en/

Investor Relations Contact

Chris Tyson

Executive Vice President

MZ North America

Direct: 949-491-8235

SHMP@mzgroup.us

Source: NaturalShrimp, Inc.

FAQ

What recent developments has NaturalShrimp (SHMP) made with US Foods?

NaturalShrimp has begun fresh shrimp deliveries to US Foods in Southern Texas, focusing on Austin, Houston, and San Antonio.

How is NaturalShrimp (SHMP) expanding its market presence in Texas?

The company is ramping up deliveries and will introduce new products to its partnership program with US Foods.

What are the future plans for NaturalShrimp (SHMP) in 2023?

NaturalShrimp plans to expand its distribution model with US Foods and introduce two new SKUs by late Q2 2023.