NaturalShrimp Purchases Approximately $2,000,000 of Electro-Coagulation (EC) Units and Associated Equipment

Rhea-AI Summary

NaturalShrimp, a biotechnology aquaculture company, announced the purchase of 20 EC units for its facilities in La Coste, TX and Webster City, IA. A 50% deposit has been made, with the remaining balance due upon completion and shipping. This expansion will enhance operations at both sites to 100% capacity for EC equipment. CEO Gerald Easterling expressed enthusiasm for meeting operational needs, hinting at further updates on production soon. The company specializes in antibiotic-free shrimp farming using patented recirculating aquaculture technology.

Positive

• Purchase of 20 EC units enhances operational capacity at La Coste and Webster City facilities.
• 100% EC equipment capacity achieved at both facilities post-deployment.
• Manufacturing by US-based IP Automation supports local economy.

Negative

• None.

-Purchase of Twenty (20) EC units to be deployed in La Coste, TX and Webster City, IA

Dallas, Texas, May 14, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- NaturalShrimp, Inc., a Biotechnology Aquaculture Company, which has developed and patented the first commercially operational Recirculating Aquaculture System (RAS) for shrimp, announced today that it has purchased twenty (20) EC Units and associated equipment for its plant operations in LaCoste, TX and Webster City, IA. NaturalShrimp has paid a 50% deposit on the equipment with the balance due upon completion and shipping. Four (4) units will be deployed to LaCoste, TX and Sixteen (16) units will be deployed to Webster City, IA. The equipment will be manufactured by the Company’s contract manufacturer, IP Automation, located in Colorado Springs, CO.

Gerald Easterling, CEO of NaturalShrimp, added, “NaturalShrimp is extremely excited to finalize our equipment needs for our existing facilities in Texas and Iowa. These units, manufactured in the USA, will bring the EC equipment requirements to 100% at both facilities. We will require an additional 16 EC Units once expansion construction is complete in LaCoste, TX. Additional news on current production will be forthcoming in the next several days.”

ABOUT NATURALSHRIMP: NaturalShrimp, Inc. is a publicly traded all Natural Biotechnology Aquaculture Company, headquartered in Dallas, with production facilities located near San Antonio, TX and Webster City, IA. 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.

ABOUT IP Automation: IP Automation is located in Colorado Springs, CO. IP Automation specializes in the design, development and manufacturing of custom one–of–a–kind devices and machines, from one to many. IP Automation has been developing machines, and automation for over 30 years. For the last 15 years, IP Automation developed and manufactured different size EC units to support customers’ needs.

Forward Looking Statements

This press release contains "forward-looking statements." The statements contained in this press release that are not purely historical are forward-looking statements. Forward-looking statements give the Company's current expectations or forecasts of future events. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company's control, and could cause the Company's results to differ materially from those described. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. These statements include statements regarding moving forward with executing the Company's global growth strategy. The statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict. The Company is providing this information as of the date of this press release and does not undertake any obligation to update any forward looking statements contained in this press release as a result of new information, future events or otherwise, except as required by law. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Important factors that could cause such differences include, but are not limited to the Risk Factors and other information set forth in the Company's Annual Report on Form 10-Q filed on February 16, 2021, and in our other filings with the U.S. Securities and Exchange Commission.

Contact:
Richard Brown
508-462-9638

SOURCE: NaturalShrimp

FAQ

What was announced by NaturalShrimp on May 14, 2021?

NaturalShrimp announced the purchase of 20 EC units for deployment in La Coste, TX, and Webster City, IA.

What is the significance of the EC units purchased by NaturalShrimp?

The EC units will enhance operational capacity, bringing the total to 100% at both La Coste and Webster City facilities.

How much deposit did NaturalShrimp pay for the EC equipment?

NaturalShrimp paid a 50% deposit on the EC equipment, with the balance due upon completion and shipping.

When can investors expect updates on NaturalShrimp's production?

CEO Gerald Easterling indicated that additional news on current production will be forthcoming shortly.

What technology does NaturalShrimp utilize for shrimp farming?

NaturalShrimp uses patented recirculating aquaculture technology, producing antibiotic-free shrimp.