DALLAS, TX, June 09, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- As stated in the June 3, 2020 press release, NaturalShrimp has decided to rebuild in LaCoste, Texas. The Company has spent the last 10 weeks developing a detailed design of the next facility to serve as the model shrimp production facility for future expansion.
The Company has now begun the construction process and has committed more than $1.2M in orders for both the Electrocoagulation (EC) equipment and the metal building structure. The new 40,000 square foot shrimp production facility will be 6,000 square feet larger than the previous pilot plant. In addition, the plans include converting the existing 8,000 square foot greenhouse structure into a water treatment plant. Utilizing the same area for the new building and utilizing the greenhouse as a water treatment plant should expedite the construction timeline.
The shrimp production begun in the previous pilot plant allowed the Company to fine tune some of the design components and this new, larger building will allow the Company to increase production to more than 3,000 pounds per week when completed and fully stocked.
With funding in place and the construction process begun, the Company will now begin providing construction updates through regular press releases as the Company progresses toward stocking, growing, and harvesting shrimp using their patented EC technology.
ABOUT NATURAL SHRIMP: NaturalShrimp, Inc. is a publicly traded aqua-tech Company, headquartered in Dallas, with production facilities located near San Antonio, Texas. 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.
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-K filed on March 30, 2015, and in our other filings with the U.S. Securities and Exchange Commission.
Contact: Paul Knopick
E & E Communications
940.262.3584
pknopick@eandecommunications.com