Dallas, Texas, Nov. 06, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Natural Shrimp, Inc., an aquaculture Company which has developed and patented the first commercially operational Recirculating Aquaculture System (RAS) for shrimp, announced today that it has received the first $1,000,000 in subscriptions of its $5,000,000 Series B Preferred offering.
The $5,000,000 Series B Preferred subscriptions, executed with GHS Investments, LLC, allows the Company to access additional equity capital from GHS via this preferred equity structure. The terms and conditions of the Series B preferred can be accessed via the Company’s latest U.S. Securities & Exchange Commission filings.
Commenting on the financing, NaturalShrimp Chief Financial Officer, William J. Delgado, noted: “We are well underway on our expansion of the La Coste, Texas facility, including new fiberglass tanks and new Electrocoagulation (EC) units. We also are continuing our work with additional species, for example, Barramundi and Salmon via our majority owned subsidiary, Natural Aquatic Systems (NAS).”
Company Description NaturalShrimp, Inc.
NaturalShrimp, Inc. is an aquaculture Company which has developed and patented the first commercially operational Recirculating Aquaculture System (RAS) that produces fresh, gourmet-grade shrimp reliably and economically in an indoor, re-circulating, saltwater facility. Its eco-friendly, bio-secure design does not rely on ocean water, but rather recreates the natural ocean environment allowing for high-density production which can be replicated anywhere in the world.
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, 10-K filed on March 30, 2015, and in our other filings with the U.S. Securities and Exchange Commission.