Dallas, Texas, July 23, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- NaturalShrimp, Inc. (OTCQB: SHMP), the aquaculture company that has developed and patented the first commercially-operational RAS (Recirculating Aquaculture System) for shrimp, announced today it plans to build an adjacent 40,000 square foot production facility (Site 2), at the La Coste site in Texas.
This facility will mirror the existing site currently under construction. The current site will consist of a 40,000 square foot shrimp production building currently under construction that contains twenty (20) 2,000-gallon nursery tanks, forty (40) 20,000-gallon grow out tanks, two (2) 10,000-gallon settling tanks, and one (1) 20,000-gallon harvest tank for a total tank volume capacity of 880,000 gallons. Office suites, a conference room and reception center will be located at the existing site and will be available for usage for both facilities. Similar to the periodic updates on the rebuild of its ultramodern facility currently being constructed, updates will be made available after the launching of this project.
“Doubling the size of our operations at La Coste will provide us the capacity to scale our business to a level we believe will be required to meet the demand the marketplace will have for our product,” said William Delgado, CFO of NaturalShrimp. “Our strategy is to aggressively expand throughout the country and become the market leader in fresh, never frozen, naturally grown shrimp, without the use of antibiotics or toxic chemicals,” added Mr. Delgado.
ABOUT NATURALSHRIMP: 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. The statements in this release specifically require successful completion of the previously announced offering from the investment banking firm so named in the filed 8K.
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
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