- Additional Technology Drives Current Shrimp Production and Scale
- Enables Product Expansion into $17 Billion Global Salmon Market, Barramundi and other Freshwater Fish Markets
DALLAS, TX, Aug. 26, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- NaturalShrimp, Inc. (OTCQB: SHMP), a Biotechnology Aquaculture Company that has developed and patented the first shrimp-focused, commercially operational RAS (Recirculating Aquaculture System), today closed the previously announced acquisition of the aquaculture assets of Hydrenesis Aquaculture, LLC for $12,500,000, consisting of $4,000,000 in cash and the balance due in NSI common stock, including a stock consideration payment at a price of $0.505 per share.
Hydrenesis, Inc. and Hydrenesis Aquaculture, LLC, headquartered in Pompano Beach, FL, are private technology owners and technology commercialization companies that partner with leading IP holders and industry insiders to commercialize innovative technologies in major industry sectors.
Hydrenesis “Redox” water treatment technologies have the ability to affect water chemistry and elevate water quality, and they are proving to be critical technologies for scaling hatchery and nursery systems and impacting growth and health metrics. Trials of the technology in Norway and Australia are showing preliminary efficacy in disease control in salmon, barramundi, and tilapia farming segments.
“The acquisition is expected to act as a major growth driver for NaturalShrimp, opening the door for expansion of our platform technologies into additional worldwide seafood markets, including salmon, barramundi, and other freshwater fish,” said Gerald Easterling, CEO of NaturalShrimp. “As long-term partners with Hydrenesis, we can immediately begin integration and deployment of the technology in our shrimp hatchery and nursery systems without interruption, and the acquisition is expected to be accretive to operations and earnings in fiscal year 2022.
“Extending commercialization of Hydrenesis technologies to additional species applications expands our addressable markets into the $17 billion global salmon market and other farmed freshwater fish. Demand for barramundi and tilapia continues to increase in the U.S., China, and other countries as consumers seek unique and sustainable fish options. The technology also expands our licensing opportunities, and we expect to file additional patents around the expansion of the application and use of the combined EC and Hydrenesis technology. Integrating Hydrenesis technology into our patented proprietary technologies will further advance our growth strategy and drive long-term value creation for our shareholders.”
David Antelo, CEO of Hydrenesis, Inc., commented, “Global demand for solutions within the aquaculture industry have afforded companies the opportunity to become leaders of innovation. It takes focus and persistence to provide viable, sustainable, and profitable solutions. Hydrenesis has striven to find the right relationships and we couldn’t be happier to join NaturalShrimp. Its executives are already technology focused and they have a deep understanding of how every aspect of water quality is going to be key to maximizing profitability in the indoor aquaculture sector. We’re looking forward to deploying our existing technologies together and to the joint development of exciting new technologies going forward that will lead the industry.”
About NaturalShrimp
NaturalShrimp, Inc. 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, 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. For more information visit www.naturalshrimp.com.
Forward-Looking Statements
This press release contains includes 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.
Investor Relations Contact
Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
SHMP@mzgroup.us
