NaturalShrimp, Inc. (OTCQB:SHMP) has completed a registered direct offering of 24,545,455 shares, raising $13.5 million at $0.55 per share. GHS Investments, LLC acquired the shares, with proceeds primarily aimed at settling debt from the purchase of Vero Blue Farms' assets. Remaining funds will support ongoing transactions related to letters of intent and expansion projects at NaturalShrimp's Iowa facility. This offering was executed under the effective shelf registration statement (333-253953) filed with the SEC.
NaturalShrimp, Inc. (OTCQB: SHMP) has begun transferring shrimp from nursery to grow-out tanks at its La Coste, Texas production facility. This facility features twenty 2,000-gallon nursery tanks and forty 20,000-gallon grow-out tanks, designed to optimize production space.
The process involves gravity flowing shrimp that have reached the appropriate size from nursery to grow-out tanks, where they will grow until harvest. The company utilizes patented technology for antibiotic-free shrimp production in contained environments, enhancing quality and sustainability.
NaturalShrimp announced a visit by Governor Kim Reynolds and Iowa officials to its aquaculture facility in Webster City on March 26, 2021. The visit showcased the company's growth and expansion in Northern Iowa, with Governor Reynolds highlighting the positive impact on the state's diverse agricultural economy. CEO Gerald Easterling noted that production in Iowa could create 50-100 high-paying jobs and provide fresh shrimp to the Midwest. The company aims to explore more opportunities to enhance production and services.
NaturalShrimp plans to collaborate with state and local officials to open a new processing plant in Webster City, Iowa. A preview event is scheduled for March 23, 2021, to discuss the stocking of hatchery shrimp and plant development. CEO Gerald Easterling highlighted the potential for this processing facility to create around 50 jobs and generate substantial revenue. CFO William Delgado mentioned their ongoing facility expansion and equipment installation, projecting increased shrimp deliveries to the upper Midwest. An S-3 filing aims to settle debts and fund a $10 million expansion in Texas, effectively tripling production capacity.
NaturalShrimp, Inc. (OTCQB:SHMP) has filed a primary shelf registration statement on Form S-3, aiming to sell up to $100 million in securities. The completion of any offerings is contingent upon SEC approval, market conditions, and other factors. If approved, securities will be sold through a written prospectus. The company emphasizes that this press release does not constitute an offer to sell or solicit offers to buy securities.
Additionally, the release includes forward-looking statements about the company’s growth strategy, noting potential risks and uncertainties affecting future results.
NaturalShrimp, Inc. (OTCQB: SHMP) is increasing production at its Texas and Iowa shrimp facilities after passing a successful inspection by the Texas Parks and Wildlife Department. Regular stocking of postlarvae shrimp will begin on March 3, enabling year-round weekly production. The company has completed the construction of 40 growout tanks in Texas ahead of schedule. In Iowa, they are converting existing facilities to implement their patented filtration systems, with the first stocking anticipated by March 24. NaturalShrimp utilizes an innovative RAS for antibiotic-free shrimp production.
NaturalShrimp, Inc. (OTCQB: SHMP) announced a recent successful inspection from the Texas Parks and Wildlife Department at its La Coste, Texas facility. The inspector reported that the shrimp were healthy, showcasing full guts and no signs of various health issues, including emaciation and deformities. This routine inspection confirms the viability of NaturalShrimp's patented Recirculating Aquaculture System for producing gourmet-grade Pacific white shrimp without antibiotics or toxic chemicals. The company aims to execute its global growth strategy, despite inherent risks in the aquaculture industry.
NaturalShrimp has signed a Letter of Intent (LOI) to acquire the aquaculture assets of Hydrenesis Aquaculture for $12.5 million, comprising $5.5 million in cash and the rest in NSI common stock. The acquisition is predicted to be accretive to earnings in fiscal year 2021. Both companies have collaborated since 2018, focusing on innovative solutions for disease control in the aquaculture sector, which includes salmon and tilapia farming. The deployment of Hydrenesis technology aims to enhance water quality and overall shrimp growth.
NaturalShrimp, Inc. (OTCQB:SHMP) appointed Peter Najarian to its advisory board, enhancing its leadership during a critical growth phase. CEO Gerald Easterling emphasized Najarian's extensive expertise in capital markets, expecting his strategic input to influence upcoming launches in La Coste and Iowa. CFO William Delgado noted the potential for insights on macro-economic trends as the company expands operations. Najarian, co-founder of market firms optionMONSTER and tradeMONSTER, brings a robust trading background, aiming to bolster NaturalShrimp's mission of eco-friendly shrimp production.
NaturalShrimp (OTCQB:SHMP) announces the appointment of Pete Najarian to its advisory board, a move aimed at enhancing strategic guidance as the company expands its operations. CEO Gerald Easterling highlighted Najarian's extensive experience in capital markets as invaluable during this pivotal period. Najarian, a recognized business figure and co-founder of optionMONSTER, expressed his enthusiasm about contributing to the company's growth in the seafood industry. NaturalShrimp aims to become a leading player in the consumer staples sector with innovative, ecologically controlled shrimp production.