DALLAS, TX — – The renovation project at the NaturalShrimp, Inc.’s (OTCQB: SHMP) pilot production facility is proceeding as scheduled and is expected to be completed and fully operational, using its patented technology to grow gourmet-grade shrimp without the use of antibiotics or toxic chemicals, during the second quarter of 2020. This project entailed validating proper operation of the installed nursery and grow-out tanks and equipment with test batches of shrimp. When completed, the pilot plant will utilize four nursery tanks and 40 grow-out tanks having a total volume capacity of more than 600,000 gallons. Photos of some of the installed tanks can be found on our website at www.naturalshrimp.com.
The recently announced signed contract with Sea Products Development (SPD), LLC will allow NaturalShrimp, Inc. to begin limited shrimp production during the second quarter of 2020 and full production during the third quarter of 2020. The first shipment of 500,000 postlarvae shrimp from SPD is scheduled to arrive at the La Coste pilot plant on February 5, 2020. A photo showing a one net sample of shrimp taken from one of our nursery tanks just prior to gravity flowing into our grow-out tanks can be found on our website at www.naturalshrimp.com.
Tom Untermeyer, Chief Technology Officer of NaturalShrimp, commented: “The pilot plant has undergone considerable changes in order to convert it into a first-class shrimp production facility. In addition to removing and replacing the plastic lined tanks with new fiberglass tanks and constructing a new in-ground 20,000-gallon concrete gravity fed harvest tank, the renovation involves routing new electrical wiring, air plumbing, and water plumbing throughout the 30,000 square foot production area. It has also included receiving and installing electrocoagulation equipment, supporting filtration vessels, new custom automated feeding devices, and alarm condition monitoring. Building renovations include new laboratory space and controlled access.”
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.
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.