NaturalShrimp Announces Agreement for the Purchase of Post-Larvae Shrimp
DALLAS, March 29, 2023--(BUSINESS WIRE)--NaturalShrimp, Inc. (OTCQB: SHMP), a Biotechnology Aquaculture Company that has developed and patented the first shrimp-focused, commercially operational RAS (Recirculating Aquaculture System), has, through its wholly owned subsidiary, NaturalShrimp USA Corporation, entered into a year-long agreement with Homegrown Shrimp USA, Inc. ("Homegrown") for the purchase of post-larvae ("PL") shrimp for stocking in the Company’s Webster City, Iowa and La Coste, Texas facilities. The agreement provides for the delivery of up to 2,000,000 PLs per month for a term of twelve months.
"We are very pleased to finalize our agreement with Homegrown whom we consider to be the premier supplier of quality fast-growing PLs in the Country," said Gerald Easterling, CEO of NaturalShrimp. "Without the PLs there are no shrimp to grow or sell. This agreement will solve one of the supply-chain issues we encountered previously where the lack of PLs significantly impacted our ability to produce the quantities of NaturalShrimp that our customers demand."
In conjunction with Homegrown and industry specialists, the Company intends to develop its own hatchery using broodstock incorporating Homegrown’s genetic line in order to secure the Company’s own readily available supply of fast-growing, high quality PLs.
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.
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