Dallas, TX - (NewMediaWire) - September 30, 2020 - NaturalShrimp, Inc. (OTCQB: SHMP), the aqua-tech Company that has developed and patented the first commercially-operational RAS (Recirculating Aquaculture System) for shrimp, provides the following construction update:
The Company has completed the red steel framework of the 40,000 square foot shrimp production building and has begun installation of the exterior walls, roof, and insulation. In parallel, the Company began construction of the two 240-foot long and 7-foot wide internal catwalks. When completed, the catwalks will provide above nursery and growout tank access while providing maintainable routing of the aeration, heating, and filtration plumbing and electrical conduits that will service each of the tanks. Twenty more of the growout tank kits have shipped from the manufacturer and the Company has received 11 of the 20 required nursery tanks.
All the previously ordered Electrocoagulation (EC) systems have passed testing at the manufacturer facility and half of them have been received for installation in the Water Treatment Plant.
The construction schedule is proceeding as planned and the Company expects to stock the first tanks with shrimp for production by the end of 2020. Visit the NaturalShrimp website at https://naturalshrimp.com/ and look in the Gallery section at the bottom of any page to see ongoing photos of the shrimp production building and Water Treatment Plant progress.
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.
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.
Contact: Paul Knopick