NaturalShrimp, Inc. Closes on the Asset Purchase of Alder Aqua, LLC f/k/a VeroBlue Farms

PUBLISHED: Fri, 18 Dec 2020 10:22:00 GMT
Share

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers, but does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.
Download logo

The ten-million-dollar purchase represents assets in excess of forty million dollars; The addition of these assets makes NaturalShrimp, Inc (www.NaturalShrimp.com) the largest square footage RAS shrimp company in the United States.

NaturalShrimp, Inc. (NSI), (OTCQB:SHMP), an aquaculture Company which has developed and patented the first commercially operational Recirculating Aquaculture System (RAS) for shrimp, announced today that it has formally closed the acquisition for the assets of Alder Aqua, formerly known as VeroBlue Farms in Webster City, Iowa, including but not limited to the real property, equipment, tanks, rolling stock, inventory, permits, customer lists, contracts and other such assets used in the operation of the business.

Gerald Easterling, CEO of NaturalShrimp, commented, “This acquisition represents a watershed moment for both the Company and its shareholders. The state-of-the-art facility, alongside our other expansion project in La Coste, Texas provides NSI the resources and capacity to become the largest RAS shrimp producer in the country. This turnkey operation affords us the benefit of not only creating a facility that will produce thousands of pounds of shrimp per week, but also the opportunity to work with existing Barramundi distributors for an incremental revenue stream that could be effective in a relatively short time.”

Tom Untermeyer, Chief Technology Officer of NaturalShrimp, commented, “Closing on this facility provides us the ability to integrate our already patented electrocoagulation system technology with a technologically advanced commercial seafood operation. With 2,700,000 gallons of recirculating capacity and approximately 344,000 square feet, we are very encouraged that we will have the capability to produce the most natural shrimp in the industry at a rate not seen by other leading seafood producers.”

William J. Delgado, CFO of NaturalShrimp, added, “We could not be more pleased that we have formally closed this acquisition. The value proposition for this facility could not be understated. Not only do we have the benefit of adding this significant asset to our company’s valuation, more importantly, we firmly believe that this production facility will generate substantial revenue for our company. As important to these physical assets, we will be adding skilled personnel in all areas including production, operations and distribution.” 

Distributed by APO Group on behalf of NaturalShrimp, Inc..

Media Contact: Richard Brown (775) 443-4740 Natural Shrimp

About Naturalshrimp:  NaturalShrimp, Inc. (www.NaturalShrimp.com) is a publicly traded aquaculture 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.

Sign Up for Our Newsletter Daily Update
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.