GambaNatural de Espana Receives EU Subsidy Certificate

Bjorn Aspheim announced today that GambaNatural de Espana S.L.U. (the Spanish subsidiary of NaturalShrimp of Europe) has received a certificate confirming a subsidy (grant) on the first request of 799,520 Euros. In addition, they expect to receive a second certificate very soon in the amount of approximately 200,000 Euros, bringing the combined subsidy total to approximately 1,000,000 Euros. The Spanish company is in the process of converting existing BEI loans into an equity form, and as a result the existing equity will increase to approximately 500,000 Euros. These funds, along with a bank loan commitment of approximately 1,200,000 Euros, will fully fund the construction of our first Medina del Campo production facility, which is projected to cost more than 2,700,000 Euros.