NaturalShrimp, Inc. CEO Issues Letter to Shareholders.
Dallas, Texas, March 18, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — NaturalShrimp, Inc. (SHMP), the aquaculture company that has developed and patented the first commercially-operational RAS for shrimp has issued the following letter to shareholders from its CEO Gerald Easterling:
Dear Fellow Shareholders,
As many of you are now aware, our shrimp family has been dealt a blow in already uncertain times. We are sad to report this morning that a fire has destroyed the main building at our La Coste, TX facility. The main building housed our nursery, grow-out tanks, and EC machinery. Luckily, the fire did not affect our offices, greenhouse, or maintenance buildings. It is believed at this time that the fire was caused by a natural gas leak near the boiler room. The fire marshal is conducting an investigation and we will report the findings when they become available.
The future of Natural Shrimp, Inc remains very bright. We believe the insurance proceeds will assist the company to reconstruct a newer, state of the art building in which to house our tanks and equipment. Our shrimp, which numbered approximately 1.5M PL’s, were growing on schedule and were extremely healthy. Our equipment and new tanks were operating efficiently and as we had expected. All of our subsidiary initiatives continue to do well and we expect to announce the status of those initiatives shortly.
We appreciate the support we continue to receive and are looking forward to better days ahead.
We will continue to keep everyone updated via our website https://naturalshrimp.com. Please utilize the website for information as we will be updating the site with the latest news. Thanks again for your continued support as we work through this event.
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.
Forward Looking Statements
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 June 29, 2019, and in our other filings with the U.S. Securities and Exchange Commission.
Back to News