NaturalShrimp, Inc. Closes on Asset Purchase of F&T Water Solutions LLC
- Ten-million-dollar purchase represents total consolidation of the Intellectual Property Portfolio for Natural Aquatic Systems (NAS) and Electro-Coagulation IP
Most Technologically Advanced RAS System in the World
Dallas, Texas, May 20, 2021 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — NaturalShrimp, Inc., (OTCQB:SHMP), a Biotechnology 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 of the assets of F&T Water Solutions, LLC. These assets comprise the 49% of Natural Aquatic Systems owned by F&T and the patents (Patent numbers 9,908,794 and 10,163,199) on the Electro-Coagulation system as well as the associated equipment and processes owned 50% and 100% respectively by F&T.
Gerald Easterling, CEO of NaturalShrimp, commented, “This acquisition represents the final phase of our joint development of the electro-coagulation (EC) technology begun by F&T Water Solutions and its former president Peter Letizia. We now own and control this EC technology as it relates to all aquaculture species and applications. We plan to utilize this technology in all of our shrimp growing operations and to license to other aquaculture ventures worldwide.”
Tom Untermeyer, Chief Technology Officer of NaturalShrimp, commented, “Working with F&T on this EC technology has been a rewarding adventure. With the system upgrades developed over the last several years, NaturalShrimp now has the most technologically and robust advanced aquaculture system currently in operation in the world.”
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-Q filed on November 15, 2020, and in our other filings with the U.S. Securities and Exchange Commission.