Dallas, TX, Aug. 08, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Natural Shrimp, Inc., an aquaculture Company which has developed and patented the first commercially operational RAS for shrimp, announced today a $5,000,000 commitment in Preferred equity financing facility from GHS Investments, LLC.
The new $5,000,000 Preferred equity, being executed with GHS
Investments, LLC, allows GHS to purchase up to $5,000,000 in Preferred stock at a fixed price of $1,000 per Preferred Share with a stated value at $1,200/Preferred Share. The total commitment is for $5,000,000. The first $250,000 Preferred stock purchase is expected in the next few days. The agreement with the terms and conditions can be accessed via a forthcoming 10K.
Commenting on the financing, Natural Shrimp’s CFO, William J. Delgado, noted, “Today’s announcement demonstrates our ability to raise significant capital as we seek to expand and develop our patented technology. The Preferred stock agreement will allow us to strengthen our stockholders’ equity section on our balance sheet, thereby allowing us to further meet the commitments to up list on a senior exchange sometime in the near future.”
Gerald Easterling, President of Natural Shrimp, added: “We have been developing several initiatives over the last several months. This new Capital will allow us to begin executing on those initiatives. These initiatives are both domestic and international in nature. We hope to begin announcing these developments in the next few days. Included will be additional information on refinements related to our P/L and hatchery plans and specifications.”
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