Assets to be acquired for $ 12,500,000; NSI‘s upcoming major funding announcement.
(LOI) to acquire the aquaculture assets of Hydrenesis Aquaculture, LLC for $ 12,500,000, including $ 5,500,000 in cash and the balance owing in common shares of NSI. The acquisition is expected to increase earnings in fiscal 2021.
Gerald Easterling, CEO of NaturalShrimp added, “NaturalShrimp has been working with Hydrenesis since 2018 on several solutions for the industry with the Hydrenesis team. We currently have trials underway in Norway and Australia. The company intends to immediately begin the deployment of the technology in our hatchery and nursery systems. We also believe that the Hydrenesis technology will have major impacts on disease control in the salmon, barramundi and tilapia farming segments. We plan to file additional patents relating to application extension and use of the combined EC and Hydrenesis technology. “
David Antelo, CEO of Hydrenesis, Inc., said, “We are excited about the next evolution of our relationship with NaturalShrimp. For several years, we have been exploring the application of “Redox” water treatment. The ability of our technologies to affect water chemistry and raise water quality is found to have a significant impact on growth and health parameters. Natural Shrimp’s bold vision and rapid growth trajectory make it the ideal partner for expanding the commercialization of Hydrenesis technologies to other species applications.
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