Texas-based NaturalShrimp announce plans for merger, expansion
January 12, 2023 By RAStech staff
U.S.-based RAS shrimp producer, NaturalShrimp Inc., is making plans for a proposed merger with a blank check company to support further plans of expansion.
According to a press release, Texas-based NaturalShrimp plans to merge with Nevada-based Yotta Acquisition Corp., founded by Hui Chen.
Yotta Acquisition Corp. will issue 17.5 million of its common shares (current valuation of US$175 million) to the security holders of NaturalShrimp. In addition, the stockholders of NaturalShrimp are entitled to receive an additional five million common shares (worth approximately US$50 million) based on achieving certain revenue targets for 2024 and five million common shares (worth about US$50 million) based on achieving certain revenue targets for 2025.
NaturalShrimp recently announced the launch of its online ordering, home delivery program and e-commerce website, www.naturalshrimpharvest-select.com. The online retail store includes fresh harvested heads-on shrimp, unique NaturalShrimp sauces and spices, recipe books, and instructional videos for the home cook.
“This launch creates a tremendous opportunity to further our mission to provide the freshest shrimp and seafood to local markets everywhere,” said Gerald Easterling, CEO of NaturalShrimp. “This direct-to-consumer expansion diversifies and complements our commercial distribution strategy including our planned U.S. facility expansion, partnership with U.S. Foods, South Texas area, and the continued success of our live shrimp sales program.”
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