LA COSTE, Texas, Jan. 24, 2017 /PRNewswire/
-- NaturalShrimp Incorporated (OTCQB: SHMP) (the "Company"), a global eco-friendly producer of shrimp grown in
technologically unique indoor saltwater facilities, has extinguished approximately $430,000 of
additional debt with two debt holders in exchange for common stock of the Company. This comes on the heels of the Company's
retirement of approximately $2,500,000 last week with a separate debt holder.
The Company entered into debt exchange agreements with the two debtors whereby the company agreed to issue approximately
1,225,000 shares of common stock, at a value of $0.35 per share, in
full payment of the debts.
NaturalShrimp President, Gerald Easterling, commented, "We are pleased that our debt holders have expressed the confidence in our business by agreeing to accept equity in our company to
extinguish these debts. We believe that this is a testament to the positive path we are on as we execute our business plan
and also strive to build a healthier balance sheet moving forward."
NaturalShrimp Chief Financial Officer William Delgado also commented, "This was a clean and
straightforward transaction with a modest discount to our current market price; we are excited about the continued improvement in
our financial strength. These balance sheet improvements strengthen our position as we move towards roll-out of our
technology. As stated before, we expect to announce further financial improvements over the coming weeks."
About NaturalShrimp Incorporated
NaturalShrimp Incorporated is a publicly-traded agro-tech company located near San Antonio,
in La Coste, Texas. It has developed and tested the first commercially viable system for
growing shrimp indoors using proprietary technologies in a system that produces healthful, naturally grown shrimp without the use
of antibiotics or toxic chemicals. Visit www.naturalshrimp.com.
Forward-Looking Statements
This press release may contain forward-looking statements, including expected industry patterns and other financial and
business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels
of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such
risk factors include, among others: the viability of the Company's technology in the market; the Company's ability to retain key
employees; the Company's ability to gain customer acceptance of its products; general market conditions; changes in operations
and product strategy; and the risks and uncertainties discussed under the heading "Risk Factors" in Item 1 of our Annual Report
on Form 10-K for the fiscal year ended March 31, 2016, and in our other filings with the Securities
and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.
Contact Information:
Bill G. Williams, Chief Executive Officer
NaturalShrimp Incorporated
Telephone: (888) 791-9474
E-Mail: billgwilliams@att.net
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SOURCE NaturalShrimp Incorporated