NATURALSHRIMP INCORPORATED (OTCMKTS:SHMP) Files An 8-K Other Events
Item 8.01 Other Events.
On June 10, 2020, NaturalShrimp Incorporated (the “Company”) entered into a letter agreement with H.C. Wainwright & Co., LLC (“Wainwright”) under which Wainwright shall serve as the exclusive agent, advisor or underwriter in an offering (the “Offering”) of securities of the Company (the “Securities”). The terms of such Offering and the Securities issued in connection therewith shall be mutually agreed upon by the Company and Wainwright. Wainwright’s assistance in an Offering will be subject to the satisfactory completion of such investigation and inquiry into the affairs of the Company as Wainwright deems appropriate under the circumstances and to the receipt of all internal approvals of Wainwright in connection with the any proposed transaction. Wainwright’s involvement in an Offering is strictly on a reasonable best efforts basis, and the consummation of an Offering will be subject to, among other things, market conditions. The term of the Agreement begins on June 10, 2020 and ends six (6) months after a registration statement on Form S-1 in connection with an Offering becomes effective with the U.S. Securities and Exchange Commission.
The Company intends to use the proceeds from the Offering to support its facilities expansion, potential strategic acquisitions and for general working capital purposes.
About NATURALSHRIMP INCORPORATED (OTCMKTS:SHMP)
NaturalShrimp Incorporated is a global shrimp farming and biotechnology company. The Company has developed a technology to produce shrimp in an indoor, re-circulating, saltwater facility. The Company’s self-contained shrimp aquiculture system allows for the production of Pacific White (Litopenaeus vannamei) shrimp in an ecologically controlled fully contained and independent production system without the use of antibiotics or toxic chemicals. The Company has developed various technology assets, including a knowledge base that allows the production of commercial quantities of shrimp in a closed system with a computer monitoring system that automates, monitors and maintains proper levels of oxygen, salinity and temperature for optimal shrimp production. The Company’s primary solution against infectious agents is Vibrio Suppression Technology. Its subsidiaries include NaturalShrimp Corporation, NaturalShrimp Global, Inc. and Natural Aquatic Systems, Inc.
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