Market Newsdesk

BOSTON, Feb. 23, 2021 (GLOBE NEWSWIRE) — Albireo Pharma, Inc. (Nasdaq: ALBO), a clinical-stage rare pediatric liver disease company developing novel bile acid modulators, today announced participation in the upcoming Cowen 41st Annual Health Care Conference March 1-4, 2021. Ron Cooper, President and Chief Executive Officer of Albireo, will take part in the New Drug Launches Panel on Wednesday, March 3, 2021 at 10:20am ET. Members of the management team will also host meetings with investors on March 2.

The Company will also be participating in the H.C. Wainwright Global Life Sciences Conference March 9-10, 2021. Simon Harford, Chief Financial Officer, and Pamela Stephenson, Chief Commercial Officer, will take part in a fireside chat on March 9 at 7am ET, which will be available on-demand on the Albireo Media & Investors page ir.albireopharma.com. Ron Cooper and members of the management team will also host meetings with investors on March 9.

About Albireo

Albireo Pharma is a clinical-stage biopharmaceutical company focused on the development of novel bile acid modulators to treat rare pediatric and adult liver diseases. Albireo’s lead product candidate, odevixibat, is being developed to treat rare pediatric cholestatic liver diseases with Phase 3 pivotal trials in PFIC, Alagille syndrome and biliary atresia. The Company completed IND-enabling studies for new preclinical candidate A3907 and plans to advance development in adult liver disease. Albireo was spun out from AstraZeneca in 2008 and is headquartered in Boston, Massachusetts, with its key operating subsidiary in Gothenburg, Sweden. The Boston Business Journal named Albireo one of the 2020 Best Places to Work in Massachusetts for the second consecutive year. For more information on Albireo, please visit www.albireopharma.com.

Media & Investor Contacts:

Colleen Alabiso, 857-356-3905, [email protected]
Hans Vitzthum, LifeSci Advisors, LLC., 617-430-7578

–TADFIN™,

Tadalafil 5mg and Finasteride 5mg formulated capsule, for daily oral dosing to improve compliance–

–Administration of

Tadalafil and Finasteride is more effective than Finasteride alone to treat symptoms of benign prostatic hyperplasia–

—

FDA PDUFA Date is expected in December 2021–

–Plan to launch TADFIN, if approved, via telemedicine channels and to outlicense–

–TADFIN revenues will be part of Veru’s sexual health commercial business–

MIAMI, Feb. 23, 2021 (GLOBE NEWSWIRE) — Veru Inc. (NASDAQ: VERU), an oncology biopharmaceutical company with a focus on developing novel medicines for the management of prostate cancer and breast cancer, today announced that it has submitted a 505(b)(2) New Drug Application (NDA) with the U.S. Food and Drug Administration (FDA) for TADFIN^™ (tadalafil 5mg and finasteride 5mg) capsules, a novel oral daily dosing combination formulation, for the treatment of benign prostatic hyperplasia (BPH).

“The submission of TADFIN, the Company’s first NDA submission, is a significant milestone and a major step toward expanding the revenues for our sexual health commercial business—revenues we have used to substantially invest in the clinical development of our prostate and breast cancer drug candidates,” said Mitchell Steiner, M.D., Chairman, President and Chief Executive Officer. “We believe FDA approval of TADFIN is possible toward the end of the current calendar year, with a launch shortly thereafter via telemedicine or out-license of product to specialty pharmaceutical companies.”

Dr. Steiner further added: “Veru is focused on delivering on our deep and promising late-stage oncology pipeline.”

TADFIN combines both tadalafil 5mg and finasteride 5mg into one capsule formulation. CIALIS^® (tadalafil) tablets, for oral use (Eli Lily and Company) is currently approved for treatment of BPH and erectile dysfunction and PROSCAR^® (finasteride) tablets (Merck & Co., Inc.) is currently approved for treatment of BPH and PROPECIA^® (finasteride) tablets for oral use for male pattern hair loss (androgenic alopecia) in men only (Merck & Co., Inc).

As previously announced, Veru received a waiver of the FDA NDA PDUFA filing fees, worth approximately $2.4 million in cost savings, as a first-time filer. If approved, the Company currently plans to launch TADFIN through third-party telemedicine sales channels, and outlicensing opportunities thus eliminating the need for and cost of a direct sales force.

About Veru Inc.

Veru Inc. is an oncology biopharmaceutical company with a focus on developing novel medicines for the management of prostate cancer and breast cancer. The Veru prostate cancer pipeline includes VERU-111, VERU-100, and Zuclomiphene citrate. VERU-111 is an oral, first-in-class, new chemical entity that targets, crosslinks, and disrupts alpha and beta tubulin subunits of microtubules for the treatment of metastatic castration and androgen receptor resistant prostate cancer. VERU-100 is a novel, proprietary peptide formulation designed to address the current limitations of commercially available androgen deprivation therapies (ADT) for advanced prostate cancer. Zuclomiphene citrate is an oral nonsteroidal estrogen receptor agonist being developed to treat hot flashes, a common side effect caused by ADT in men with advanced prostate cancer. The Veru breast cancer pipeline includes enobosarm for AR+/ER+/HER2- metastatic breast cancer and VERU-111 for taxane resistant metastatic triple negative breast cancer. Enobosarm is an oral, first-in-class, new chemical entity, selective androgen receptor agonist that targets and activates the androgen receptor in AR+/ER+/HER2- metastatic breast cancer without unwanted masculinizing side effects. VERU-111 is also being advanced into Phase 3 for the treatment of hospitalized patients with COVID-19 who are at high risk for acute respiratory distress syndrome.

The Company’s Sexual Health Business commercial product is the FC2 Female Condom^®/ FC2 Internal Condom (“FC2”), an FDA-approved product for the dual protection against unintended pregnancy and the transmission of sexually transmitted infections. The Company’s Female Health Company Division markets and sells FC2 commercially and in the public health sector both in the U.S. and globally. In the U.S., FC2 is available by prescription through multiple third-party telemedicine and internet pharmacy providers and retail pharmacies. In the global public health sector, the Company markets FC2 to entities, including ministries of health, government health agencies, U.N. agencies, nonprofit organizations and commercial partners, that work to support and improve the lives, health and well-being of women around the world. The NDA was submitted in February 2021 for TADFIN^™ (tadalafil 5mg and finasteride 5mg) capsule for the administration of tadalafil 5mg and finasteride 5mg combination formulation dosed daily for benign prostatic hyperplasia (BPH). Tadalafil (CIALIS^®) is currently approved for treatment of BPH and erectile dysfunction and finasteride is currently approved for treatment of BPH (finasteride 5mg PROSCAR^®) and male pattern hair loss (finasteride 1mg PROPECIA^®). If approved, revenues from TADFIN (tadalafil 5mg and finasteride 5mg) capsule and the current revenues from the FC2 business will be combined in our sexual health commercial business. To learn more about Veru products, please visit www.verupharma.com.

“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995:

The statements in this release that are not historical facts are “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this release include statements regarding
the regulatory pathway to secure FDA approval of the Company’s drug candidates, the anticipated timeframe for FDA submissions and approvals, preclinical and clinical study results including potential benefits and the absence of adverse events, the depth of the Company’s drug pipeline, statements regarding the formulation and manufacturing of TADFIN and satisfaction of the regulatory requirements for approval of TADFIN, the anticipated FDA acceptance of the preclinical studies and such design and scope, the ability of the Company to successfully launch and commercialize TADFIN
and implement the Company’s sales plans for TADFIN and statements regarding the Company’s financial resources and operational capability to manufacture and commercialize TADFIN and its other drug candidates. Any forward-looking statements in this release are based upon the Company’s current plans and strategies and reflect the Company’s current assessment of the risks and uncertainties related to its business and are made as of the date of this release. The Company assumes no obligation to update any forward-looking statements contained in this release because of new information or future events, developments or circumstances. Such forward-looking statements are subject to known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our actual results could differ materially from those expressed or implied by such statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to, the following: risks related to the development of the Company’s product portfolio, including clinical trials, regulatory approvals and time and cost to bring to market; potential delays in the timing of and results from clinical trials and studies, including potential delays in the recruitment of patients and their ability to effectively participate in such trials and studies due to COVID-19, and the risk that such results will not support marketing approval and commercialization; potential delays in the timing of any submission to the FDA and regulatory approval of products under development and the risk that
disruptions at the FDA caused by the COVID-19 pandemic may delay the review of submissions or approvals for new drugs
; the risk of a delay or failure in reaching agreement with the FDA on the design of a clinical trial or in obtaining authorization to commence a clinical trial; preclinical or clinical results or early data from clinical trials may not be replicated or continue to occur in additional trials or may not otherwise support further development in the specified product candidate or at all; our pursuit of a COVID-19 treatment candidate is at an early stage and we may be unable to develop a drug that successfully treats the virus in a timely manner, if at all; risks related to our commitment of financial resources and personnel to the development of a COVID-19 treatment which may cause delays in or otherwise negatively impact our other development programs, despite uncertainties about the longevity and extent of COVID-19 as a global health concern and the possibility that as vaccines become widely distributed the need for new COVID-19 treatment candidates may be reduced or eliminated
;
government entities may take actions that directly or indirectly have the effect of limiting opportunities for VERU-111 as a COVID-19 treatment, including favoring other treatment alternatives or imposing price controls on COVID-19 treatments; the risk that the Company’s products may not be commercially successful; risks related to the impact of the COVID-19 pandemic on our business, the nature and extent of which is highly uncertain and unpredictable; risks relating to the ability of the Company to obtain sufficient financing on acceptable terms when needed to fund development and operations, including our ability to secure timely grant or other funding to develop VERU-111 as a potential COVID-19 treatment; product demand and market acceptance; competition in the Company’s markets and therapeutic areas and the risk of new or existing competitors with greater resources and capabilities and new competitive product approvals and/or introductions; the risk that the Company will be affected by regulatory developments, including a reclassification of products; price erosion, both from competing products and increased government pricing pressures; manufacturing and quality control problems; compliance and regulatory matters, including costs and delays resulting from extensive governmental regulation, and effects of healthcare insurance and regulation, including reductions in reimbursement and coverage or reclassification of products; some of the Company’s products are in development and the Company may fail to successfully commercialize such products; risks related to intellectual property, including the uncertainty of obtaining patents, the effectiveness of the patents or other intellectual property protections and ability to enforce them against third parties, the uncertainty regarding patent coverages, the possibility of infringing a third party’s patents or other intellectual property rights, and licensing risks; government contracting risks, including the appropriations process and funding priorities, potential bureaucratic delays in awarding contracts, process errors, politics or other pressures, and the risk that government tenders and contracts may be subject to cancellation, delay, restructuring or substantial delayed payments; the risk that delays in orders or shipments under government tenders or the Company’s U.S. prescription business could cause significant quarter-to-quarter variations in the Company’s operating results and adversely affect its net revenues and gross profit; a governmental tender award indicates acceptance of the bidder’s price rather than an order or guarantee of the purchase of any minimum number of units, and as a result government ministries or other public sector customers may order and purchase fewer units than the full maximum tender amount or award; penalties and/or debarment for failure to satisfy tender awards; the Company’s reliance on its international partners and on the level of spending by country governments, global donors and other public health organizations in the global public sector; risks related to concentration of accounts receivable with our largest customers and the collection of those receivables; the economic and business environment and the impact of government pressures; risks involved in doing business on an international level, including currency risks, regulatory requirements, political risks, export restrictions and other trade barriers; the Company’s production capacity, efficiency and supply constraints and interruptions, including potential disruption of production at the Company’s and third party manufacturing facilities and/or of the Company’s ability to timely supply product due to labor unrest or strikes, labor shortages, raw material shortages, physical damage to the Company’s and third party facilities, COVID-19 (including the impact of COVID-19 on suppliers of key raw materials), product testing, transportation delays or regulatory actions; risks related to the costs and other effects of litigation, including product liability claims; the Company’s ability to identify, successfully negotiate and complete suitable acquisitions or other strategic initiatives; the Company’s ability to successfully integrate acquired businesses, technologies or products; and other risks detailed in the Company’s press releases, shareholder communications and Securities and Exchange Commission filings, including the Company’s Form 10-K for the fiscal year ended September 30, 2020 and subsequent quarterly reports on Form 10-Q. These documents are available on the “SEC Filings” section of our website at www.verupharma.com/investors.

Contact:

Sam Fisch                
800-972-0538
Director of Investor Relations

AUSTIN, Texas, Feb. 23, 2021 (GLOBE NEWSWIRE) — Ideal Power Inc. (Nasdaq: IPWR), pioneering the development and commercialization of highly efficient and broadly patented B-TRAN™ bi-directional power switches, named Jeffrey S. Knapp Vice President of Business Development. Mr. Knapp is a semiconductor industry executive with 20 years of diverse experience in engineering, design, sales, marketing, and business development of semiconductor devices and products.

“We are thrilled to welcome Jeff, who possesses impressive experience in power semiconductor sales and business development, to the key role of business development leader. In concert with our engineering team, Jeff will lead our effort to cultivate customer and partner relationships in the electric vehicle (EV), EV charging, renewable energy, uninterruptible power supply, solid state circuit breaker and other industrial and utility markets, communicating the benefits and unique advantages that B-TRAN™ offers over conventional power semiconductor technologies. This is a very exciting step forward for Ideal Power as we prepare for our upcoming engineering sampling program and subsequent commercialization of B-TRAN™ devices, and Jeff is supremely well-suited to this role,” stated Dan Brdar, CEO of Ideal Power.

Mr. Knapp joins Ideal Power from Crystal IS, a wholly owned subsidiary of Asahi Kasei Corporation, where he was Director of Sales. He previously held management positions with United Silicon Carbide, Fuji Electric, Hitachi, and Infineon where he directed the development and execution of the go-to-market plans for the sale of power semiconductors. In these roles, he opened new markets and consistently delivered growth in MOSFET, IGBT, diode, and IPM (Intelligent Power Module) product sales, deployed in both silicon and silicon carbide technologies. Jeff spearheaded design wins and sales growth in electric vehicles (including inverter and on-board charger), charging stations, renewable energy (including solar, wind, and energy storage), and other applications being targeted by Ideal Power.

Mr. Knapp stated, “I am very excited to join the Ideal Power team and look forward to making the company’s vision of B-TRAN™ disruptive power semiconductor technology a commercial reality. My experience and relationships with customers in the EV, EV charging, renewables and other industrial markets are a great match for the company’s target markets.”  

Jeff earned a BS in Electrical Engineering from the New Jersey Institute of Technology and an MBA from the University of Colorado.

About Ideal Power Inc.
Ideal Power (NASDAQ: IPWR) is pioneering the development of its broadly patented bi-directional power switches, creating highly efficient and ecofriendly energy control solutions for electric vehicle, electric vehicle charging, renewable energy, energy storage, UPS / data center and other industrial and military applications. The Company is focused on its patented Bi-directional, Bi-polar Junction Transistor (B-TRAN™) semiconductor technology. B-TRAN™ is a unique double-sided bi-directional AC switch able to deliver substantial performance improvements over today’s conventional power semiconductors. Ideal Power believes B-TRAN™ modules will reduce conduction and switching losses, complexity of thermal management and operating cost in medium voltage AC power switching and control circuitry. For more information, visit www.IdealPower.com.

Ideal Power Investor Relations Contact: 

LHA Investor Relations
Carolyn Capaccio, CFA; Keith Fetter
T: 212-838-3777
[email protected]

CHICAGO, Feb. 23, 2021 (GLOBE NEWSWIRE) — Potbelly Corporation (NASDAQ: PBPB), the iconic neighborhood sandwich shop, today announced the date for the release of its fiscal fourth quarter and full year 2020 financial results.

Fourth Quarter and Full Year 2020 Results

Potbelly will report its unaudited financial results for the fiscal fourth quarter and full year 2020 on Thursday, March 11, 2021 after the close of the market that day. The Company has scheduled a conference call and webcast for investors at 5:00 p.m. Eastern Time that day to discuss the unaudited financial results.

Hosting the call will be Potbelly Corporation’s President and Chief Executive Officer, Bob Wright, and Chief Financial Officer, Steve Cirulis.

Alternatively, the conference call will be webcast at www.potbelly.com on the “Investor Relations” webpage. For those unable to participate, an audio replay will be available from 8:00 p.m. Eastern Time on Thursday, March 11, 2021 through midnight March 18, 2021. To access the replay, please call 844-512-2921 (U.S. & Canada) or 412-317-6671 (International) and enter confirmation code 13716835. A web-based archive of the conference call will also be available at the above website.

About Potbelly

Potbelly Corporation is a neighborhood sandwich concept that has been feeding customers’ smiles with warm, toasty sandwiches, signature salads, hand-dipped shakes and other fresh menu items, customized just the way customers want them, for more than 40 years. Potbelly promises Fresh, Fast & Friendly service in an environment that reflects the local neighborhood. Since opening its first shop in Chicago in 1977, Potbelly has expanded to neighborhoods across the country – with more than 400 company-owned shops in the United States. Additionally, Potbelly franchisees operate over 40 shops in the United States. For more information, please visit our website at www.potbelly.com.

Contact:
Investor Relations
Ryan Coleman or Lisa Fortuna
Alpha IR Group
312-445-2870
[email protected]

ATLANTA, Feb. 23, 2021 (GLOBE NEWSWIRE) — Paya Holdings Inc. (NASDAQ: PAYA)(“Paya” or the “Company”), a leading integrated payments and commerce solution provider, today announced that the Company will release its fourth quarter and full year 2020 financial results on Monday, March 8, 2021 before market open. Paya CEO Jeff Hack and CFO Glenn Renzulli will host a conference call to discuss these results at 8:00am EST on Monday, March 8, 2021.

Investors are invited to listen to a live webcast of the conference call through the investor relations section of the Paya website at investors.paya.com. The conference call can also be accessed live by dialing 833-665-0668 and referencing conference ID 6448878. A replay will be available shortly after the live call and available for one week and can be accessed by dialing 855-859-2056 and referencing conference ID 6448878.

About Paya

Paya (NASDAQ: PAYA) is a leading provider of integrated payment and frictionless commerce solutions that help customers accept and make payments, expedite receipt of money, and increase operating efficiencies. The company processes over $30 billion of annual payment volume across credit/debit card, ACH, and check, making it a top 20 provider of payment processing in the US and #6 overall in e-Commerce. Paya serves more than 100,000 customers through over 2,000 key distribution partners focused on targeted, high growth verticals such as healthcare, education, non-profit, government, utilities, and other B2B end markets. The business has built its foundation on offering robust integrations into front-end CRM and back-end accounting systems to enhance customer experience and workflow. Paya is headquartered in Atlanta, GA, with offices in Reston, VA, Fort Walton Beach, FL, Dayton, OH, Mt. Vernon, OH and Dallas, TX. For more information about Paya, visit www.paya.com or follow us on Twitter: PayaHQ and LinkedIn: Paya.

Investor Contact:

Matt Humphries, CFA
Head of Investor Relations
[email protected]

Media Contact:

Kerry Close
212-784-5717
[email protected]

EWING, N.J., Feb. 23, 2021 (GLOBE NEWSWIRE) — Antares Pharma, Inc. (NASDAQ: ATRS) (“the Company”), a pharmaceutical technology company, today announced it will release its fourth quarter and full-year 2020 financial and operating results on Tuesday, March 2, 2021, before the market opens.

Antares will host a conference call on Tuesday, March 2, 2021 at 8:30am ET to discuss the results. The dial-in numbers are (888) 254-3590 for domestic callers and (323) 994-2093 for international callers. The conference ID number is 1389407. A live webcast and replay of the conference call will be available online from the investor relations section of the Antares Pharma corporate website at www.antarespharma.com.

About Antares Pharma

Antares Pharma, Inc. is a pharmaceutical technology company focused primarily on the development and commercialization of self-administered injectable pharmaceutical products using advanced drug delivery auto injector technology. The Company has a portfolio of proprietary and partnered commercial products with several product candidates in various stages of development, as well as significant strategic alliances with industry leading pharmaceutical companies including Teva Pharmaceutical Industries, Ltd. (Teva), AMAG Pharmaceuticals (AMAG), Pfizer Inc. (Pfizer) and Idorsia Pharmaceuticals Ltd. (Idorsia). Antares Pharma’s FDA-approved products include XYOSTED^® (testosterone enanthate) injection, OTREXUP^® (methotrexate) injection for subcutaneous use and Sumatriptan Injection USP, which is distributed by Teva. The Company also markets NOCDURNA^® (desmopressin acetate) in the U.S., which was licensed from Ferring Pharmaceuticals.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to certain risks and uncertainties that can cause actual results to differ materially from those described. Factors that may cause such differences include, but are not limited to: the Company’s ability to achieve the 2020 and 2021 full-year revenue guidance; the uncertainty regarding the duration, scope and severity of the COVID-19 pandemic and the mitigation measures and other restrictions implemented in response to the same and the impact on demand for our products, new patients and prescriptions, future revenue, product supply, and our overall business, operating results and financial condition; successful commercialization of NOCDURNA

^®

in the United States and market acceptance and future revenue from the same
: commercial success of
XYOSTED

^®

and future revenue from the same;
market acceptance of Teva’s generic epinephrine auto-injector product and future revenue from the same;
whether the FDA will withdraw marketing approval for AMAG Pharmaceuticals’ Makena

^®

subcutaneous auto injector following the recent FDA letter seeking withdrawal, whether AMAG will be granted an appeal hearing and if granted, whether Makena

^®

will be successful and
future prescriptions, market acceptance and revenue from the same; Teva’s ability to successfully commercialize VIBEX

^®

Sumatriptan Injection USP and the amount of revenue from the same; future prescriptions and sales of OTREXUP

^®

; Teva’s ability to successfully commercialize generic teriparatide in 11 countries in Europe, Canada and Israel and future revenue from the same, successful development including the timing and results of the clinical bridging and Phase 3 clinical trial of the drug device combination product for Selatogrel with Idorsia Pharmaceuticals and FDA and global regulatory approvals and future revenue from the same; FDA approval of Teva’s pending ANDA for generic Forteo

^®

and future revenue from the same; the timing and results of the Company’s or its partners’ research projects or clinical trials of product candidates in development including Pfizer’s undisclosed development product; actions by the FDA or other regulatory agencies with respect to the Company’s products or product candidates of its partners; continued growth in product, development, licensing and royalty revenue; the Company’s ability to meet loan extension and interest only payment milestones and the ability to repay the debt obligation to Hercules Capital; the Company’s ability to obtain financial and other resources for its research, development, clinical, and commercial activities and other statements regarding matters that are not historical facts, and involve predictions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, achievements or prospects to be materially different from any future results, performance, achievements or prospects expressed in or implied by such forward-looking statements. In some cases you can identify forward-looking statements by terminology such as ”may”, ”will”, ”should”, ”would”, ”expect”, ”intend”, ”plan”, ”anticipate”, ”believe”, ”estimate”, ”predict”, ”potential”, ”seem”, ”seek”, ”future”, ”continue”, or ”appear” or the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Additional information concerning these and other factors that may cause actual results to differ materially from those anticipated in the forward-looking statements is contained in the “Risk Factors” section of the Company’s Annual Report on Form 10-K, and in the Company’s other periodic reports and filings with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by law.

Contact:
Tram Bui
Vice President, Corporate Communications and Investor Relations
609-359-3016
[email protected]

– Assets to be Acquired for $12,500,000

– Major Financing Announcement Forthcoming from NSI

Dallas, TX, Feb. 23, 2021 (GLOBE NEWSWIRE) —  via NewMediaWire — NaturalShrimp, Inc., an aquaculture Company, which has developed and patented the first commercially operational Recirculating Aquaculture System (RAS) for shrimp, announced today that it has signed a Letter of Intent (LOI) to acquire the aquaculture assets of Hydrenesis Aquaculture, LLC for $12,500,000, consisting of $5,500,000 in cash and the balance due in NSI common stock. The acquisition is expected to be accretive to earnings in fiscal year 2021.

Gerald Easterling, CEO of NaturalShrimp added, “NaturalShrimp has been working with Hydrenesis since 2018 on several solutions for the industry with the team at Hydrenesis. We currently have trials on going in Norway and Australia. The Company intends to immediately begin 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 salmon, barramundi, and tilapia farming segments. We expect to file additional patents around the expansion of the application and use of the combined EC and Hydrenesis technology.”

David Antelo, CEO of Hydrenesis, Inc., said, “We are excited for the next evolution of our relationship with NaturalShrimp. We have been exploring the application of ‘Redox’ water treatment for several years. Our technologies’ ability to affect water chemistry and elevate water quality is proving to have a significant impact on growth and health metrics. Natural Shrimp’s bold vision and rapid growth trajectory make them the ideal partner for extending commercialization of Hydrenesis technologies to additional species applications.”

ABOUT NATURAL SHRIMP: NaturalShrimp, Inc. is a publicly traded aqua-tech Company, headquartered in Dallas, with production facilities located near San Antonio, Texas. The Company has developed the first commercially viable system for growing shrimp in enclosed, salt-water systems, using patented technology to produce fresh, never frozen, naturally grown shrimp, without the use of antibiotics or toxic chemicals. NaturalShrimp systems can be located anywhere in the world to produce gourmet-grade Pacific white shrimp.

About Hydrenesis: Hydrenesis, Inc. and Hydrenesis Aquaculture, LLC, headquartered in Pompano Beach, FL, are private technology owners and technology commercialization companies that partner with leading IP holders and industry insiders to commercialize innovative technologies in major industry sectors. 

Forward Looking Statements

This press release contains “forward-looking statements.” The statements contained in this press release that are not purely historical are forward-looking statements. Forward-looking statements give the Company’s current expectations or forecasts of future events. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company’s control, and could cause the Company’s results to differ materially from those described. In some cases forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions. These statements include statements regarding moving forward with executing the Company’s global growth strategy. The statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict. The Company is providing this information as of the date of this press release and does not undertake any obligation to update any forward looking statements contained in this press release as a result of new information, future events or otherwise, except as required by law. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Important factors that could cause such differences include, but are not limited to the Risk Factors and other information set forth in the Company’s Annual Report on Form 10-Q filed on February 16, 2021, and in our other filings with the U.S. Securities and Exchange Commission.

Contact:

Richard Brown
508-462-9638

SOURCE: Natural Shrimp