DALLAS, TX / ACCESSWIRE / September 26, 2022 / Gold River Productions, Inc. (OTC PINK:GRPS) (“GRPS”) (http://www.transamaqua.com) (D/B/A Trans American Aquaculture) announced today that Gold River Productions, Inc. ( a Colorado Corporation) has acquired all [equity/membership interest] of Trans American Aquaculture (TAA) (a Texas limited liability company) by a [equity/stock for membership interest] Swap in which 100% of the equity of Trans American Aquaculture, LLC was exchanged for common stock of the public corporation. The exchange was approved by 100% of the LLC’s members. The exchange was also approved by the public company’s former controlling shareholder. The former members of Trans American Aquaculture who are now preferred stockholders of Gold River Productions, Inc., including the executive members, currently have no near-term plans to convert preferred stock into common stock.
The company’s main business in the future will be aquaculture production and aquaculture genetics. The former business is divested and the corporation receives compensation in the form of equity in the divested operations or a royalty on future sales. The terms of the sale are still being negotiated.
Based in Rio Hondo, Texas and covering 1880 acres of land and water, The Company operates the largest land-based aquaculture technology company in the United States by number of acres of land and water under control. Bowers Shrimp is the largest known land-based producer of shrimp for human consumption by total sales in the United States. Trans American Aquaculture was founded in 2017 by the Granda family from Ecuador and their business partners. The Granda family is an outstanding aquaculture family with decades of experience in shrimp production and shrimp genetics in Ecuador. To date, over $9 million has been committed to the Rio Hondo facility by the Granda family and their business partners to build operations.
Trans American Aquaculture has produced nearly 1 million pounds of Pacific White Shrimp in Texas since its inception and is also successful in selling hatchery stock (mating shrimp) and post-larval shrimp (these are baby shrimp used to stock RAS-based production facilities and land-based shrimp farms). Recently, Adam Thomas, the CEO of Trans American Aquaculture, traveled to Algeria to sign a historic contract to supply both postlarvae and broodstock as the sole supplier of shrimp genetics for the first large-scale shrimp aquaculture facility in Algeria, managed by the was published US Embassy in Algeria. It is a government-funded program in which the Algerian government is committing more than $30 million to set up a shrimp farming facility that ultimately aims to produce up to 1,000 tons of shrimp per year. Contracts have been signed to provide PLs and Broodstock which will generate a significant amount of revenue which they believe will be continuous.
A link to the photos of the historic dedication ceremony can be found on the US Embassy website or by clicking here. (https://www.facebook.com/photo/?fbid=421622980008867&set=pcb.421623103342188)
Unlike many other aquaculture technology companies that specialize in shrimp production (both public and private), Trans American Aquaculture fully controls their own genetics, which significantly reduces the risk of disease and viruses in their facilities because of the genetic loop is fully controlled (broodstock to PLs on shrimp for human consumption). By controlling genetics, an aquaculture technology company like Trans American Aquaculture can also accelerate the growth rate and increase disease resistance, helping to significantly reduce shrimp mortality rates, potentially increasing the profitability of the system. The Rio Hondo-based facility produces hatchery and post-larval shrimp for its own shrimp production and for sale to other aquaculture companies, including companies with (RAS) recirculating aquaculture systems. The company also produces shrimp for human consumption. By controlling its own “proprietary” genetic lines, the company is able to produce lines with superior and sustained growth rates that are cold water tolerant (most RAS companies target a water temperature of 82-84 degrees) and disease resistant. All of the company’s human consumption shrimp, broodstock (mating shrimp) and PLs are produced in the USA without the use of antibiotics or hormones.
Adam Thomas, Chairman and Chief Executive Officer of Trans American Aquaculture, commented, “It is my genuine pleasure to bring the Granda family’s decades of experience in the aquaculture industry and their world-class science to a small public company. We are not a “public company”. Operator. We are business people and some of the former members of the private company who are now shareholders in the public company are world-class leaders in the segments of the aquaculture industry in which they serve.”
Mr Thomas continued, “We apply science and genetics to the aquaculture industry and our products are manufactured in the United States without the use of hormones or antibiotics. HEB and Safeway are happy to accept our product as superior to any product imported from countries such as India, Vietnam and China. We’re also getting significant international interest because our genetics are sourced from the US, which is very desirable for responsible aquaculture farms around the world.”
Mr. Thomas concluded, “We are extremely confident that by 2023 we will be the #2 land-based shrimp producer in the United States among all private and public companies and our genetics business will continue to grow.”
The exchange agreements between the two companies contain customary representations, warranties and representations made by the Company and Trans American on specific dates to each other. The representations contained in these representations and warranties are made solely for the purposes of the exchange agreement. The company is in the process of reconfiguring the board. The current plan calls for three former members of Trans American Aquaculture (who are now shareholders in the public entity), consisting of 3 directors and 3 independent directors. As soon as possible, the company will hire an auditor to list on a Senior Exchange.
Granvil Treece, President of Treece & Associates and current board member of the Texas Aquaculture Association, commented, “The Trans American Aquaculture team has shrimp farming expertise and is environmentally responsible in having a zero discharge facility and hatchery. There is a good workforce to call on and there are shrimp processing plants in the area. The company started on the 1,880-acre site in 2017 and completed its new hatchery in 2019. As their advisor, I assisted Trans American Aquaculture, LLC in obtaining the ever important and coveted Best Aquaculture Practices (BAP Certification) for their hatchery so they can sell all stages of shrimp internationally. During their 5 years at the site, Trans American Aquaculture , LLC is developing a cold tolerant line of Pacific White Shrimp (Vannamei), which is highly desirable for both marine based systems and RAS based systems operating in colder climates.
As previously announced, the Company will host a conference call on September 26, 2022 (today) at 5 p.m. EST. The conference call is set to discuss in detail the company’s comprehensive business plan for the next 18 months.
As the company expects certain industry leaders from multiple countries and continents to be on call from as far afield as China, the call begins promptly at 5:00 p.m. EST.
The call can be accessed live by dialing (267) 807-9601. When prompted for an access code, the code should be entered as 808621#.
All expected conference call participants are encouraged to ask questions. Any listener who has a question should email all questions to as soon as possible [email protected]. The Company will attempt to answer as many questions as possible during the Q&A portion of the call.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in the forward-looking statements due to a number of factors. These factors include, among other things, the inherent uncertainties associated with new projects and companies in the development phase. These forward-looking statements are made as of the date of this press release, and we undertake no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. While we believe that all beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be correct.
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SOURCE: Gold River Production Services, Inc.
