Nocera (NASDAQ:NCRA) is a fully integrated sustainable seafood company that provides land-based recirculation aquaculture systems (RAS) for both fresh and saltwater fish and invests in fish farms by building high-tech RASs. The closing of the purchase agreement is contingent on the Company satisfying the terms and conditions of the purchase agreement, including, but not limited, obtaining the necessary financing. Our investment in Alabama is sustainable and green and we will be providing increased sustainable aquaculture in the United States and offering the American Family the best choice in seafood." With the price of fish hitting an all-time high, this land purchase will give us a considerable opportunity to become increasingly profitable.
Being strategically located in the city of Montgomery, we will have access to a significant and skilled labor force along with a robust student population from the Montgomery area. We anticipate that our technology and design in Recirculating Aquaculture Systems will provide us with a substantial advantage. Jeff Cheng, Nocera's CEO, commented, "This land acquisition in Alabama would be our first entry into fish farming business in the United States. It comes with a house, a manufactured home and a building site with sewer and power which the company will develop into an office and dormitory for Nocera's employees. The 229 acres of land is in the city limits of Montgomery, Alabama. The Company in the process of obtaining up to 85% financing from local banking institutions. The purchase price for the parcel is $865,000.
The purchase agreement was executed on September 8, 2022, and the acquisition is anticipated to close by October 31, 2022. (NASDAQ:NCRA) ("Nocera" or the "Company"),a fully integrated sustainable seafood company focusing on manufacturing and operating land-based Recirculatory Aquaculture Systems (RAS), announced today it entered into a purchase agreement to acquire 229 acres of agricultural land for US land based fish farms in Montgomery, Alabama. TAIPEI, TAIWAN / ACCESSWIRE / Septem/ Nocera, Inc. Acquisition Expected to Increase Current Revenues by up to $10 Million With Potentially $7 Million Gross Profit
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