Nocera, Inc. Reaches Agreement to Purchase 229 Acres of Farmland for US Land-Based Fish Farms in Montgomery, Alabama
TAIPEI, TAIWAN- Nocera, Inc. (NASDAQ: NCRA) (“Nocera” or the “Company”), a fully integrated sustainable seafood company focused on the manufacture and operation of land-based recirculating aquaculture systems (RAS ), announced today that it has entered into a purchase agreement to acquire 229 acres of farmland for US Land Fish Farms in Montgomery, Alabama.
The purchase agreement was signed on September 8, 2022 and the acquisition is expected to be finalized by October 31, 2022. The purchase price for the parcel is $865,000. The Company is in the process of obtaining up to 85% financing from local banking institutions.
The 229 acres of land are within the city limits of Montgomery, Alabama. It includes a house, a prefabricated house and a construction site with sewers and electricity that the company will transform into an office and dormitory for Nocera employees.
Jeff Cheng, CEO of Nocera, said, “This land acquisition in Alabama would be our first entry into the US fish farming business. We anticipate that our technology and design of recirculating aquaculture systems will provide us with a substantial advantage. Being strategically located in the city of Montgomery, we will have access to a large and skilled workforce as well as a robust student population in the Montgomery area. With the price of fish reaching an all-time high, this land purchase will give us a huge opportunity to become more and more profitable. Our investment in Alabama is sustainable and green, and we will provide increased sustainable aquaculture in the United States and provide the best seafood choice for the American family.”
Closing of the Purchase Agreement is conditional upon the Company fulfilling the terms of the Purchase Agreement, including, but not limited to, obtaining the necessary financing.
About Nocera, Inc.
Nocera (NASDAQ:NCRA) is a fully integrated sustainable seafood company that provides land-based recirculating aquaculture systems (RAS) for freshwater and saltwater fish and invests in fish farms by building high-tech RAS. The Company’s main business activity is the design, development and production of large-scale RAS aquarium systems (aquaculture) for fish farms, as well as expert consulting, technology transfer and Aquaculture project management for new and existing aquaculture facilities and operators. . For more information, please visit the company’s website at www.nocera.company.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements that are inherently subject to risks and uncertainties. All statements contained herein that are not historical facts are forward-looking statements as defined in the United States Private Securities Litigation Reform Act of 1995. Words such as “anticipate”, “believe”, “estimate”, ” expect”, “plan”, “intend”, “may”, “plan”, “project”, “predict”, “should”, “will” and similar Nocera-related expressions are intended to identify these forward-looking statements. There can be no assurance that the Company will obtain the necessary financing to purchase the land or that the Closing will occur. These risks and uncertainties include, but are not limited to, general economic and business conditions, the effects of continued geopolitical unrest and regional conflicts, competition, changes in marketing methods, delays in manufacturing or distribution, changes in customer ordering habits, changes in customer mix and various other factors beyond the Company’s control. Actual events or results may differ materially from those described in this press release due to any of these factors. Nocera undertakes no obligation to update or change its forward-looking statements, whether as a result of new information, future events or otherwise.