Sustainable Aquaculture Project

A Better Way to Produce Seafood

Traditionally shrimp farming was historically conducted onshore in large open ponds and near-shore in large open net pens. While this may seem convenient, this use of resources competes with tourism, fishing, shipping, and other critical industries. Further, in those large open pens and ponds, shrimp farming can impact the environment and produce a low quality, poor tasting product. Fortunately, there is a better method to grow shrimp: inland, using Recirculating Aquaculture Systems, also known as RAS or Zero Water Systems. Grenada Sustainable Aquaculture will grow Pathogen Free Post Larva Shrimp from sustainable sources, US Government Certified Suppliers in the United States, to avoid depleting natural stocks, and then grow the post larva in the GSA Hatchery to sufficient size before transferring them to the GSA Grow Tanks in large GSA Barns located one kilometer inland. The closed environment combined with Integrated Multi-Trophic Aquaculture (IMTA) and good husbandry practices produces a premium quality product while avoiding the resource conflicts and any measurable environmental impacts. IMTA systems combine an aquaculture species that requires external feeding (e.g. Pacific White Shrimp) with species capable of deriving nutrients from the wastes of the ‘fed’ species, such as oysters, sea cucumbers or sea asparagus. By recycling nutrients that would otherwise be wasted, IMTA systems offer the potential of increased economic gains. Interestingly, the RAS system produces shrimp with exquisite flavor using no antibiotics or chemicals; all the shrimp is natural. Grenada is blessed with outstanding water quality and can sustainably produce a valuable product with GSA.

Economic Opportunity

Tourism has been the driving economic force in Grenada and real-estate has been a popular investment choice. With the improvement in US-Cuba relations, however, both of these industries will see more competition. Much like the spice export trade, the premium shrimp market can be an economic diversifier and growth market for Grenada. Grenada has sound infrastructure and transportation to support international deliveries for export sales. Airplanes arrive with their holds full of supplies for the island and currently leave with their holds almost empty. GSA will fill those holds with all natural Premium Jumbo, Extra Jumbo and Colossal Shrimp at extremely favorable rates.

Social and Economic Value

Environmentally-Conscious Aquaculture GRENADA SUSTAINABLE AQUACULTURE

Our approach to aquaculture has no measurable negative effects on the environment. Generally a statement such as this could face intense environmental scrutiny, so we will approach our operations with transparency and rigor foremost in mind. Our solution includes environmental sensors to measure water conditions and collect actual data that can quantifiably show any change. We intend to publish this information online, because we want everyone to be able to see empirically that our commitment goes beyond talk, to results and open transparency. We intend to meet the requirements of the Aquaculture Stewardship Council certification standards shortly after beginning operations. Integrated Multi-Trophic Aquaculture (IMTA) systems also lead to "greener" aquaculture practices through the reduction in waste products in the marine environment – as well as a decreased risk of algal blooms and cloudy water. GSA is truly committed to being environmentally responsible.

Economic Growth & Diversification

Tourism has been the driving economic force in Grenada and real-estate has been a popular investment choice. With the improvement in US-Cuba relations, however, both of these industries will see more competition. Much like the spice export trade, premium aquaculture can be an economic diversifier and growth market for Grenada. Grenada has sound infrastructure and transportation to support international deliveries for export sales. For a GDP of $1.5 Billion, a farm with $150 Million of annual revenues represents over 9% direct growth even before including the economic growthmultipliers described below.

Quality Jobs for the Grenadian People

The GSA farm will employ around 100 direct workers. Roughly another 3 “affiliated” jobs in processing, packing, value added preparation, logistics and other supporting industries will be created for every direct farm job. Whereas traditional farms focus mostly on manual labor, our advanced approach includes a much higher percentage of highly compensated roles in biology, technology, and operations. Beyond simply creating jobs, GSA can help raise the average salary in Grenada.

Skills Development

In order to maximize local employment, GSA will leverage the various educational and training programs offered by world renown institutions such as Harvard University and the University of Miami’s Rosenstiel School of Marine and Atmospheric Science as well as Texas A & M’s Aquaculture Research and Teaching Facility. These institutions provide comprehensive, hands-on curriculums that can equip the workforce of Grenada not just for aquaculture jobs, but even aquaculture leadership positions.

Fishing Synergies

GSA will be growing Pacific White Shrimp, Litopenaeus vannamei, so as to have a product that is not competing with the local fishing industry. This is an entirely new industry for Grenada. The primary market sales will be to the Eastern United States through seafood distributors. GSA’s inland farm is one kilometer inland from the sea, to de-conflict with high value fishing areas. Not only is GSA not a detriment to the fishing industry, but it is a benefit in a number of respects. A new volume of shrimp being processed will add to the current fish processing and will create more competitive local processing and other supporting infrastructure. With positive environmental considerations, it is possible to produce additional species in the GSA farm such as oysters, sea cucumbers and sea asparagus using Integrated Multi-Trophic Aquaculture methodology. Sea cucumbers and sea asparagus are highly sought after in the upscale markets. Finally, GSA’s shrimp farms offer career growth for the youth in fishing communities that are facing depleted ocean stocks for their generation.

Tourism Synergies

Premium, sustainable, all natural shrimp will help build the overall reputation of Grenada and help create more interest for potential visitors. GSA intends to make farm tours available for local tour operators. The high quality, superb tasting shrimp will be made available to local resorts and the cruise ship industry as a way to excite tourists about local eco-friendly products.

Investor Advantages

  • Higher Return than Real-Estate
  • 5 Year Guaranteed Investment Buy Back
  • Investment Buy-Back
  • Eliminates Risk
  • Strong Government Support
  • Not Dependent on Tourism
  • Emerging Market that Helps Build the Grenada Economy
  • Good for the Environment

Environmentally-Conscious Aquaculture

Our approach to aquaculture has no measurable negative effects on the environment. Generally, a statement such as this could face intense environmental scrutiny, so we will approach our operations with transparency and rigor foremost in mind. Our solution includes the Recirculating Aquaculture System with sensors to measure water conditions on many levels and collect actual data that can quantifiably show any change. We intend to publish this information online, because we want everyone to be able to see empirically that our commitment goes beyond talk, to results and open transparency. We intend to meet the requirements of the Aquaculture Stewardship Council certification standards shortly after beginning operations. Integrated Multi-Trophic Aquaculture (IMTA) systems also lead to "greener" aquaculture practices through the reduction in waste products in the marine environment – as well as no risk of algal blooms and cloudy water. GSA is truly committed to being environmentally responsible.

Government and Investment Support

The Grenada government is highly supportive of GSA. This project is poised to be a significant economic driver for Grenada in a new industry. The pro-business government position will allow GSA to move and develop more efficiently and rapidly. GSA will offer Citizenship by Investment (CBI) participants a buy-back option through the sale of Preferred Redeemable Shares. Finally, Aspen Assurance will offer third party assurances to the participants for their investments. This will preserve the integrity of the Grenada CBI while offering interested CBI participants a higher return opportunity than they can achieve today. We are proud to be able to present anoffering that is good for consumers, good for the environment and good for the economy.

Frequently Asked Questions

How risky is the Grenada Sustainable Aquaculture (“GSA”) shrimp farm?

The GSA farm will utilize the structure, management, methodology, training, biology and patented technology supplied by the world leaders in aquaculture and shrimp farming. GSA’s Head Scientist is number one in the world in commercially proven RAS technology.

The feed technology has been validated to produce primary feed ingredients through independent fish feed formulation trials under the direction of the Agricultural Research Service of the U.S. Department of Agriculture (USDA), with funding by National Oceanographic and Atmospheric Administration (NOAA) and by the U.S. Government's Defense Advance Research Project Agency (DARPA), the Office of Naval Research, the State of California, and the USDA. U.S. Government-sponsored and independent commercial studies have been conducted on over 100 different types of feedstock over a six-year period.

The land based hatchery and farm utilizes recirculation in a closed system, of an initial seawater fill, with top-offs of fresh water due to evaporation and spillage. The quality of the water to grow shrimp, is higher than natural seawater. One such land based recirculation aquaculture system was awarded TIME Magazine’s 2nd best invention was only beaten by NASA's new Ares 1 space exploration rocket.

Hurricanes and tsunamis are mitigated by the farm’s inland location and the fact that the structures are built to Florida’s 150 MPH hurricane building code. The effects of a hurricane or tsunami would be minimal.

Shrimp well-being is protected from bacteria, parasites, flukes, pollution and other traditional shrimp farming issues by the fact that the farm is located inland and water quality continually monitored. No antibiotic or chemical additives. Due to the clean waters surrounding Grenada, the initial seawater tank fills are free of detectable levels of mercury and PCB’s. Additionally, the water used for the initial tank fills is examined and purified of any bacteria or other negative aspects prior to being placed in the tanks. The water at the sea inlet which is 30 meters deep is also tested prior to intake.

The entire operation from hatchlings to infrastructure to harvest delivery is further protected by comprehensive insurance coverage.

How does the Recirculating Aquaculture Systems (“RAS”) raised shrimp taste?

The RAS system produces shrimp with exquisite flavor using no antibiotics or chemicals; all the shrimp is natural.

Shrimp grown using the RAS methodology actually taste better than wild caught shrimp. The shrimp are well cared for, temperature and oxygen levels monitored constantly by high-tech analysis systems and fed a special, patented pellet feed designed to promote health, flavor and the feed conversion ratio. Regular feedings and the special formulated pellets as well as the RAS Biofloc environment contribute to the enhanced flavor of the RAS raised shrimp. The Food and Agriculture Organization of the United Nations’ (FAO). “The State of World Fisheries and Aquaculture 2014” recommends the use of compound pellet feed as opposed to solely fish feed in aquaculture.

What is the market for the shrimp farm production?

The initial market is the United States East Coast, followed by Canada. GSA’s total production will be sold there. The bulk of sales will be fresh shrimp, not processed. The question is not whether GSA can sell its product, but rather at what price? Note that the original business plan priced the Jumbo Shrimp at $13 per pound and the current rate for the Jumbo Shrimp of this quality is $16 per pound. Super Colossal Live Shrimp reach extraordinary high prices for a very select market; these are live, not “fresh on ice”. GSA will have a “Limited Edition” of these Super Colossal Live Shrimp, for private buyers, each New Years; and New Year’s, fortunately comes twice each year, 31 December (Gregorian) and the Chinese New Year.

The worldwide demand for shrimp has been increasing dramatically each year while the stocks are being depleted. China is now a net importer of shrimp. The United States is the world’s largest importing country; 90% of the seafood consumed in America is imported. The $20 billion shrimp industry is the most highly-traded seafood product by value globally.

What will be my return?

The return to the Economic Citizenship Investor is via dividends on his/her preferred stock in GSA. When GSA declares dividends to common shareholders, it must pay a minimum of 6% to the preferred shareholders. That 6% is a minimum; higher payments can be declared and preferred shareholders enjoying much higher profits. The common shareholders only make money when the preferred shareholders make money and the preferred shareholders have a minimum guarantee that the common shareholders do not. Note that GSA desires to build more farms, with other species such as Mahi Mahi, Red Porgy and Bluefin Tuna, and needs to have “happy investors” and a sterling reputation in the market to achieve that goal.

If the Economic Citizenship Investor desires to sell his/her shares at the 5th year, the Investor has two options: sell to GSA or to a 3rd party surety company at the original investment price. Otherwise the Investor can hold his shares and sell at some other time in the future at market rates.

The original GSA business plan had very conservative projections. Feed conversion ratios (number of pounds of food to grow one pound of shrimp) are now 30% better. Growth rate of the shrimp are 25% better. Survival rate is now 12.5% better. Price was $13 per pound; it is now more than $16-18 per pound. Note that these improved conditions will serve to increase overall dividend and share values.

Application Cost - Investment and Fees

Fee types One single applicant Main applicant with a Spouse Family of four members Family of over four members
Required Investment Amount from USD 350,000 USD 350,000 USD 350,000 USD 350,000
5 Year Refundable Amount USD 275,000 USD 275,000 USD 275,000 USD 275,000
Government Fees USD 50,000 USD 50,000 USD 50,000 USD 50,000 and
USD 25,000 per each additional dependent beyond the fourth dependent
Application Fees USD 1,500 USD 1,500 per person USD 5,000 per person USD 1,500 per person
Due Diligence Fees USD 5,000 and USD 5,000 per person USD 5,000 per person aged 18 and over,
USD 2,000 for each dependant between16-17.
No due diligence fee for dependants under 16.
USD 5,000 per person aged 18 and over,
USD 2,000 for each dependant between16-17.
No due diligence fee for dependants under 16.
Processing Fees USD 1,500 and USD 1,500 per person USD 5,000 per person aged 18 and over,
USD 2,000 for each dependant between 12-17
No due diligence fee for dependants under 12
USD 5,000 per person aged 18 and over,
USD 2,000 for each dependant between 12-17
No due diligence fee for dependants under 12
July 31, 2016.