Nocera, Inc. Enters Agreement To Purchase 229 Acres Of Agricultural Land for US Land Based Fish Farms In Montgomery, Alabama – QNT Press Release

Acquisition Expected to Increase Current Revenues by up to $10 Million With Potentially $7 Million Gross Profit

TAIPEI, TAIWAN / ACCESSWIRE / September 12, 2022 /Nocera, Inc. (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.

The purchase agreement was executed on September 8, 2022, and the acquisition is anticipated to close by October 31, 2022. The purchase price for the parcel is $865,000. The Company in the process of obtaining up to 85% financing from local institutions banking.

The 229 acres of land is in the city limits of Montgomery, Alabama. 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.

Jeff Cheng, Nocera’s CEO, commented, "This land acquisition in Alabama would be our first entry into…