Naturally Splendid Enterprises Ltd(TSXV:NSP) is pleased to announce that its recently acquired packaging system has been successfully installed and has commenced operations. Naturally Splendid is now fulfilling the Eat Real Snack Food Canada Ltd. (ERSF) co-packing contract.
Work has been ongoing since the start of the year to finalise preparation of the 3,000 sq.ft. packaging facility at the Company’s Pitt Meadows headquarters. Installation of the machinery acquired from Eat Real Snack Foods, described in the agreement announced on 25th January 2017, started during February and was finished earlier this month. The first order of dried fruit products to be packaged into stand-up zipper bags is under way and is near completion at the time of writing of this update.
Naturally Splendid CEO Dave Eto states, “Interest from other co-packing clients continues to grow and now we are introducing them to our facility. Sample runs of product and co-packing agreements are being discussed. This is also an opportunity to introduce our co-packing partners to other parts of our business, like HempOmega™ and food ingredients. Co-packaging facilities like ours are rare in western Canada. We have tailored our co-packing services to be beneficial to companies ready to transition from hand-fill operations to a more automated process. These businesses may not currently have the volumes or capital to develop their own packaging operations, and are looking to grow. By offering our services at this level, we provide processing capability to local processors ready for the next stage of their business.”
Naturally Splendid has also received $445,425 in cash and $120,000 in accounts payable settlement from the exercise of warrants previously granted. The warrants were exercised at prices of $0.30, $0.35 and $0.40 for a total of 1,464,500 common shares being issued. Following the issuance of these shares, Naturally Splendid will have 76,010,649 common shares outstanding.
About Naturally Splendid Enterprises Ltd.
Naturally Splendid is a multifaceted biotechnology company that is developing, producing, commercializing, and licensing an entirely new generation of plant-derived, bioactive ingredients, nutrient dense foods, and related products. Naturally Splendid is building an expanding portfolio of patents (issued and pending) and proprietary intellectual property focused on the commercial uses of industrial hemp and non-psychoactive cannabinoid compounds in a broad spectrum of applications.
Naturally Splendid currently has six innovative divisions: (1) Natera® brand of retail hemp superfood products currently distributed throughout North America and Asia; (2) Chi Hemp Industries Incorporated (Chii) is selling natural and organic hemp products through e-commerce (3) PawsitiveFX® brand of pet care products; (4) Simpli Plant-Based Ingredients Division of plant-derived bulk ingredients including patent-pending HempOmega®; (5) The 12,000-square-foot POS / BPC Facility - which is managed for Naturally Splendid by POS Bio-Sciences - is positioned to offer commercial-scale custom processing solutions for biological materials, such as functional foods and natural health ingredients to a wide range of clients (6) hemp-based cannabinoid nutraceuticals. Naturally Splendid's advanced technologies, industry expertise, and strategic partners allow for the creation of customized solutions with a consistent focus on quality and sustainability.
For more information e-mail firstname.lastname@example.org or call Investor Relations at 604-673-9573.
On Behalf of the Board of Directors
CEO and Director
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Naturally Splendid cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Naturally Splendid's control including, Naturally Splendid's ability to compete with large food and beverage companies; sales of any potential products developed will be profitable; sales of shelled hemp seed will continue at existing rates or increase; the ability to complete the sales of all bulk hemp seed purchase orders; and the risk that any of the potential applications may not receive all required regulatory or legal approval. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Naturally Splendid undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Naturally Splendid Enterprises Ltd.
(NSP – TSX Venture; NSPDF – OTCQB; 50N Frankfurt)
#108-19100 Airport Way, Pitt Meadows, BC V3Y 0E2
Office: (604) 465-0548
Fax: (604) 465-1128
Source: GlobeNewswire (March 14, 2017 - 6:30 AM EDT)
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