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Naturally Splendid (TSXV:NSP) announced today the TSX Venture Exchange has accepted for filing the restated and amended licence agreement dated Aug. 28, 2015, between Naturally Splendid Enterprises Ltd., Naturally Splendid USA Ltd., a wholly owned subsidiary of the company, and Full Spectrum.
Naturally Splendid (TSXV:NSP) announced today the TSX Venture Exchange has accepted for filing the restated and amended licence agreement dated Aug. 28, 2015, between Naturally Splendid Enterprises Ltd., Naturally Splendid USA Ltd., a wholly owned subsidiary of the company, and Full Spectrum.
As quoted in the press release:
Under terms of the restated and amended licence agreement, the company has acquired ownership of all the omega technologies from Full Spectrum Laboratories (FSL), including HempOmega and H2Omega, and removed the minimum annual royalty payments payable to FSL of $1.6-million commencing in November, 2017.
In consideration of owning a 100-per-cent interest in the omega technologies, including HempOmega and H2Omega, and the removal of the minimum royalty, Naturally Splendid will extinguish its non-exclusive licence of FSL’s bioreactor technology and change its exclusive licence on certain analytical testing standard operating procedures (SOPs) to a non-exclusive licence.
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