Naturally Splendid Enterprises Ltd. (“Naturally Splendid” or “NSE” or “The Company”) (TSXV:NSP) (OTCQB:NSPDF) (Frankfurt:50N) is pleased to announce it has secured the initial Purchase Order for a National Food Retailing / Branding company for a new retail energy bar. This bar has been custom formulated at the Company’s newly renovated bar manufacturing facility located in Pitt Meadows, British Columbia. This initial Purchase Order is in excess of $73,000 and is expected to be the first in a series of purchase orders for this client, as they expand their retail business across Canada and into the USA. The expansion of the Company’s bars-and-bites business model continues its strategy to gain market share in the healthy food sector retail markets and to add significant clients.
Alan Maddox, Naturally Splendid’s Executive Vice-President of Sales, states, “With the expanded R&D and manufacturing capabilities, the Company is well positioned, as an innovator in the bar/snack sector and continues to expand our customer base, with more exciting news to come. The investment in R&D and manufacturing is already paying dividends. In the last 3 months we have secured national accounts that include a 5 year manufacturing contract estimated at $5,000,000 CDN, a $75,000 purchase order from a private label client who is launching in a national convenience store chain that has over 500 locations in Canada, as well as the $100,000 purchase order with a renowned national distributor in Canada for its NATERA® and Elevate Me™ brands and now most recently, another significant client with this most recent purchase order. We are most definitely reaping the rewards of successful execution of our strategic plan, as we gain momentum in the Private Label and Co-Packing, along with national distribution of NATERA®.”
The Elevate Me™ brand and private label clients can be found in over 2,000 retail stores, including major retailers such as Metro, Whole Foods, Save On Foods, Sobeys, Safeway, IGA, Natures Fare, London Drugs, Thrifty’s and Rexall.
Company CEO Mr. Douglas Mason states, “The expansion of the company’s bars-and-bites business model continues our strategy to gain market share in the healthy food sector retail markets and to build a strong revenue base of recurring sales. The Elevate Me™ product line, along with its private label clients, totalled almost $8-million in sales over the past four years, and will continue to be a key focus as the company rolls out expansion plans and assigns additional resources to assist in further growth.”
It is believed that upcoming changes to marijuana and hemp regulations under Bill C-45 will only increase opportunities for The Bar Makers (as cannabinoid-fortified products are allowed over time).
Rapidly growing snack market
The global snack bar market is expected to grow significantly over the coming years (according to MarketResearch), driven by both the demand of millennials and baby boomers for healthy daily snacks to support nutrition and wellness. In addition, there is rising demand for vegan snack bars from consumers who lead a vegan lifestyle that opt for healthy substitutes for meat, dairy and other conventional protein sources.
The United States snack bar market is estimated to be valued at $6.8-billion (U.S.) by 2023, registering a CAGR (calculated annual growth rate) of 7 per cent. Energy and nutrition bars occupy almost one-third of the snack bar market in the U.S. and are consumed widely across the country. The volumetric sales of snack bars are expected to register a CAGR of 2.1 per cent during the forecast period (published by Mordor Intelligence in December 2017).
About Naturally Splendid Enterprises Ltd.
Naturally Splendid is a biotechnology and consumer products 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 marijuana cannabinoid compounds in a broad spectrum of applications.
Naturally Splendid currently has four innovative divisions:
|(1)||BIOTECHNOLOGY – Focused on three major platforms:|
|•||Proprietary HempOmega™ encapsulation|
|•||Extraction and formulation with Cannabidiol (CBD)|
|•||Hemp and plant-based proteins|
|NATERA® – brand of retail hemp and superfood products distributed throughout North America, Asia and Europe.|
|The Bar Makers (Prosnack Natural Foods Inc.) makers of (Elevate Me™) – lifestyle brand of healthy meal replacement products distributed throughout North America.|
|Chi Hemp Industries Incorporated (CHII) – e-commerce platform for natural and organic hemp products.|
|PawsitiveFX® – topical pet care products.|
|NATERA®CBD – retail hemp-based cannabinoid nutraceutical and cosmeceutical products distributed in Asia.|
|NATERA®Skincare – brand of retail hemp based cosmeceutical products.|
|(3)||NATERA® Ingredients – bulk ingredients including HempOmega™|
|Naturally Splendid Hemp Processing is a science-based, industrial hemp seed processing business located in Abbotsford, BC. Listed as the only strictly organic hemp seed processor in North America|
|(4)||Co-Packaging/Toll-Processing – packaging for house-brands (NATERA® and CHII) and third-party partners.|
For more information e-mail email@example.com or call Investor Relations at 604-673-9573
On Behalf of the Board of Directors
Mr. Douglas Mason
|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|
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.