Naturally Splendid Enterprises Ltd. (“Naturally Splendid” or “NSE”)(TSX-V:NSP) (OTCQB:NSPDF) (Frankfurt:50N)is pleased to announce that it has sold its 51% majority interest in the POS BPC Manufacturing Corp.
Naturally Splendid (TSXV:NSP) (OTCQB:NSPDF) (Frankfurt:50N)is pleased to announce that it has sold its 51% majority interest in the POS BPC Manufacturing Corp. (“BPC”) located in Saskatoon, Saskatchewan, for $3,536,650 CDN. Naturally Splendid purchased its 51% interest in BPC for $1,971,000 in cash and shares on June 15th, 2015. The Company has made a gain of $1,565,650 CDN off the transaction.
Naturally Splendid CEO Mr. Douglas Mason states, “I am very pleased with the decision to sell our position in the BPC facility. This immediately adds non-dilutive cash to our operations and allows us to explore and execute on other opportunities the Company has been researching.
As reported earlier, Naturally Splendid has begun preparing asubmission to become a Licensed Dealer of cannabis extracts under the Canadian regulatory regime. This will permit the Company to pursue a number of activities related to cannabis and the extraction, formulation and distribution of cannabinoids such as cannabidiol (“CBD”).
Our goal is to have ownership of our own facility that will focus on the latest extraction and formulation methods by forming strategic alliances and partnerships with companies specializing in extraction technologies. Given the latest advances that have been made over the past years in extraction and formulation methods, the BPC facility did not fit within the strategic plans of the Company.”
Naturally Splendid Director and Chief Operating Officer Mr. Bryan Carson states, “In addition to establishing a cannabinoid extraction strategy, we have identified third party manufacturers with state of the art facilities to produce our Hemp emulsion, HempOmega(TM), and Hemp Protein Isolate. Securing third party manufacturers eliminates the need to invest in upgrades at BPC and allows those funds to be directed towards expanding our production capability at our Pitt Meadows operations”.
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 non-psychoactive cannabinoid compounds in a broad spectrum of applications.
Naturally Splendid currently has four innovative divisions:
- (1)BIOTECHNOLOGY – Focused on three major platforms:
- (1)Proprietary HempOmega(TM) encapsulation
- (2)Extraction and formulation with Cannabidiol (CBD)
- (3)Hemp and plant-based proteins.
(2) CONSUMER PRODUCTS –
- – NATERA(R) – brand of retail hemp and superfood products distributed throughout North America, Asia and Europe.
- – Prosnack Natural Foods Inc. (Elevate Me(TM)) – 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(R) – topical pet care products.
- – NATERA(R)CBD – retail hemp-based cannabinoid nutraceutical and cosmeceutical products distributed in Asia.
- – NATERA(R)Skincare – brand of retail hemp based cosmeceutical products.
(3) NATERA(R) Ingredients – bulk ingredients including HempOmega(TM).
(4) Co-Packaging/Toll-Processing – packaging for house-brands (NATERA(R) and CHII) and third-party partners.
For more information firstname.lastname@example.org 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.