Naturally Splendid Enterprises Ltd. (TSXV:NSP, OTC:NSPDF, FRANKFURT:50N) is pleased to provide the following updates and outlook for 2020.
Naturally Splendid drives the majority of revenue from the Prosnack Division, manufacturing nutritional bars & bites from mainly plant-based ingredients at our Safe Quality Food Level 2 manufacturing facility (SQF2). Purchase orders in January have already exceeded $300,000 CDN to date. The Company’s focus will be on expanding business and growing revenue in the plant-based nutritional category while the cannabis edibles markets continues the path to more mainstream opportunities.
Naturally Splendid CEO Mr. J. Craig Goodwin states, “The Company continues to focus on increasing our nutritional, plant-based bars and bites business by expanding production capacity and efficiencies at our SQF2 food manufacturing facility. This past December, the investment firm UBS, reported the plant-based nutrition market to be $4B USD in 2018, growing to $88B USD by 2030. With consistent messaging from the market supporting this significant forecast in sales growth, we have positioned the Company to become a leading developer and manufacturer of nutritional plant-based bars and bites through our Prosnack Division. This strategic approach is building shareholder value as confirmed by a recent valuation that pegged the value of Prosnack of $11.1M CDN.”
We remain confident the edibles market will continue to evolve into a lucrative opportunity. However, that market continues to be challenged by restrictive marketing and distribution regulations.
In comparison, the plant-based nutrition market shows current, mid-term and long-term growth.
It is important to understand that we are not abandoning the edibles market and in fact our strategy to develop our plant-based business has a synergistic relationship with CBD edibles. Our expertise as food manufacturers utilizing plant-based ingredients will be a driver for securing business in the evolving edibles market.
Company Brands and Contract Manufacturing
The Company had several significant successes in 2019 from our Prosnack Division in our SQF2 food manufacturing facility, launching both Company Branded products, as well as with our Contract Manufacturing Clients.
The Company has several Company Brands that have been launched into a variety of markets through a network of national food brokers and distributors across Canada. The Company has several product launches planned for 2020 starting in the first quarter, at the Canadian Health Food Association Expo West tradeshow.
Natera Sport KEY-TO-LIFE Keto Friendly Bars
Under our 100% owned Natera Sport(TM) Brand, the Company launched Natera Sport(TM) KEY-TO-LIFE keto friendly bars, sold in over 2,000 retail stores in Canada in 2019.
Natera Sport(TM) Bites
The Company has formalized listings with national distributors for the beginning of the 2020 golf season leveraging the exposure gained from the PGA of BC Sponsorship Program of 2019.The popularity of the Natera Sport Bites are gaining traction appearing in Golf Magazine twice in the last six months of 2019. Golf Magazine has a viewership of over 15,000,000 per month.
Natera Sport(TM) Bites will be featured within the Genesis Invitational PGA Tournament hosted by PGA golfer Tiger Woods February 10 – 16, 2020. The Genesis Invitational will be part of a strategy launching this line into the lucrative US golf market.
Elevate Me(TM) – Sports Nutrition and healthy snack bars
With over ten years of presence on retail shelves, The Elevate Me(TM) brand continues to have a loyal client following and will benefit from updated branding and a relaunch strategy anticipated for Q1.
Woods Wild Bar – Mushroom fortified active lifestyle bars
After several strategic test launches in 2019, the Company will be launching the Woods Wild Bar at the Canadian Health Food Association Expo West in February and anticipate a similar positive response from retailers that listed the Natera Sport(TM) KEY-TO-LIFE keto friendly bar, resulting in thousands of retailer shelves across Canada.
The Company manufactures for multiple leading brands and food service companies. As part of the manufacturing agreements, the Company is guided by NDAs to protect both the client as well as the Company.
Profit 100 Plant-Based Nutritional Company
The Company announced a manufacturing agreement with a Profit 100, plant-based nutritional company, forecasting $1,000,000 CDN in gross sales annually.
National Launch for Private Label Client
The Company announced a contract manufacturing client who will be launching in over 600 convenience store locations across Canada.
The Company entered into an agreement with an international restaurant franchisor with over 400 locations, in connection with the production of certain ‘better for you’ products sold through its in-store and CPG channels. Prosnack produced over $1,000,000 CDN in product for this client in 2019.
Naturally Splendid Vice President Mr. Bryan Carson states, “Naturally we are very proud to have the roster of clients that we have, as well as engaging with new clients and there would be benefit to announcing details of these manufacturing agreements. However, many of these clients do not want to share their manufacturer information to protect themselves for competitive reasons. For that matter, there are times when we do not want to share the name of the companies, we manufacture for in order not to tip our hand to our competition. We look forward to building on the successes we had in 2019.”
About Naturally Splendid Enterprises Ltd.
NSE has established numerous healthy, functional foods under recognized brands such as Natera Sport(TM), Natera Hemp Foods, CHII (TM), Elevate Me(TM) and Woods Wild Bar. The Company has a myriad of new products and line extensions under development that are approaching launch. NSE has also developed proprietary technologies for the extraction of high demand, healthy omega 3 and 6 oils from hemp. (NSE sales revenues for the first half 2019 exceeded FY2018).NSE is the current “go-to” manufacturer for healthy, functional food products and ingredients focusing on plant-based ingredients. The Company provides contract manufacturing services for many global healthy food companies, private labelling a wide variety of nutritional food products destined for global healthy food markets. NSE plans to utilize current and new technologies to meet the expected exponential demand developing in the cannabis market. Pending appropriate NSE licensing and regulations in permitting jurisdictions, NSE’s current production facilities will be one of very few facilities that is capable of meeting the demand for infused edibles and oils for both in-house and contract manufacturers’ brands.
For more information e-mail email@example.com or call Investor Relations at 604-673-9573
On Behalf of the Board of Directors
Mr. J. Craig Goodwin
CEO, President, Director
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; customers will complete on sales contracts; 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.