Naturally Splendid Enterprises Ltd. is pleased to provide further details regarding its previous news release dated November 13, 2019.
Naturally Splendid Enterprises Ltd. (“Naturally Splendid”, “NSE” or “the Company”) (TSXV:NSP, FRANKFURT:50N, OTC:NSPDF) a healthy food, hemp product developer and large scale producer for in-house brands as well as global contract manufacturer focused on plant-based ingredients, is pleased to provide further details regarding its previous news release dated November 13, 2019. To clarify, the Company has in fact already begun manufacturing plant-based energy bites for an international, plant-based sports nutrition and healthy lifestyle company (the “Client”).
After several months of formulation development and refining manufacturing processes, Naturally Splendid produced the first run of ‘plant-based energy bites’ in July 2019 shortly after receiving Safe Quality Food Level 2 certification.
Purchase orders have accelerated over the last 45 days and to date Naturally Splendid has received purchase orders totaling over $275,000 CDN to manufacture this increasingly popular, plant-based energy bite for the Client at its Safe Quality Food Level 2 Certified facility in Pitt Meadows, BC.
Naturally Splendid anticipates that purchase orders will continue and the product lines will generate sales in excess of $1,000,000. These anticipated sales are based on the fact that: (i) the initial purchase orders of $275,000 CDN are to be filled within a sixty day period, (ii) Naturally Splendid, working with the Client, developed five (5) SKUs of plant based bites over the last six (6) months and ensured manufacturing ramp up can be satisfied by Naturally Splendid as reported in previous news releases, and (iii) although there is no minimum purchase guarantee, the Client has indicated it will continually engage Naturally Splendid as the manufacturer.
Of the five (5) SKUs being manufactured, three (3) of those SKUs are destined for markets in the USA.
Currently, Naturally Splendid and the Client’s relationship will operate on purchase orders whereby the Client will submit orders to Naturally Splendid to manufacture plant-based energy bites. Although Naturally Splendid anticipates the Client will continue ordering such plant-based energy bites from Naturally Splendid, the Client is not subject to any minimum purchase orders.
Naturally Splendid is proud to be working with this world class organization producing healthy, plant-based nutritional products such as energy bites.
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. 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.
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.