Naturally Splendid (TSXV:NSP) announced that it has received full payment for the initial $100,000 CDN Purchase Order from Laguna Blends.
As announced in an earlier news release, the first purchase order from Laguna Blends is for $100,000 CDN. This purchase order is the first installment of a definitive agreement with Laguna Blends to produce $1,600,000 CDN of Pro369, in the first year of the Agreement, and $4,500,000 CDN of Pro369 in the second year of the Agreement. A second Purchase Order of $250,000 CDN is anticipated in the second quarter of 2016.
Naturally Splendid CEO, Craig Goodwin, stated:
I would like to take this opportunity to clarify our agreement with Laguna Blends. There appears to be some confusion from the investment community as to the exclusive rights that Laguna was granted. Laguna does not have exclusive rights to our HempOmega™ technology. The exclusive rights that Naturally Splendid granted Laguna Blends pertains specifically to the four custom protein blends that Naturally Splendid formulated for Laguna Blends only, under the trade name Pro369. Having said that, we are most excited with the upcoming product launch of Laguna Blends.