Naturally Splendid Announces Over $533,289 in Additional Warrant Exercises

Naturally Splendid (TSXV:NS,FWB:50N,OTCQB:NSPDF) reported that a further 1,885,264 previously issued share purchase warrants were exercised. Gross proceeds of $533,289 were raised from the exercise of the warrants.

As quoted in the press release:

Of the Warrants exercised, 645,799 Warrants were exercised at a price of $0.25 per share and 1,239,465 Warrants were exercised at a price of $0.30 per share. The Warrants were issued in non-brokered private placement financings in November 2013 and April 2014.

The company also recently signed a binding letter of agreement with POS BPC Manufacturing regarding hemp-based research, process and product development:

Under the terms of the Agreement, Naturally Splendid will invest a minimum of CAD $250,000 to retain POS to further develop the plant based omega technologies and products licensed from Full Spectrum Laboratories Limited, specifically targeting the omega oil industry. The technical and product development strategy will be finalized in April 2015 and final details will be provided at that time. All intellectual property and products developed by POS, in the course of providing the Services, will be solely owned by Naturally Splendid.

In addition, POS Vice President of Technology, Dr. Rick Green, has been appointed to the Naturally Splendid Advisory Board to provide technological expertise in the area of product development.

POS Bio-Science CEO Dale Kelly emphasizes, “The fact POS is agreeing to exclusivity is no small decision for a 40 year old R&D organization to offer. In addition, the fact we have agreed to have Dr. Green be a member of the Naturally Splendid Advisory Board is a solid vote of confidence that we have full faith in the new strategic alliance to create mutually profitable business opportunities. We have only ever exercised this same relationship with two other organizations in the history of POS

Click here to read the Naturally Splendid (TSXV:NS,FWB:50N,OTCQB:NSPDF) press release

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