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Naturally Splendid (TSXV:NS,FWB:50N,OTCQB:NSPDF) announced a definitive securities purchase agreement with POS Management Corp. for CAD $1,750,000: POS Management will sell 51 Class A shares of POS BPC Manufacturing Corp. to Naturally Splendid, and Naturally Splendid will pay CAD $1,750,000 to POS Management and will issue 367,647 common shares of Naturally Splendid at a deemed price of $0.68 per share to POS Management.
As quoted in the press release:
On closing of the transaction, Naturally Splendid will own a 51% of BPC, which operates the 12,000 square foot BPC Facility containing approximately 60,000L of tankage, a fractional distillation system, evaporation equipment, spray drying equipment, a ring dryer and various other pieces of complementary & auxiliary equipment owned by BPC. It is capable of processing a variety of products including the suite of plant-based omega technologies such as HempOmega® (www.hempomega.com) that Naturally Splendid has licensed from Full Spectrum Laboratories. Additionally, the BPC Facility is designed to produce plant-based extracts, tinctures and dry ingredients for a variety of clients.
POS Bio-Sciences CEO Dale Kelly states, “The BPC Facility was built in the 90’s at a cost of $20,000,000. This facility is of a quality that has the potential to attract world-class clients. It is ISO 9001 certified; has an NHP site license; and is HACCP and cGMP certified; and we are working towards a CFIA site license. Together with Naturally Splendid we will now begin to contact over 600 potential clients to advise them of the services we will offer at the BPC Facility”.
Naturally Splendid CEO, Craig Goodwin, said:
The ability for Naturally Splendid to control its own processing is a significant strategic milestone. Once the transaction has closed, we will have secured processing capacity for our own plant-based bio-active ingredients. Additionally, the BPC Facility has the potential to attract a wide range of clients who require toll processing specific to this type of facility. It is anticipated that many of the clients who utilize the research and development services of the POS group of companies will be potential clients of the services at the BPC Facility.
Click here to read the Naturally Splendid (TSXV:NS,FWB:50N,OTCQB:NSPDF) press release
Click here to see the Naturally Splendid (TSXV:NS,FWB:50N,OTCQB:NSPDF) profile.