Naturally Splendid Enterprises Ltd. ("Naturally Splendid") (TSX-V:NSP) (OTC PINK:NSPDF) (Frankfurt:50N) is pleased to announce the Company has come to an agreement with Flexitarian Foods Pty. Ltd. (Flexitarian Foods) for the exclusive use of the Plantein trademark in Canada
The Plantein trademark is owned by Flexitarian Foods, a division of Australia's largest plant-based manufacturer. The popular Plantein brand was first launched in Australia and is now being expanded globally, including the European Union (EU), the United Arab Emirates (UAE) and now in Canada.
The term of the Plantein trademark assignment from Flexitarian Foods correlates with the exclusive manufacturing and distribution agreement that the Companies signed previously for an extensive line of plant-based, meat alternative products. The Definitive Manufacturing and Distribution Agreement executed with Flexitarian Foods to become the exclusive Canadian manufacturer and distributor, as formerly announced on August 17, 2021, is for an initial 10-year term with a 10-year renewable term.
Naturally Splendid initially launched this line of plant-based entrees, under the NATERA brand in Canada. Through strategic discussions with Flexitarian Foods, it's been determined that the opportunity to capitalize on the momentum that the Plantein brand has gained in Australia, provides multiple benefits for both companies including increased exposure for the brand.
Flexitarian Foods Managing Director Mr. Evan Tsioukis states, "We have grown the Plantein brand to be one of Australia's most popular plant-based choices. We are excited to continue expanding our business relationship with Naturally Splendid and will be incorporating many of the same strategies in Canada, that have made the Plantein brand a success in Australia."
The current roster of plant-based entrees that Naturally Splendid will offer is being amended in both SKUs as well as branding. Naturally Splendid will initially stock eight (8) SKUs under the Plantein trademark including a Plant-Based; Burger; Crunchy Burger; Crumbed Tenders; Sweet Chili Tenders; Nuggets; Schnitzel (cutlet); Garlic Kiev; and a Phishy Filet.
These existing SKUs, plus additional plant-based entrees, will be manufactured in Naturally Splendid's existing facility in Pitt Meadows, BC once new manufacturing lines are received and facility upgrades are completed.
As announced in previous news releases, the Company has developed a distribution network covering Canada coast to coast. This network of distributors provides access to thousands of clients across most every distribution channel, including chain and independent retail stores, chain restaurants and individual locations, to which the Plantein brand will be introduced to.
Naturally Splendid CEO Mr. J. Craig Goodwin states: "We are pleased to extend our existing business relationship with Flexitarian Foods to market the Plantein brand here in Canada, building on the growing presence of the Plantein trademark. This latest strategic move to market Plantein in Canada, in addition to being the exclusive manufacturer and distributor, is pivotal for the Company. We look forward to delivering these delicious plant-based offerings to a broad range of foodservice and retail clients through our existing distribution network."
About Naturally Splendid Enterprises Ltd.
Naturally Splendid is a plant-based food manufacturing and technology company that produces and distributes nutritious and delicious plant-based commodity products.
Founded in 2010, the Company operates a Safe Quality Food Level 2 certified food manufacturing facility located just outside Vancouver, BC in Canada, focusing on producing an extensive range of plant-based entrees.
Naturally Splendid has an exclusive 10-year manufacturing and distribution agreement for Canada with a division of Australia's largest plant-based food manufacturer, Flexitarian Foods Pty. Ltd.
In addition to producing the Company's own branded products, Naturally Splendid provides contract manufacturing services and private labeling for a variety of nutritional plant-based food products destined for multiple distribution channels.
The Company has established healthy, functional foods under brands such as Natera Sport™, Natera Hemp Foods™, CHII™, Elevate Me™ and Woods Wild Bar™. The Company launched Natera Plant Based Foods, a line of delicious plant-based meat alternatives for the rapidly growing plant-based market segment.
Naturally Splendid maintains a relationship Plasm Pharmaceutical, a company that has been approved for conducting a phase 2 clinical trial approved by Health Canada for the treatment of COVID-19.
NSE has also developed proprietary technologies for the extraction of healthy omega 3 and 6 oils, as well as a protein concentrate from hemp.
For more information e-mail email@example.com or call Investor Relations at 604-570-0902 x 101
On Behalf of the Board of Directors
Mr. J. Craig Goodwin
Naturally Splendid Enterprises Ltd.
(NSP - TSX Venture; NSPDF - OTCQB; 50N Frankfurt)
#108-19100 Airport Way
Pitt Meadows, BC, V3Y 0E2
Office: (604) 570-0902
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; the ability to complete the sales of all bulk hemp seed purchase orders; 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.
SOURCE: Naturally Splendid Enterprises Ltd.
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