Naturally Splendid Purchases Packaging Line and Announces Shares for Debt Transaction

Naturally Splendid Enterprises Ltd. ("Naturally Splendid" or "NSE" or the "Company") (FRANKFURT:50N) (TSX-V:NSP) (OTC PINK:NSPDF) is pleased to announce the purchase of a state of the art, automated packaging system capable of packaging a wide variety of food products in multiple formats

The packaging line has been ordered and will be installed in the Company's 20,000 square foot, Safe Quality Food (SQF) certified food manufacturing facility in Pitt Meadows, BC. The system is expected to be fully operational within 6-8 weeks.

This packaging system was selected for the array of products and packaging types it is designed to process and will be an integral component to packaging NATERA Plant Based Foods. The line will also be utilized for packaging existing products manufactured at the facility including our lines of plant-based bars and bites.

The Company recently announced signing a Letter of Intent (LOI) to be the exclusive Canadian manufacturer of plant-based, meat-replacement products for Flexitarian Foods, a division of Australia's largest plant-based food manufacturer. This enhanced packaging capability provides the ability to take an already extensive line of products, and through additional packaging options, increase the range of finished goods for retail and foodservice distribution opportunities.

Company CEO, Mr. J. Craig Goodwin reports, "Adding this packaging line immediately increases the range of products and services we can offer retail and foodservice clients. The strategy to leverage the resources of our existing facility and experienced production team by adding additional equipment specific to the production of NATERA Plant Based Foods, is being executed. The manufacturing lines to produce the plant-based product lines have been specified, and we will begin the systematic process of ordering, installing, and commissioning these lines once the definitive agreement with Flexitarian Foods is completed. This facility will be capable of manufacturing a wide range of plant-based alternatives for beef, chicken, pork, fish and shellfish once completed. We look forward to providing timely updates as these initiatives develop".

Shares For Debt Transaction

The Company announced today that its board of directors has approved the settlement of $255,225.11 in debt through the issuance of common shares of the Company (the "Debt Settlement"). Pursuant to the Debt Settlement, the Company will issue a total of 3,646,071 common shares of the Company at a price of $0.07 per share to certain creditors of the Company, including certain directors and officers of the Company (collectively, the "Creditors"). All 3,646,071 common shares will be subject to a hold period expiring four months and one day from the date of issuance.

About Naturally Splendid Enterprises Ltd.

Founded in 2010, NSE operates a Safe Quality Food Level 2 certified food manufacturing facility just outside Vancouver, BC in Canada. The Company has established numerous healthy, functional foods under recognized brands such as Natera Sport™, Natera Hemp Foods, CHII, Elevate Me™ and Woods Wild Bar™, and most recently Natera Plant Based Foods, a line of delicious plant-based meat alternatives for the rapidly growing plant-based market segment.

The Company has a myriad of new products and line extensions under development that are approaching launch. NSE, through its joint venture Plasm Pharmaceutical, has been approved for conducting a phase 2 clinical trial approved by Health Canada for treatment of COVID-19.

NSE has also developed proprietary technologies for the extraction of high-demand, healthy omega 3 and 6 oils from hemp.

NSE contract manufacturers for healthy, functional food products and ingredients focusing on plant-based ingredients. The Company provides contract manufacturing services for many healthy food companies, private labeling a wide variety of nutritional food products destined for global healthy food markets.

For more information e-mail info@naturallysplendid.com or call Investor Relations at 604-465-0548 (ext.105)

On Behalf of the Board of Directors

Mr. J. Craig Goodwin
CEO, President, Director

Contact Information

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
E-mail: info@naturallysplendid.com
Website: www.naturallysplendid.com

Forward-Looking Statements

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.

SOURCE:Naturally Splendid Enterprises Ltd.



View source version on accesswire.com:
https://www.accesswire.com/652260/Naturally-Splendid-Purchases-Packaging-Line-and-Announces-Shares-for-Debt-Transaction

News Provided by ACCESSWIRE via QuoteMedia

The Conversation (0)
  BPH Global Ltd

120-Day Business Development Plan

The Board of BPH Global Ltd (ASX: BP8) (Company) announces that the Company’s CEO Matthew Leonard and CFO Chow Yee Koh are currently travelling in Malaysia and China for a series of meetings over a 2–3- week period commencing last week. The CEO and CFO will be joined by China-based Company Director Michael Huang for strategic meetings in Malaysia and China.

Keep reading...Show less
  BPH Global Ltd

BP8 to Expand Seaweed R&D Activities into Essential Mineral Extraction Utilising AI Search Technology; Carbon Credits

The Board of BPH Global Ltd (ASX: BP8) (Company) is pleased to announce that the Company is expanding the nature of its business to include the following projects:

Keep reading...Show less
Sirona Biochem Receives Commercial-Grade GlycoProteMim Based Anti-Aging Serum Formulations

Sirona Biochem Receives Commercial-Grade GlycoProteMim Based Anti-Aging Serum Formulations

Sirona Biochem Corp . (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) (" Sirona " or the " Company ") announces a significant achievement in its quest to transform the skincare industry. Its subsidiary, TFChem, has successfully received formulations for its eagerly awaited GlycoProteMim™ based anti-aging serum from its formulation partner, Global Beauty Consulting (GBC). This marks a crucial step in Sirona Biochem's plan to offer innovative skincare solutions.

The chosen formulation will not only define the brand but also lay the foundation for a broader range of products. The team is in the process of selecting the precise formulation that will undergo standard safety evaluations and be used in the upcoming clinical trial. This is in preparation for the planned product launch in early 2025, ensuring compliance with regulatory standards in the European, US, and Canadian markets.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
double helix molecule with word "etf"

5 Small Biotech ETFs to Watch (Updated 2024)

Thanks to exchange-traded funds (ETFs), investors don’t have to be tied to one specific stock. Biotech ETFs allow market participants to gain leverage in multiple biotech companies via one investment vehicle.

The life science sector can certainly be risky, and ETFs are a good way to enter more safely than by investing in standalone stocks. A key advantage is that even if one company in the ETF takes a hit, the impact will be less direct.

Below the Investing News Network takes a look at five small biotech ETFs for investors to consider. They were selected using ETFdb.com, and their total assets under management (AUM) were under US$100 million as of March 8, 2024. All other figures were also current as of that date. Read on to learn more about these investment vehicles.

Keep reading...Show less

AMGEN PRESENTS NEW RESEARCH ON OTEZLA® AT AAD 2024

SPROUT 52-Week Data Demonstrate Durable Response and Consistent Safety Profile of Oral Otezla in Children with Moderate to Severe Plaque Psoriasis

Late-Breaking Phase 3 Study of Otezla in Palmoplantar Pustulosis Achieves Primary and Secondary Endpoints at 16 Weeks

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
Collage with hands holding shiny DNA molecule on blue background.

5 Biggest Biotechnology ETFs in 2024

Investing in the biotech industry can be a long road to gains given the sector’s volatility.

Even with a good understanding of the system, no one can predict which treatment, device or therapy will give the biggest return, making biotech exchange-traded funds (ETFs) a more secure option than individual biotech stocks.

An ETF is a relatively safe investment route that can minimize losses while offering exposure to multiple companies instead of focusing on the gains and losses of a single biotech stock. With that in mind, here’s a brief look at the five top biotechnology ETFs by total assets. Data was sourced from ETFdb.com on March 1, 2024, and all data was current as of that time.

Keep reading...Show less

Latest Press Releases

Related News

×