Biotech

Naturally Splendid Signs Definitive Agreement

10-Year Exclusive Manufacturing and Distribution Rights to Popular Plant Protein, Meat Alternative Line

Naturally Splendid Enterprises Ltd. ("Naturally Splendid", "NSE" or "the Company") (FRANKFURT:50N) (TSXV:NSP) (OTC PINK:NSPDF) is pleased to announce the signing of the Definitive Agreement with Flexitarian Foods Pty. Ltd., a division of Australia's largest plant-based manufacturer, to become the exclusive Canadian manufacturer and distributor for an extensive line of plant-based, meat-alternative products

The exclusive manufacturing and distribution rights are for an initial 10-year term with a 10-yearrenewable term.

Natera Plant-Based Foods is currently offering 10 SKUs, including a Plant-Based Burger;Crispy Chick-Un Burger;Seasoned Chick-Un Tenders;Sweet Chili Chick-UnTenders; Chick-Un Nuggets;Crispy Chick-Un Cutlets(schnitzel); Crispy Fish-UnFilet; Garlic Chick-Un Kiev; Cheesy Chick-Un Bites and Garlicky Chick-Un Bites.

These existing SKUs, plus additional plant-based entrees, will be manufactured in Naturally Splendid's existing Safe Quality Food (SQF) certified manufacturing facility in Pitt Meadows, BC.

Manufacturing in Canada will have many advantages inherently built-in from the current importation model, including increased margins due to, reduced transport cost and optimizing inventorylevels with a ‘just in time order strategy', as well as incorporating Canadian-grown ingredients, thus optimizing supply chains.

The output capacity of this facility is designed to produce 8 to 10 tons of product per shift, per day. This output capacity brings a wide range of larger clients into play.

Capital costs associated with commissioning such a facility is drastically reduced by leveraging Naturally Splendid's existing SQF certified manufacturing facility. Manufacturing lines are being finalized and estimated to cost $800,000 CDN to purchase the required manufacturing equipment and retrofit the existing facility to accommodate manufacturing of these plant-based, meat alternative products.

Naturally Splendid has already begun the process of retrofitting its existing 20,000 square foot, SQF Certified food manufacturing facility. This facility will manufacture a wide range of plant-based alternatives for beef, chicken, pork, fish and shellfish under the guidance of Flexitarian Foods.

Flexitarian Foods is the manufacturer of the Plantein products in Australia. Managing Director of Plantein Mr. Evan Tsioukis states, "We have grown the Plantein brand to be one of the most popular plant-based choices in Australia and are excited with the opportunity to work with Naturally Splendid and the Natera brand, building business together incorporating the same strategy, philosophies and processing techniques that have made the Plantein brand a success in Australia."

As announced in previous news releases, the Company has developed a distribution network covering Canada coast to coast including CANEX Foods, Sysco, Gordon Food Service, Intercity Packers Meat and Seafood, Georgia Main Food Group, and others. This network of distributors provides access to thousands of clients across almost every distribution channel, including chain and independent retailstores and chain restaurants and individual locations.

Naturally Splendid Chief Executive Officer Mr. J. Craig Goodwin states: "We are more than pleased to execute this definitive agreement to be the exclusive Canadian manufacturer and distributor for this amazing line of plant-based entrees. The strategic move to become the exclusive manufacturer in addition to being the exclusive distributor, is pivotal for the Company. We believe the current variety of plant-based products that we will be manufacturing, as well as several new plant-based entrees that will be brought to market in a timely manner, creates a competitive edge when measured against the majority of plant-based manufacturers with a lessor selection. We look forward to delivering these delicious plant-based offerings to a broad range of food service and retail clients through our existing distribution network".

About Naturally SplendidEnterprises Ltd.

Founded in 2010, NSE operates a Safe QualityFood Level 2 certified food manufacturing facilityjust 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 HealthCanada 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, 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; 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.

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 EXCHANGENOR ITS REGULATION SERVICES PROVIDER(AS THAT TERM IS DEFINEDIN THE POLICIES OF THE TSX VENTUREEXCHANGE) 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/660092/Naturally-Splendid-Signs-Definitive-Agreement

News Provided by ACCESSWIRE via QuoteMedia

The Conversation (0)
Naturally Splendid Enterprises

Naturally Splendid Enterprises


Keep reading...Show less

Gilead Exercises Option to License Nurix's IRAK4 Targeted Protein Degrader Development Candidate, NX-0479

-- IRAK4 Program Represents the First of Up to Five Degrader Programs Within the 2019 Discovery Collaboration Agreement --

-- Nurix to Receive a $20 Million Option Fee --

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

AbbVie Announces Late-Breaking Results of Study Evaluating 52-Week Efficacy and Safety of SKYRIZI® in Plaque Psoriasis Patients With a Prior Suboptimal Response to IL-17 Inhibitor Therapy

  • Treatment with SKYRIZI (risankizumab) demonstrated short- and long-term efficacy of psoriasis signs and symptoms (sPGA 0/1) at week 16 and week 52 in a difficult-to-treat population, with no new safety signals observed in an open-label, single-arm phase 3b study
  • Patients with moderate to severe psoriasis previously received at least six months of treatment with secukinumab or ixekizumab with a suboptimal response, defined as a static Physician's Global Assessment (sPGA) score of 2 or 3 and body surface area of 3% to

ABBVie (NYSE: ABBV) today announced new 52-week data from an open-label, single-arm study demonstrating improved plaque psoriasis signs and symptoms among a difficult-to-treat patient population who received SKYRIZI ® (risankizumab), an IL-23 inhibitor. These moderate to severe plaque psoriasis patients previously had a suboptimal response to treatment with secukinumab or ixekizumab, both IL-17A inhibitor therapies, for at least six months before switching to risankizumab. The data were presented at a Late-Breaking Research session during the 2023 American Academy of Dermatology (AAD) Annual Meeting in New Orleans, Louisiana .

"The evidence presented at the AAD meeting underscores the important role of SKYRIZI in helping patients in a difficult-to-treat population achieve skin clearance and a resolution of their burdensome psoriasis symptoms," said Nicole Selenko-Gebauer , M.D., MBA, vice president, global medical affairs, AbbVie. "Science is at the core of our work, and our continuing research represents our steady commitment to improving the standards of care, now and in the future, for patients with serious immune-mediated conditions like plaque psoriasis."

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Amgen Shareholder Action Reminder

Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Amgen To Contact Him Directly To Discuss Their Options

Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Amgen, Inc. ("Amgen" or the "Company") (NASDAQ: AMGN) and reminds investors of the May 12, 2023 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Bristol Myers Squibb Announces Progress Toward Long-Term Inclusion & Diversity Goals and Health Equity Commitments

- Commitments demonstrate leadership in advancing health equity and workforce representation to better serve patients and communities

- $10 million in 2023 grant funding to 17 U.S. organizations focused on addressing social determinants of health

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Boosh Announces the Closing of its Private Placement Offering and Opens Listing Issuer Exemption Offering

Boosh Announces the Closing of its Private Placement Offering and Opens Listing Issuer Exemption Offering

Boosh Plant-Based Brands Inc. (CSE: VEGI) (OTCQB: VGGIF) (FSE: 77I) ("Boosh" or the "Company") a premier plant-based brand in the "better for you" food sector, is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement financing. In total, the Company has raised $362,000.00 CAD via the sale of 7,240,000 Units. Each Unit is comprised of one Common Share of the Company and one Purchase Warrant, with each Warrant exercisable into one Common Share of the Company at a price of $0.07 CAD at any time on or before the date which is 12 months from the closing of the offering. In connection with the offering, the Company paid $1,750.00 CAD in finders fees. Proceeds from the Offering will be used for general working capital purposes and to further advance the Company's business.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

AbbVie Showcases Strength of Dermatology Portfolio with New Data Presented at the 2023 AAD Annual Meeting

- More than 20 abstracts, including one late-breaking presentation, underscore AbbVie's dedication to advancing care for dermatologic conditions

ABBVie (NYSE: ABBV) today announced it will present more than 20 abstracts, including one late-breaking presentation during the 2023 American Academy of Dermatology (AAD) Annual Meeting, March 17-21 in New Orleans, Louisiana .

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×