Naturally Splendid Packaging Line Commences Operations and Warrant Exercise Raises $445,425
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Naturally Splendid /
Naturally Splendid Packaging Line Commences Operations and Warrant Exercise
Raises $445,425
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The issuer is solely responsible for the content of this announcement.
VANCOUVER, British Columbia, March 14, 2017 (GLOBE NEWSWIRE) -- Naturally
Splendid Enterprises Ltd. ("Naturally Splendid") (FRANKFURT:50N) (TSX-V:NSP)
(OTC:NSPDF) is pleased to announce that its recently acquired packaging system
has been successfully installed and has commenced operations. Naturally Splendid
is now fulfilling the Eat Real Snack Food Canada Ltd. (ERSF) co-packing
contract.
Work has been ongoing since the start of the year to finalise preparation of the
3,000 sq.ft. packaging facility at the Company's Pitt Meadows headquarters.
Installation of the machinery acquired from Eat Real Snack Foods, described in
the agreement announced on 25th January 2017, started during February and was
finished earlier this month. The first order of dried fruit products to be
packaged into stand-up zipper bags is under way and is near completion at the
time of writing of this update.
Naturally Splendid CEO Dave Eto states, "Interest from other co-packing clients
continues to grow and now we are introducing them to our facility. Sample runs
of product and co-packing agreements are being discussed. This is also an
opportunity to introduce our co-packing partners to other parts of our business,
like HempOmega(TM) and food ingredients. Co-packaging facilities like ours are
rare in western Canada. We have tailored our co-packing services to be
beneficial to companies ready to transition from hand-fill operations to a more
automated process. These businesses may not currently have the volumes or
capital to develop their own packaging operations, and are looking to grow. By
offering our services at this level, we provide processing capability to local
processors ready for the next stage of their business."
Naturally Splendid has also received $445,425 in cash and $120,000 in accounts
payable settlement from the exercise of warrants previously granted. The
warrants were exercised at prices of $0.30, $0.35 and $0.40 for a total of
1,464,500 common shares being issued. Following the issuance of these shares,
Naturally Splendid will have 76,010,649 common shares outstanding.
About Naturally Splendid Enterprises Ltd.
Naturally Splendid is a multifaceted biotechnology company that is developing,
producing, commercializing, and licensing an entirely new generation of plant-
derived, bioactive ingredients, nutrient dense foods, and related products.
Naturally Splendid is building an expanding portfolio of patents (issued and
pending) and proprietary intellectual property focused on the commercial uses of
industrial hemp and non-psychoactive cannabinoid compounds in a broad spectrum
of applications.
Naturally Splendid currently has six innovative divisions: (1) Natera® brand of
retail hemp superfood products currently distributed throughout North America
and Asia; (2) Chi Hemp Industries Incorporated (Chii) is selling natural and
organic hemp products through e-commerce (3) PawsitiveFX® brand of pet care
products; (4) Simpli Plant-Based Ingredients Division of plant-derived bulk
ingredients including patent-pending HempOmega®; (5) The 12,000-square-foot POS
/ BPC Facility - which is managed for Naturally Splendid by POS Bio-Sciences -
is positioned to offer commercial-scale custom processing solutions for
biological materials, such as functional foods and natural health ingredients to
a wide range of clients (6) hemp-based cannabinoid nutraceuticals. Naturally
Splendid's advanced technologies, industry expertise, and strategic partners
allow for the creation of customized solutions with a consistent focus on
quality and sustainability.
For more information e-mail info(at)naturallysplendid.com or call Investor
Relations at 604-673-9573.
On Behalf of the Board of Directors
Dave Eto
CEO and Director
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.
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(at)naturallysplendid.com
Website: www.naturallysplendid.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Naturally Splendid via GlobeNewswire
Datum: 14.03.2017 - 11:30 Uhr
Sprache: Deutsch
News-ID 529960
Anzahl Zeichen: 7053
contact information:
Town:
Pitt Meadows, BC
Kategorie:
Business News
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