VANCOUVER, British Columbia, Dec. 12, 2016 (GLOBE NEWSWIRE) -- Naturally Splendid Enterprises Ltd. (“Naturally Splendid”) (FRANKFURT: 50N ) (TSX-V: NSP ) (OTC:NSPDF) CEO Mr. Dave Eto is pleased to provide the following corporate update.
Senior Management and selected Advisory Board Members have been diligently preparing a Strategic Business Plan to capitalize on the multiple opportunities in front of Naturally Splendid. The Strategic Business Plan focuses on a number of key opportunities including: export; existing retail product lines and product line extensions; capitalizing on our technologies including HempOmega™ and CBD; maximizing our opportunities at our POS Bio-Processing Centre; as well as developing new revenue streams through the packaging line from Eat Real Snack Foods, a transaction that we are in the final process of closing.
Mr. Eto reports, “ The Company will be redeploying its internal expertise to focus on these key strategic areas. I will be reaching out to my existing network and leveraging those relationships to enhance current business as well as to create new business opportunities for the Company - there will be an unwavering effort to execute our revised Strategic Business Plan. We will focus on our products and technologies and apply the necessary resources in a pragmatic and creative manner. I believe that innovation is the differentiator that will drive the growth and stakeholder interest of Naturally Splendid. In my career, I have applied the following three principals; be the first, be different and be the best. Together with a renewed sense of mission and corporate values our strategic plan has evolved and will be successfully completed ”.
Mr. Eto adds, “ In addition to the strategic business plan, the Company completed a significant capital raise of over $4,000,000 CDN in Q3 of this year. These funds have cleared any outstanding debt or loans the company incurred and will provide the company sufficient capital to execute its strategic plan moving forward. Aside from the lower than anticipated Q3 results, the Company is in a position of strength with several tangible opportunities in sight for 2017 and the future . Naturally Splendid also continues to work with our local hemp seed processor to improve yield recovery and output issues. They have committed to investing in additional equipment to match Naturally Splendid’s increasing sales demand and we are confident these improvements will satisfy our needs."
At present, Naturally Splendid is continuing to work closely with a potential distributor representative based in SE Asia. This company is beginning some market development in the hemp products sector for some of Naturally Splendid’s product lines. The distributor at this time is as well forging ahead with the registration issues within the country.
Mr. Eto has spent over 30 years in the food processing industry and most recently served as Executive Director and Chief Executive Officer of the BC Dairy Association where he was responsible for the overall management of the BC Dairy Association, including communicating with hundreds of farmers, working with various governmental departments as well as developing many of the marketing initiatives launched during his term. Previously, Dave held a senior corporate position with Premium Brands Holdings, which is a company listed on the TSX and is a Canada-based producer, marketer and distributor of specialty food products. Mr. Eto has held the position of President and Chair of the BC Food Processors’ Association for the past five years where he has developed many contacts within the government, academia and the food processing industry. He has significant experience in operational, sales & marketing and manufacturing in a variety of foods including dairy, bakery and ready to eat products.
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. The Company'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@naturallysplendid.com or call 604-673-9573
On Behalf of the Board of Directors Mr. Dave Eto CEO, 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) Naturally Splendid Enterprises Ltd. #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
