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Message: Press Release - Naturally Splendid Enterprises Ltd.
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Press Release - Naturally Splendid Enterprises Ltd. |
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BURNABY, BRITISH COLUMBIA (July 29, 2015) - Naturally Splendid Enterprises Ltd. (“Naturally Splendid” or the "Company") (TSX VENTURE: NSP) (OTCQB: NSPDF) (FRANKFURT: 50N) is pleased to announce that further to a Letter of Intent (“the LOI”) with Laguna Blends Inc. (Laguna) announced on April 8, 2015, the Company has signed a definitive development and manufacturing agreement with Laguna who have now placed an initial Purchase Order of $100,000.00 CDN for HempOmega™ Infused Hemp Protein Formulations (“Laguna HempOmega™ Infused Protein Products”). Laguna anticipates ordering a further $1,500,000 of the HempOmega™ Infused Protein Products in the first year of the Agreement and $4,500,000 of the HempOmega™ Infused Hemp Protein Products in the second year of the Agreement. Naturally Splendid CEO Craig Goodwin states, “We are pleased to receive this first Purchase Order from Laguna Blends. Naturally Splendid has developed four (4) unique hemp protein formulations enhanced with HempOmega™ and flavoured to meet Laguna’s requirements. Laguna has been granted exclusive rights to these specific four formulations. Naturally Splendid retains all of its rights to HempOmega™ and will continue to cultivate additional clients for this ingredient.” Under the Agreement, Naturally Splendid is granting Laguna, (i) a license to include the HempOmega™ trade-mark on the Laguna HempOmega™ Infused Protein Products, as specified on a white private label agreement, (ii) a worldwide exclusive on these specific formulations dependent on Laguna achieving certain sales targets (iv) and the right and license to Laguna to sell the Laguna HempOmega™ Infused Protein Products. Laguna must meet the following minimum gross sales targets for the Laguna HempOmega™ Infused Protein Products in order to retain exclusive rights to these products: $1,600,000 in the first year after entry into the Agreement, and $4,500,000 in the second year after entry into the Agreement. Stuart Gray, President, CEO and Director of Laguna Blends Inc. states, “We would like to thank Naturally Splendid for the research and development of these four (4) initial products. Our market research indicates a strong pull for high quality, plant based omega and protein products. In this area, Naturally Splendid scores a ten out of ten in my opinion. Laguna affiliates will begin to retail these products in the United States and Canada.” Naturally Splendid CEO, Mr. Craig Goodwin states, “We are very pleased to have the opportunity to secure a significant strategic partner to market and distribute HempOmega™ infused products. We look forward to providing exceptional products and supporting Laguna in their sales efforts.” 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 four innovative divisions: (1) Natera® brand of retail hemp superfood products currently distributed throughout North America; (2) PawsitiveFX™ brand of pet care products; (3) BCI Division of plant-derived bulk ingredients including patent-pending HempOmega™; and (4) hemp-based cannabinoid pharmaceuticals and 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. About Laguna Blends Inc. Laguna’s business is focused on the nutritional health benefits derived from hemp. Laguna has independent affiliates that generate retail sales and have the ability to recruit other affiliates. Laguna’s affiliates utilize tools and technology that enable them to build an international business from their own home or while travelling on the road. The first products to be launched by Laguna are expected to be functional beverages that provide high levels of protein and/or nutrition. Laguna’s products are made from high quality hemp protein. Laguna’s initial products are: (i) a hemp coffee beverage that contains both whey and hemp protein; and (ii) the Laguna HempOmega™ Infused Protein Products which are flavoured single serving hemp protein packs that can be added to cold beverages. Laguna plans to market the Laguna HempOmega™ Infused Protein Products under the Laguna Blends brand and/or other brand names owned by Laguna. Laguna plans to sell its products through its independent affiliates in the USA and Canada. For more information e-mail [email protected] or call 604-673-9573 On Behalf of the Board of Directors J. Craig Goodwin CEO, Director Contact Information Naturally Splendid Enterprises Ltd. (NSP – TSX Venture; NSPDF – OTCQB; 50N Frankfurt) 2435 Beta Avenue Burnaby, BC, V5C 5N1 Phone: (604) 570-0902 Fax: (604) 570-0934 E-mail: [email protected] 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. There is no guarantee that the Company’s plans will be found to be commercially viable, POS will be successful in developing new plant based omega products; the costs to develop these products will not be higher than anticipated; the Company’s ability to compete with large food and beverage companies; sales of any potential products developed will be profitable; 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. |
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