VANCOUVER, British Columbia, June 28, 2018 (GLOBE NEWSWIRE) -- Naturally Splendid Enterprises Ltd. ("Naturally Splendid," “NSE” or “the Company”) (FRANKFURT:50N) (TSX-V:NSP) (OTC:NSPDF) is pleased to announce that it has contracted with a long established organic hemp farmer, Fresh Air Farms, for 330 acres of organic agricultural land to provide organic hemp production for the 2018 and 2019 growing seasons.
Fresh Air Farms is an organic farm located in Marcelin, Saskatchewan, Canada with roots that go back to 1911, when the Grenier family first began farming there.
In the agreement, Naturally Splendid has the right to purchase up to 100% of the organic hemp production from the 330 acres for the 2018 and 2019 growing seasons. Currently, the Company is securing the acreage for organic hemp seed production. However, as the new hemp regulations under Bill C-45 come into effect, the Company has the option to convert some or all the acreage to CBD (cannabidiol) production.
The Company anticipates designating a portion of the organic cultivation for research and development of high yielding CBD (cannabidiol) hemp. Naturally Splendid intends to expand this model of identifying organic acreage for hemp seed and/or CBD cultivation to secure additional acreage in the future.
According to Russ Crawford, Naturally Splendid Director and President of the Canadian Hemp Trade Alliance, “The pending regulations addressing the legalization and deregulation of cannabis in Canada signals a new beginning for the hemp industry, and in particular, organic production. Securing organic acreage to meet future demands as the uses for organic hemp increase with the coming of the new regulations, positions the Company for sustainable growth.”
Naturally Splendid CEO Mr. Douglas Mason states, “Securing organic acreage is very much a cornerstone to our vertically integrated business plan. The recent acquisition of hemp processor ACI Foods, strengthens our efficiencies in product supply of organic hemp seed, hemp hearts, hemp oil and hemp protein into existing Company retail brands NATERA® and Chii™ while increasing our margins considerably. As importantly, the fact that we can convert the acreage from hemp seed production to CBD (cannabidiol) production gives us immense flexibility as the new hemp regulations come into effect. Additionally, we continue down the path of securing a Dealer’s License which in turn allows Naturally Splendid a myriad of new revenue opportunities including cannabinoid extraction and toll processing, as well as the ability to introduce new CBD fortified products currently under development by our experienced team of formulators. Product categories for CBD fortification under development include food and supplements, beverages, skincare and cosmetics and pet care and food products which we plan to market through established distribution channels with our existing divisions and brands.”
According to a recently published TechSci Research report, "Global Organic Food Market Forecast & Opportunities, 2020," the global organic food market is projected to register a CAGR (compound annual growth rate) of over 16% during 2015 - 2020. Growth in the market can be attributed to growing health concerns among consumers and increasing awareness with regard to health benefits of organic food. Other factors driving organic food sales across the globe include increasing income levels, improving standard of living, and government initiatives aimed at encouraging widespread adoption of organic products.
About Naturally Splendid Enterprises Ltd.
Naturally Splendid is a biotechnology and consumer products company that is developing, and we are 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) BIOTECHNOLOGY – Focused on three major platforms:
- Proprietary HempOmega™ encapsulation
- Extraction and formulation with Cannabidiol (CBD)
- Hemp and plant-based proteins.
(2) CONSUMER PRODUCTS -
- NATERA® - brand of retail hemp and superfood products distributed throughout North America, Asia and Europe.
- Prosnack Natural Foods Inc. (Elevate Me™) - lifestyle brand of healthy meal replacement products distributed throughout North America.
- Chi Hemp Industries Incorporated (CHII) - e-commerce platform for natural and organic hemp products.
- PawsitiveFX® - topical pet care products.
- NATERA®CBD - retail hemp-based cannabinoid nutraceutical and cosmeceutical products distributed in Asia.
- NATERA®Skincare - brand of retail hemp based cosmeceutical products.
(3) NATERA® Ingredients - bulk ingredients including HempOmega™.
- ACI Foods is a science-based, industrial hemp seed processing business located in Abbotsford, BC. Listed as the only strictly organic hemp seed processor in North America
(4) Co-Packaging/Toll-Processing and Manufacturing - packaging for house-brands (NATERA®, CHII™ and Elevate Me™) and third-party partners.
For more information e-mail email@example.com or call Investor Relations at 604-673-9573
On Behalf of the Board of Directors
Mr. Douglas Mason
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
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.
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