Naturally Splendid Submits Dealer License Application
06 July 2018 - 10:30PM
InvestorsHub NewsWire
Vancouver, BC -- July 6, 2018 -- InvestorsHub
NewsWire -- Naturally Splendid Enterprises
Ltd. ("Naturally Splendid", “NSE” or “the
Company”) (FRANKFURT:50N) (TSXV:NSP) (OTC:NSPDF) is pleased to
announce that it has completed and submitted their Dealer License
Application to Health Canada for processing. The Dealer License
Application is a comprehensive document that includes critical
areas such as; Facility Layout and Construction Details; Standard
Operating Procedures; Quality Person in Charge Selection; Criminal
Record Checks; Safety Protocols; and Security
Plans.
As announced in a previous news release dated
February 6, 2018, the Company engaged Cannabis Compliance Inc. to
prepare the Dealer License Application in order for the Company to
become a Licensed Dealer of cannabis extracts under the Canadian
regulatory regime. Cannabis Compliance Inc. has a 100% success
record in securing Dealer License’s for their clients.
Becoming a Licensed Dealer allows the Company to pursue a number of
R&D activities related to cannabis, including but not limited
to the extraction, formulation and distribution of cannabinoids
such as CBD (cannabidiol) and/or THC (Tetrahydrocannabinol),
amongst other activities. Regulatory compliant activities
include:
1) Manufacturing
2) Packaging
3) Preparation of R&D Formulations for future
manufacturing
4) Resale and distribution to other licensees
5) Importing and exporting for global sales
6) Laboratory testing
7) Contract NSE services for any of the above activities
The Company has secured an additional 4,000 square feet of
manufacturing space adjacent to their existing processing facility,
specifically for the extraction facility as outlined in the Dealer
License Application. An extensive review of extraction technologies
has been completed and construction of the facility has begun.
Cannabis Compliance representative and CFO Mr. Sid Hathiraman
states, “From the R&D and manufacturing perspective, Licensed
Dealers are permitted to prepare formulation from cannabis whether
that be from hemp or marijuana. On the other hand, Licensed
Producers (“LPs”), who are the growers of medical marijuana, are
limited to formulations with only carrier oils. LPs cannot
add additives, e.g. flavour, stabilizer or any other ingredient
that would be required to manufacture or alter the cannabis product
in the form of an edible, Natural Health Products (NHPs),
nutraceutical or pharmaceutical products. This is the role of the
Licensed Dealer, thus creating business opportunities not available
to LPs”.
According to the Prime Minister’s office, new regulations regarding
hemp and marijuana in Canada, will come into effect October 2018.
The new Cannabis Regulations will include provisions for Licensed
Dealers to transition into the new regulatory framework as Licensed
Processors. Additionally, It the revised hemp regulations
will allow for the extraction of CBD from hemp. Currently CBD is
only allowed to be extracted from marijuana which legally limits
the uses of CBD currently.
In regards to CBD extraction from hemp, the Company announced in a
news release dated June 28, 2018 that it has contracted with a long
established organic hemp farmer, Fresh Air Farms, located in
Saskatchewan, Canada, for 330 acres of organic agricultural land to
provide organic hemp production for the 2018 and 2019 growing
seasons. Naturally Splendid has the right to purchase up to 100% of
the organic hemp production from the 330 acres. Although, the
Company initially secured the acreage for organic hemp seed
production, the Company has the option to convert some or all the
acreage to CBD (cannabidiol) production.
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. Additionally, the Company
anticipates designating a portion of organic cultivation for
research and development of high yielding CBD (cannabidiol)
hemp.
Naturally Splendid CEO Mr. Douglas Mason states, “Securing organic
acreage, obtaining our Dealer’s License and the imminent positive
changes to hemp and marijuana regulations in Canada as well as a
more global acceptance of cannabis allows Naturally Splendid to
continue to evolve our business, and to execute our strategic plan.
This allows the Company to position itself as growing global trends
towards CBD have become more acceptable. Naturally Splendid intends
to be at the forefront of that opportunity utilizing our IP;
formulating and processing expertise; and distribution through our
existing and developing distribution channels globally in
jurisdictions that allow for CBD and CBD fortified products.”
Naturally Splendid Executive Vice President of Sales Mr. Alan
Maddox states, “Production of our own cannabinoids such as CBD and
THC is a strategic component to our vertically integrated business
plan. Our 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. This acquisition allows us to go from farm to plate,
a marketing and sales dream for food products. As
importantly, the ability to introduce new CBD fortified products
currently under development by our experienced team of formulators
into multiple product categories provides competitive advantages
for our retail lines. In addition, CBD fortified products under
development include food and supplements, beverages, skincare &
cosmetics and pet care and pet nutrition, which we plan to market
through established distribution channels.”
About Cannabis Compliance
Inc.
For over a decade, Cannabis Compliance Inc. (“CCI”) has offered
risk mitigation, due diligence and regulatory compliance for
commercial cannabis producers and resellers around the world.
Their focus is in the Global market, and they provide their clients
with trusted and comprehensive solutions. CCI has extensive
expertise in regulatory compliance, cultivation/horticulture,
security designs/tender, facility designs/build-outs, quality
assurance programs, Import & Export, staff recruitment and
financial planning. They have provided services to several Licensed
Producers as well as ‘industry companies’, resulting in the
successful granting of licenses.
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 info@naturallysplendid.com or call Investor Relations
at 604-673-9573
On Behalf of the Board of Directors
Mr. Douglas Mason
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;
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.
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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