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VANCOUVER, BRITISH COLUMBIA / TheNewswire / June 23rd, 2015 / - Naturally Splendid Enterprises Ltd. (the "Naturally Splendid" or "NSE") (FRANKFURT:50N) (TSX VENTURE:NSP) (OTC:NSPDF) is pleased to announce that its wholly-owned U.S. subsidiary, Naturally Splendid USA, has entered into an exclusive Sales and Distribution Agreement for North America, with Medropharm GmbH, a biotech company located in Kradolf, Switzerland. Medropharm specializes in the production, extraction, research, and formulation of raw materials and products derived from industrial hemp. Under the Agreement, Naturally Splendid USA will have the exclusive rights to market and distribute in North America an edible, cannabidiol-rich, hemp powder, as well as the non-exclusive rights to market and distribute hemp-derived cannabinoid extracts and formulations globally. The products contain naturally-occurring cannabidiol, a non-psychoactive cannabinoid prevalent in industrial hemp strains of Cannabis sativa. The term of the initial exclusive Distribution Agreement is for two (2) years. Pursuant to the agreement, Naturally Splendid will be permitted to sell the products to Medropharm's existing clients. Naturally Splendid is required to purchase 2,000kg of the hemp powder in the first year and 3,000kg in the following years to accommodate Medropharm's existing product demands as well as NSE's own industry prospects.
Medropharm's industrial hemp is sustainably grown on over 3,500 hectares under strict EU Regulations with constant monitoring to minimize the environmental impact and ensure the highest quality of raw materials. From seed through product development, the raw materials are analyzed to ensure consistency in quality, safety and composition. The products are manufactured and tested in facilities with FDA, ISO, and cGMP certifications which is rare find in this burgeoning industry.
CEO Craig Goodwin expressed, "Naturally Splendid is thrilled to have found a partner like Medropharm with a similar focus on quality and accountability. We are most fortunate to start this exclusive distribution agreement with Medropharm as it allows us to continue sales of the Medropharm products in the United States to clients that previously purchased the products from Medropharm directly. It is our intention to build on that existing clientele and increase sales volumes significantly. We remain committed to maximizing the multiple revenue streams available from this one amazing plant".
Medropharm's CMO Patrick Widmer states, "We are delighted to partner with Naturally Splendid for high-volume distribution of our hemp-derived products. We share the same strategy focused on creating an industry standard for transparency and quality for our consumers. Our cultivation and inventory are sufficient to allow Naturally Splendid to generate annual sales of our cannabidiol (CBD) products at approximately US $10,000,000. We are confident that Naturally Splendid, through focused efforts, can grow annual sales of the products to ten (10) tons annually in the United States as the regulatory environment continues to evolve. There are many exciting future opportunities on the horizon for our partnership with Naturally Splendid and we look forward to a prosperous relationship."
Naturally Splendid's Manager of Regulatory Compliance Katie Schmitt states, "We have worked diligently securing the necessary legal opinions in the jurisdictions where we will be operating both in Switzerland regarding the exportation of these CBD products, as well as the markets in the United States where we will be importing the hemp-derived products and distributing them." The products that will be distributed throughout the United States do not violate the Controlled Substances Act as they are derived from permissible parts of the industrial hemp plant. These quality ingredients are suitable components for food and cosmetic applications and will be available for wholesale throughout the U.S. Other products will be available for distribution in jurisdictions in accordance with applicable regulatory guidelines.
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(TM) brand of retail hemp superfood products currently distributed throughout North America; (2) PawsitiveFX(TM) brand of pet care products; (3) BCI(TM) division of plant-derived bulk ingredients including patent-pending HempOmega(TM); 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 Medropharm GmbH
Medropharm GmbH is a biotech company that specializes in the production, extraction, research, and formulation of raw materials and products derived from industrial hemp. Medropharm is committed to researching the medicinal plant Cannabis sativa and processing its components into high-quality inputs for the food, cosmetic and pharmaceutical industries. Medropharm is deeply involved in sustainable plant propagation and is currently developing new germplasms and cultivation methods are intended to revolutionize the production of high-quality, naturally-occurring cannabinoids. Medropharm's mission is to produce high-quality cannabinoids for the pharmaceutical and food industries by means of rigorous standards of production and quality control, and to become a world leader in the research, development, manufacture and distribution of cannabinoid-containing products.
For more information e-mail info@naturallysplendid.com 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: 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 including statements relating to sales expectations, maintaining and expanding the existing client base for the products and the commercial viability of the distribution agreement. 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 Naturally Splendid's plans will be found to be commercially viable; the exclusive distribution agreement may not be profitable for Naturally Splendid; there is no guarantee of sales of the products by Naturally Splendid and there is no assurance that the minimum purchase amount will be met; Naturally Splendid's ability to compete with large food and beverage companies; sales of any 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.
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