NSP Receives $3,536,650 From the Sale of P0S-BPCNaturally Splendid Receives $3,536,650 From the Sale of the P0S-BPC Facility VANCOUVER, British Columbia, February 21, 2018 -- Naturally Splendid Enterprises Ltd. ("Naturally Splendid" or "NSE") (TSX-V:NSP) (OTCQB:NSPDF) (Frankfurt:50N) is pleased to announce that it has sold its 51% majority interest in the P0S BPC Manufacturing Corp. ("BPC") located in Saskatoon, Saskatchewan, for $3,536,650 CDN. Naturally Splendid purchased its 51% interest in BPC for $1,971,000 in cash and shares on June 15th, 2015. The Company has made a gain of $1,565,650 CDN off the transaction.
Naturally Splendid CEO Mr. Douglas Mason states, "I am very pleased with the decision to sell our position in the BPC facility. This immediately adds non-dilutive cash to our operations and allows us to explore and execute on other opportunities the Company has been researching.
As reported earlier, Naturally Splendid has begun preparing a submission to become a Licensed Dealer of cannabis extracts under the Canadian regulatory regime. This will permit the Company to pursue a number of activities related to cannabis and the extraction, formulation and distribution of cannabinoids such as cannabidiol ("CBD").
Our goal is to have ownership of our own facility that will focus on the latest extraction and formulation methods by forming strategic alliances and partnerships with companies specializing in extraction technologies. Given the latest advances that have been made over the past years in extraction and formulation methods, the BPC facility did not fit within the strategic plans of the Company."
Naturally Splendid Director and Chief Operating Officer Mr. Bryan Carson states, "In addition to establishing a cannabinoid extraction strategy, we have identified third party manufacturers with state of the art facilities to produce our Hemp emulsion, HempOmega(TM), and Hemp Protein Isolate. Securing third party manufacturers eliminates the need to invest in upgrades at BPC and allows those funds to be directed towards expanding our production capability at our Pitt Meadows operations".