PP????? 2016-06-07 12:27 MT - News Release Mr. J. Craig Goodwin reports
NATURALLY SPLENDID ANNOUNCES PROPOSED PRIVATE PLACEMENT FINANCING
Naturally Splendid Enterprises Ltd.'s board of directors has approved a proposed private placement offering of a minimum of 5,555,555 units up to a maximum of 9,259,259 units at a price of 27 cents per unit for minimum gross proceeds of $1.5-million and up to maximum gross proceeds of $2.5-million.
Naturally Splendid chief executive officer Craig Goodwin states: "We continue to increase sales through several channels including exports, our 100-per-cent-owned retail lines, as well as the P0S Bio Processing Centre. On July 1, 2016, the company will be moving to its new expanded location in the Greater Vancouver region to accommodate the increased product flow and sales. This raise allows us to continue our aggressive exporting strategy and add to our South Korean success with exports to additional countries in Asia and Europe. We are currently at an advanced stage of negotiations with three countries for bulk and retail exports of our hemp-based products, including HempOmega."
Mr. Goodwin further states: "We will also direct funds towards commercializing and monetizing our cannabidiol (CBD) technologies and products as regulatory issues continue to clear, resulting in fewer legal challenges in this highly regulated market, subject to TSX Venture Exchange regulatory approval. As with emerging opportunities, timing is of utmost importance, and we are well positioned to penetrate this market as that time nears. We believe it is just a matter of time until the CBD regulations are relaxed allowing for neutraceutical grade-CBD products."