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VANCOUVER, BRITISH COLUMBIA / TheNewswire / October 9, 2015 - Naturally Splendid Enterprises Ltd. (the "Naturally Splendid") (FRANKFURT:50N) (TSX VENTURE:NSP) (OTC:NSPDF) reports that after careful consideration, it has revised its strategy to penetrate the growing Cannabidiol (CBD) market in the United States.
Naturally Splendid CEO, Craig Goodwin, reports, "After securing the exclusive North American rights for Medropharm's food grade hemp powder with cannabidiol (CBD) and their co-operation in developing additional CBD based products for Naturally Splendid to distribute, it became clearer in the last couple of months that there is really no need to invest into our own US-facility. In fact, the CBD production is far more cost effective to have Medropharm manufacture the products for Naturally Splendid, making this solution the best option. We are extremely confident that the product development expertise and production capacity of Medropharm will meet demand in the fast growing CBD market in the United States. Furthermore, we are looking forward to expand the product offerings from Medropharm. In addition to the food grade hemp product with Cannabidiol expression, supercritical CO2 oil in purified and unpurified versions as well as a number of different high-quality products. ." Naturally Splendid will obtain all required legal opinions and TSX approval prior to commercializing the new products.
Having re-evaluated its business strategy for developing opportunities in the United States, which includes the marketing of cannabidiol (CBD), the Company has accepted the resignation of David Racz as President and a director of Naturally Splendid USA Ltd. Naturally Splendid wishes to thank Mr. Racz for his services in these positions. The management consulting agreement with David Racz was terminated accordingly but he will continue to remain a director of Naturally Splendid as well as a director and Chairman of POS BPC Manufacturing Corp. Mr. Racz will now be able to focus his attention on developing opportunities at the recently acquired POS BPC facility.
Replacing Mr. Racz, is Mr. Dennis Colon. Mr. Colon has been a full time consultant to Naturally Splendid since April 2015 when he transitioned from Boreal Technologies, Inc. to Naturally Splendid. Mr. Colon has over 20 years of professional business experience including overseeing the R&D and product development of cannabis sativa extracts including the development of HempOmega(TM). Naturally Splendid VP of Operations, Bryan Carson states, "We have had the pleasure of working with Dennis for the past two years. We have found his work to be of the highest levels and look forward to working with Dennis in this new role".
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(R) brand of retail hemp superfood products currently distributed throughout North America; (2) PawsitiveFX(TM) brand of pet care products; (3) BCI 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 hemp 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 that will revolutionize the production of high-quality, naturally-occurring cannabinoids. Our 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, please visit http://www.medropharm.ch/en.
For more information please 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. 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 the Company's plans will be found to be commercially viable, POS will be successful in developing new plant based omega products; the costs to develop these products will not be higher than anticipated; the Company's ability to compete with large food and beverage companies; sales of any potential 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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