(TheNewswire)
Vancouver, British Columbia / TheNewswire / November 21, 2016 - Naturally Splendid Enterprises Ltd. (“Naturally Splendid”) (FRANKFURT:50N) (TSX-V:NSP)
(OTC:NSPDF) is pleased to announce its unaudited financial results for the nine months ended September 30, 2016. All amounts are in
Canadian dollars and are prepared in accordance with International Financial Reporting Standards.
Naturally Splendid recorded $1,235,580 in revenue during the third quarter of 2016 (2016 YTD: $6,333,460). This
represents a significant increase in revenue compared to the third quarter of 2015, which amounted to $200,571 (2015 YTD:
$310,523). The significant increase in top line revenue was mainly due to bulk sales of hemp products to Korea and POS BPC
commencing operations in the second quarter of 2016.
Naturally Splendid previously announced it received purchase orders totalling $9.2 million for fiscal 2016 (see news
release dated July 21, 2016) and recorded sales of $7.26 million for fiscal 2016 (see news release dated July 25, 2016).
Naturally Splendid was unable to fulfill the purchase orders and realize these sales in the third quarter due to production
bottlenecks by the third party processor as well as working capital constraints. However, the third party processor has now
resolved the production challenges and is consistently reaching targeted outputs of finished product. CEO, Mr. Craig Goodwin
reports, “It was a frustrating quarter to say the least since the Company had secured the significant purchase orders along with
the necessary inputs. In fact, the third party processor is prepared to further increase production to match demand as Naturally
Splendid secures new purchase orders”.
Gross profit for the third quarter of 2016 amounted to $375,483 or 30% of sales (2016 YTD: $2,052,219 – 32%) and net
loss was $637,830 (2016 YTD: $210,460). These amounts also represent significant improvements over the 2015 third quarter
gross profit of $38,758 - 19% of sales (2015 YTD: $10,072 - 3%) and net loss of $891,033 (2015 YTD: $3,096,805).
Naturally Splendid CEO Mr. Craig Goodwin states, "We’ve experienced significant growth in gross revenue in 2016,
though bulk sales slowed in the third quarter. With completion of the Company’s final tranche of the private placement, we received
an additional $3.2 million, and that now gives us the working capital to support increased sales and address the production
bottlenecks we have been experiencing. With exports, processing and our retail lines all performing well and sufficient
financial resources to support growth, we can now add additional resources to the promising HempOmega® and cannabinoid
markets.”
Naturally Splendid’s unaudited condensed financial statements and management’s discussion and analysis have been
filed on Naturally Splendid’s profile on the SEDAR website.
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 six innovative divisions: (1) Natera® brand of retail hemp superfood products
currently distributed throughout North America and Asia; (2) Chi Hemp Industries Incorporated (Chii) is selling natural and organic
hemp products through e-commerce (3) PawsitiveFX® brand of pet care products; (4) Simpli Plant-Based Ingredients Division of
plant-derived bulk ingredients including patent-pending HempOmega®; (5) The 12,000-square-foot POS / BPC Facility - which is
managed for Naturally Splendid by POS Bio-Sciences - is positioned to offer commercial-scale custom processing solutions for
biological materials, such as functional foods and natural health ingredients to a wide range of clients (6) hemp-based cannabinoid
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.
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)
Naturally Splendid Enterprises Ltd.
#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, the 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; the ability to complete the sales of all bulk hemp seed purchase orders; 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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