Naturally Splendid Reports First Quarter Results for March 31, 2019

(via TheNewswire)

Vancouver, British Columbia, May 29, 2019 - Naturally Splendid Enterprises Ltd. ("Naturally Splendid", "NSE" or "the Company") (FRANKFURT:50N) (TSX-V:NSP) (OTC:NSPDF) announces its unaudited financial results for the three months ended March 31, 2019. All amounts are in Canadian dollars and are prepared in accordance with International Financial Reporting Standards.

Naturally Splendid recorded a net loss from continuing operations of $1,103,965 for the three months ended March 31, 2019, compared to a net loss from continuing operations of $1,548,493 during the three months ended March 31, 2018. The decrease in net loss was mainly due to Share-based payments not being issued for the three months ended March 31, 2019 whereas the Black-Sholes value of Share-based payments for the three months ended March 31, 2019 were valued at $443,698. Revenues increased by 141% over the same period last year and Gross Profit Margins remained consistent at 32% of sales. Selling and distribution costs of $275,942 increased slightly due to the increase in sales. Administrative expenses decreased to $1,085,616. The increases in Sales are mainly due to the Prosnack growth in its private label bars and bites business.

Naturally Splendid recorded sales of $772,803 during the three months ended March 31, 2019, compared to $320,827 in for three months ended March 31, 2018. The Company's sales increased by approximately $452,000. The Company continued to experience increases in other branded products such as Natera Sport(TM), Natera FX(TM) and Hemp and other branded products which accounted for approximately $103,000 in increased sales and the Prosnack business accounted for approximately $349,000 in increased sales compared to the three months ended March 31, 2018.

Cost of Sales during the three months ended March 31, 2019 was $523,269 compared to $217,523 in three months ended March 31, 2018. The Company continues to maintain its 32% gross margin percentage, thus the three months ended March 31, 2019 and the Company continues to focus on its higher margin products and new commercial opportunities.

Gross profits for the three months ended March 31, 2019 was $249,534 (32.3% of sales) compared to $217,523 (32.2%) for three months ended March 31, 2018 The best market opportunities for NSE have been both domestic and new international destinations along with Prosnack Natural Foods Inc. products.

CEO Mr. Douglas Mason states," We continue to accomplish strategic objectives by increasing our processing capacity as well as has attained an SQF (Safe Quality Food) Level2 certification for our Bar Makers Division. We are continually improving efficiencies and increasing margins, and this continues to be a major focus for our growing company. We continue to see the effect of our strategies in this latest quarter and continue the trend into the second quarter of 2019, and we anticipate recently announced sales and manufacturing contracts to bolster revenues moving forward.

We continue to follow the licensing process for our Dealer's License, which has now been changed to a Processors License under the revised Cannabis Act. The reputation we are earning in the market as a premium food manufacturer, in combination with our hemp and extraction expertise, is sure to position the company favorably as CBD (cannabidiol) regulations continue to evolve here in Canada and in fact, globally. These initiatives firmly position the Company for CDB- fortified manufacturing and production capabilities, as set forth in our strategic plan once newly anticipated Canadian legislation allows.

Private Label and co-packing and most notably contract manufacturing continues to increase over and many clients have begun signaling the demand for increased production as well and in addition have expressed interest for CBD fortified food products, anticipating favorable regulations. These initiatives firmly position the Company for CDB- fortified manufacturing and production capabilities, as set forth in our strategic plan."

In closing, we believe 2019 will continue the growth seen in the latest 2 quaters, as the foundation has been laid to provide maximum shareholder value in 2019 and beyond."

Naturally Splendid's financial statements can be viewed at www.SEDAR.com.

About Naturally Splendid Enterprises Ltd.

Naturally Splendid is a biotechnology and consumer products 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 cannabinoid compounds in a broad spectrum of applications.

For more information e-mail info@naturallysplendid.com or call Investor Relations at 604-673-9573

On Behalf of the Board of Directors

Mr. Douglas Mason

CEO, Director

Contact Information

Naturally Splendid Enterprises Ltd.

(NSP - TSX Venture; NSPDF - OTCQB; 50N Frankfurt)

#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, 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, including its application to become a Licensed Dealer, 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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