VANCOUVER, British Columbia / TheNewswire / March 9th, 2018 -- Naturally Splendid Enterprises Ltd. ("Naturally Splendid" or "NSE") (TSX-V:NSP) (OTCQB:NSPDF) (Frankfurt:50N) announces it has cancelled its previously announced private placement offering for $3.2-million comprising up to 10 million units at a price of 32 cents per unit (see news release dated January 26, 2018).
The Company has determined in light of market conditions that the current offering should be cancelled until further notice.
Naturally Splendid CEO Mr. Douglas Mason states," Management has re-evaluated the current private placement taking into consideration prevailing market conditions. With the recent sale of the BPC facility, the Company feels it does not need to finance at this time. NSE will be opportunistic in assessing another financing for potential acquisitions or accretive growth targets."
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 and non-psychoactive cannabinoid compounds in a broad spectrum of applications.
Naturally Splendid currently has four innovative divisions:
(1)BIOTECHNOLOGY - Focused on three major platforms:
(1)Proprietary HempOmega(TM) encapsulation
(2)Extraction and formulation with Cannabidiol (CBD)
(3)Hemp and plant-based proteins.
(2) CONSUMER PRODUCTS -
- NATERA(R) - brand of retail hemp and superfood products distributed throughout North America, Asia and Europe.
- Prosnack Natural Foods Inc. (Elevate Me(TM)) - lifestyle brand of healthy meal replacement products distributed throughout North America.
- Chi Hemp Industries Incorporated (CHII) - e-commerce platform for natural and organic hemp products.
- PawsitiveFX(R) - topical pet care products.
- NATERA(R)CBD - retail hemp-based cannabinoid nutraceutical and cosmeceutical products distributed in Asia.
- NATERA(R)Skincare - brand of retail hemp based cosmeceutical products.
(3) NATERA(R) Ingredients - bulk ingredients including HempOmega(TM).
(4) Co-Packaging/Toll-Processing - packaging for house-brands (NATERA(R) and CHII) and third-party partners.
For more information e-mail firstname.lastname@example.org or call Investor Relations at 604-673-9573
On Behalf of the Board of Directors
Mr. Douglas Mason
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
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 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.