BURNABY, BC / ACCESSWIRE / April 14, 2015 / Naturally Splendid Enterprises Ltd. ("Naturally Splendid" or the "Company") (TSX VENTURE: NSP) (NSPDF) (50N.F) is pleased to announce that it has signed a letter of intent ("the LOI") with Laguna Blends Inc. Under the terms of the LOI, Laguna and NSP plan to enter into a research, development and manufacturing agreement ("the Definitive Agreement") for the purpose of pursuing mutually beneficial business opportunities in the hemp food products area (the "Proposed Transaction").
Pursuant to the proposed terms of the Definitive Agreement, NSP will develop a new hemp protein formulation enhanced with HempOmega(TM) and flavour for Laguna ("Laguna HempOmega(TM) Infused Protein Products") and Laguna will contribute its expertise as a marketing and sales company in the hemp food products market and the purchase, sale and distribution of the Laguna HempOmega(TM) Infused Protein Products.
The LOI also provides that Laguna will place an initial Purchase Order of $100,000 for the Laguna HempOmega(TM) Infused Protein Products. Laguna anticipates ordering, in its sole discretion, a further $1,500,000 of the HempOmega(TM) Infused Protein Products in the first year of the Definitive Agreement and $4,500,000 of the HempOmega(TM) Infused Hemp Protein Products in the second year of the Definitive Agreement ("Additional Purchase Orders"). Following entry into the Definitive Agreement, there is no assurance that Laguna will complete any or all of the Additional Purchase Orders.
Under the Agreement, NSP will grant to Laguna, (i) a license to place the HempOmega(TM) trade-mark on the Laguna HempOmega(TM) Infused Protein Products, as specified on a white label/private label agreement, (ii) a worldwide exclusive (dependent on Laguna achieving certain minimum sales targets) on these specific formulations (iv) and the right and license to Laguna to sell the Laguna HempOmega(TM) Infused Protein Products. Laguna must meet minimum sales targets (to be agreed upon in the Agreement) in order to retain exclusive rights to the product.
Laguna and NSP anticipate finalizing the Definitive Agreement by the end of May 2015.
Stuart Gray, President, CEO and Director of Laguna Blends Inc. states, "Naturally Splendid is a leader in the research and development, and production of hemp-based superfood products. We are delighted to collaborate with NSP with the development of the hemp protein formulations enhanced with their patent-pending HempOmega(TM). The products that NSP produces for Laguna will be high in quality and unique to what's currently available. Laguna affiliates will be able to retail these products in the United States and Canada."
The completion of the Proposed Transaction pursuant to the R&D Agreement is subject to satisfactory due diligence regarding the business and affairs of the parties, (ii) any necessary contractual and other third party consents, and (iii) all necessary regulatory consents and approvals required pursuant to applicable law or in accordance with the rules of any stock exchange on which the common shares of either party are listed for trading at the relevant time.
Naturally Splendid CEO, Mr. Craig Goodwin states, "We are most pleased to have the opportunity to secure a significant strategic partner to market and distribute HempOmega(TM) infused products and look forward to developing this and in fact multiple business relationships as we continue to monetize the technologies we have recently licensed from Full spectrum Laboratories".
About Naturally Splendid Enterprises Ltd.
Naturally Splendid has an exclusive licensing agreement to market and distribute the full complement of patent pending, plant-based omega products created by Boreal Technologies. The products include HempOmega(TM) and H2Omega(TM), as well as the AlgaeOmega(TM) FlaxOmega(TM), CanolaOmega(TM), and ChiaOmega(TM) plant based omega products. These novel products utilize microencapsulation and are available in both a powder format and an aqueous solution for increased flexibility in ingredient applications and stand-alone products. Additionally, NSP has licensed from FSL progressive cannabinoid extraction and formulation technologies including the world's first water soluble cannabinoid patent.
About Naturally Splendid Enterprises Ltd.
Naturally Splendid has an exclusive licensing agreement to market and distribute, the full complement of patent pending, plant-based omega products created by Boreal Technologies. The products include HempOmega(TM) and H2Omega(TM), as well as the AlgaeOmega(TM) FlaxOmega(TM), CanolaOmega(TM), and ChiaOmega(TM) plant based omega products. These novel products utilize microencapsulation and are available in both a powder format and an aqueous solution for increased flexibility in ingredient applications and stand-alone products. Additionally, the Company has licensed from FSL progressive cannabinoid extraction and formulation technologies including the world's first water soluble cannabinoid patent.
Naturally Splendid's 100% owned NATERA(TM) line of hemp-based superfood products are carried nationwide by Canada's leading health food distributors and a network of retail stores across Canada including major retailers and specialty stores. Naturally Splendid's recently rebranded "NATERA(TM)" line of products includes natural and flavored shelled hemp seeds as well as natural and flavored hemp protein powders.
About Laguna Blends Inc.
Laguna's business is focused on the nutritional health benefits derived from hemp. Laguna has independent affiliates that generate retail sales and have the ability to recruit other affiliates. Laguna's affiliates utilize tools and technology that enable them to build an international business from their own home or while travelling on the road.
The first products to be launched by Laguna are expected to be functional beverages that provide high levels of protein and/or nutrition. Laguna's products are made from high quality hemp protein. Some of the current Laguna products are: (i) hemp coffee - a coffee beverage that contains both whey and hemp protein; and (ii) in the cold beverage category, a unique "just-add-water", fruit-punch nutritional drink featuring hemp protein. In addition, Laguna markets a variety of unique single serving "on the go" hemp protein with various flavors. The hemp proteins are water soluble and can be directly mixed in water or added to milk, almond milk or coconut milk. In addition, the hemp protein can be blended in a shake with fruit. Laguna also plans to offer other product categories in the future. Laguna will market all of the Hemp Omega protein products under the name Laguna Blends and or brand names owned by Laguna. Laguna will sell its products through its independent affiliates in the USA and Canada. Laguna anticipates launching its business by July of 2015.
About POS Bio-Sciences
POS Bio-Sciences offers expertise and service in bioprocessing applied research from bench-top to commercialization scale. POS' focus is process development, analytical services, and custom processing as well as specializing in extraction, fractionation, modification and purification of biobased materials.
All POS Bio-Sciences processes are GMP-compliant and fully supported by quality assurance, commitment to regulatory compliance, and certification to international standards. POS' also offers a suite of support services to assist clients and ensure that project outcomes meet their needs and expectations.
POS Bio-Sciences is a registered business name of POS Management Corp.
About Full Spectrum Labs Limited
Full Spectrum Laboratories, LTD. incorporated in Ireland, is a bioresearch and product development company with operating subsidiaries in Canada and the United States. The company has principally focused on the plant cannabis sativa and has developed numerous technologies and made several discoveries resulting in two granted patents and over 11 patent applications, in just under 5 years. FSL currently concentrates on formulation and extraction technologies; analytical cannabis testing in Canada; advance cannabis plant breeding specializing in CBD expression; and cannabinoid bio-synthesis.
For more information e-mail firstname.lastname@example.org or call 604-673-9573
On Behalf of the Board of Directors
J. Craig Goodwin
Naturally Splendid Enterprises Ltd.
(NSP - TSX Venture; NSPDF - OTCQB; 50N.F)
2435 Beta Avenue
Burnaby, BC, V5C 5N1
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, Naturally Splendid will be successful in developing the Laguna HempOmega(TM) Infused Protein Products , if developed, Laguna will complete any sales of the Laguna HempOmega(TM) Infused Protein 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.
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.
SOURCE: Naturally Splendid Enterprises Ltd.