VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 28, 2014) - Naturally Splendid Enterprises Ltd. (the "Company") (50N.F)(TSX VENTURE:NSP)(NSPDF) is pleased to announce that Naturally Splendid's 100% owned Colorado subsidiary, Naturally Splendid Enterprises USA Limited ("Naturally Splendid USA"), anticipates that it will be launching a commercially ready suite of hemp based cannabinoid formulated nutraceutical products in the United States in early 2015 (the "Naturally Splendid USA Products") developed by Full Spectrum Laboratories, Ltd. ("FSL"). Under the terms of a letter of intent between Naturally Splendid USA, and FSL (see news release dated October 7, 2014), Naturally Splendid USA will have a right to manufacture and sell the Naturally Splendid USA Products upon entering into the definitive license agreement with FSL.
The initial suite of Naturally Splendid USA Products will include: a) micro-encapsulated hemp oil drops with high cannabidol ("CBD") expression; b) CBD based soaps, lip balms and skin creams; and c) Hemp extracted, cannabinoid based functional beverages. Future products currently being developed include topical pain ointments, a hemp-derived CBD supplement and sun block lotions.
"The opportunity to commercialize cannabinoid formulated products in the US is rapidly expanding. The formulated cannabinoid products market in the US alone exceeded $300,000,000 US in 2013 and is anticipated to grow for the foreseeable future according to Arcview Market Research," states Company CFO Chuck Jenkins.
According to the 2013/2014 "The State of Legal Marijuana Markets - 2nd Edition" published annually by Arcview Market Research (the leading American market research firm providing quantifiable research on the United States MMJ industry) the following is true:
1. The legal American MMJ 2013 market value is assessed at $1.43 billion. The national legal market is projected to grow 64% in 2014 from current levels to $2.34 billion by the end of 2014.
2. Alternative methods of consumption, infused product manufacturing (MIPS), is approaching 25% of all related sales of legal marijuana in 2013 ($357 million) from approximately 5% first reported in 2011. This growth trend is expected to continue to expand into the foreseeable future.
3. Consumer interest in Cannabidiol (CBD)-based products is soaring. Promising CBD research and beneficial patient experience has caused demand to rise sharply. CBD supplies are limited because of legal and technological constraints, which keep prices elevated. Some companies see an enormous opportunity in attempting to solve the CBD sourcing puzzle.
Cannabidiol (CBD) is arguably becoming the most sought-after cannabis compound due to its medicinal and nutraceutical properties:
- Neurological protection
Bryan Carson, Naturally Splendid's Vice President of Operation points out, "Naturally Splendid USA's products will be manufactured in the United States specifically for the American market where hemp-extracted cannabinoid based products are already allowed. Initially, products will be distributed using a direct to consumer model via an online virtual storefront currently under construction."
Naturally Splendid's CEO Craig Goodwin states, "The Naturally Splendid USA Products that will be introduced to the American market early next year utilize FSL's patented water-soluble cannabinoid formulation technology. It is important to point out that none of the hemp-based cannabinoid products will contain tetrahydrocannabinol ("THC"). The product development focuses primarily on utilizing water-soluble cannabidiols (CBD's) because of the health properties associated with this hemp-extracted cannabinoid."
The entry into the definitive license agreement with FSL is subject to legal due diligence and TSX Venture Exchange acceptance.
About Naturally Splendid Enterprises Ltd.
Naturally Splendid has an exclusive sales agreement to market and distribute, in North America, the full complement of patent pending, plant-based omega products created by Boreal Technologies. The products include HempOmega™ and H2Omega™, as well as the FlaxOmega™, CanolaOmega™, and ChiaOmega™ 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.
Naturally Splendid's 100% owned NATERA™ 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™" line of products includes natural and flavored shelled hemp seeds as well as natural and flavored hemp protein powders.
About Full Spectrum Laboratories Ltd.
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.
On Behalf of the Board of Directors
J. Craig Goodwin, CEO, Director
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. Such factors include, among other things: risks and uncertainties relating to Naturally Splendid's ability to enter into a definitive agreement with FSL. 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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