VANCOUVER, British Columbia, Nov. 07, 2018 (GLOBE NEWSWIRE) -- Naturally Splendid Enterprises Ltd. (“Naturally Splendid” or “NSE” or “The Company”) (NSP.V) (NSPDF) (50N.F) is pleased to provide a corporate update to recent HempOmega® advancements.
Developed by Naturally Splendid, HempOmega® is a proprietary homogenous powder created from microencapsulated hemp seed oil. It is a high-quality and sustainable omega fatty acid alternative ingredient to fish oil for omega fortification. Due to its unique powder format, it solves the formulation challenge manufacturers face when trying to add omegas to existing products,and has proven to increase the bioavailability of omega essential fatty acids.
- Naturally Splendid USA Ltd. and NeutriSci International Corporation (“NeutriSci”) have extended and added binding terms to the Company’s previously announced letter of intent. This new binding letter of intent details the mutual agreement to produce a sublingual HempOmega® tablet using NeutriSci's intellectual property and technology, and as well, allows for the addition of a sublingual tablet combining HempOmega® and CBD (cannabidiol), subject to licensing, regulatory body and both parties’ approvals.
- Further to NSP's letter of intent with Crop Infrastructure Inc. (“CROP”) (see the Company’s news release of August 14, 2018) to provide costs for white labelled hemp seed, protein powder and hemp oil, with some of these products containing HempOmega®, and which CROP will be able to purchase using its brands The Hempire Company and Tiffany CBD. As part of the LOI, CROP plans to utilize Naturally Splendid's proprietary HempOmega® powder in its CannaDrink functional beverage line currently under development. CROP’s new cannabis-infused line of soft drinks is reported by CROP to be a zero calorie, non-GMO, ketogenic-friendly line of soda pop, tea, and coffee variations (see CROP’s news release of October 3, 2018).
- Naturally Splendid Enterprises Ltd. has signed an exclusive sales agreement with Sipp Industries Inc. (“Sipp”) to sell HempOmega® as an ingredient to beer manufacturers in Colorado, Illinois, Indiana, California and Texas. As well, Sipp has received approval in the states of Colorado and Illinois to include HempOmega® as an ingredient in their own custom-formulated hemp beer including their Major Hemp Brown Ale and newly developed Major Hemp H-IPA brands, which have been distributed to multiple locations throughout Colorado and Illinois.
- NSE has already formulated and tested HempOmega® infused protein, and energy snack bar/ bite products. The Company expects to launch these products in early 2019 under our house-brands and for private label clients.
- NSE has assembled a team comprised of management and industry wise advisory board members to further the development of bio-tech opportunities for the HempOmega® in North America and Internationally.
- NSE continues to work diligently towards full commercialization for HempOmega® to service global markets. In recent months, the Company has held discussions with a number of parties from countries around the world interested in utilizing HempOmega® in a number of products, as well as had discussions regarding licensing opportunities.
Naturally Splendid CEO Douglas Mason states, “We are very pleased with the recent advancements made in the marketing of our HempOmega®. Positioning this proprietary product for future growth, HempOmega® is now being utilized in consumer products in five categories, including beer, functional beverages, sublingual tablets, proteins and medical-grade formulations. There’s further growth expected in the hemp-infused edibles market, according to ArcView Research and BDS Analytics report (June 2nd, 2017) which indicated consumer spending on cannabis-infused food and beverages reached approximately $1 billion in 2017 between the United States and Canada. ArcView reports that edibles could be worth over $4.1 billion by 2022, a figure that undeniably attracts food and beverage producers globally with an eye to the post-legalisation future. NSE will continue to work towards new opportunities for HempOmega® as a food supplement and a source of additional nutritional benefit in both new and existing products.”
In 2017, Proprietary research from the Global Organization of EPA and DHA Omega-3s (GOED) showed the highest supplement use is occurring in the United States, China and Australia. Statistica 2018 estimated the global supplement market for omega-3 supplements in 2025 will reach US$57 billion, compared to $33 billion in 2016. This is indeed a steep growth for an individual supplement segment.
For more information on HempOmega®, please visit: www.hempomega.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 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.
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