Naturally Splendid Enterprises Ltd. (“Naturally Splendid”, “NSE” or “the Company”) (FRANKFURT:50N) (TSXV:NSP) (OTC:NSPDF) is pleased to announce that Naturally Splendid Director and President of the Canadian Hemp Trade Alliance (CHTA), Mr. Russ Crawford, was a key speaker at the recent Senate hearing on May 23rd, 2018, to review hemp and its inclusion under Bill C-45 the Cannabis Act.
Representing the CHTA, Mr. Crawford acknowledged the fine work of the Marijuana Task Force in developing Proposed Regulations for the new Act which include important changes and reduced regulation for the production, processing and commercial sale of industrial hemp. The CHTA spoke in favour of Senate support for Bill C-45 which will provide a less regulated commercial environment for the hemp industry in Canada.
Two key points were made by Mr. Crawford. Firstly, the removal of hemp and its derivatives from the list of Controlled Substances, an unnecessary and inaccurate characterization of hemp which has created public misconception and stigmatized reluctance to consumption. Secondly, the expansion of opportunity in the hemp industry in the form of “whole plant use”. Passage of the Bill will enable hemp farmers, processors and scientists to conduct research and product development on the full spectrum of cannabinoids present in the leaves and flowers of the plant adding to the current crop value of seed and fibre.
“The hemp industry still has a lot of work to do in the development of food, fibre, feed and natural health product markets and this legislation opens the door for all stakeholders”, stated Crawford. “Similar to the establishment of the enabling legislation of the Industrial Hemp Regulations Act in 1997, passing this Bill restates Canada’s global leadership in the industrial hemp market.”
The sale of hemp products from Canada has grown from zero in 1997 to $180 million in 2017. Passage of this Bill would be viewed as a positive statement to investors and consumers inviting an influx of capital expansion to the hemp sector. The CHTA forecasts total sales could reach $1 billion by 2023.
Naturally Splendid is well positioned to act on this pending legislation by adding new, formulated products that include cannabinoids in the areas of human food, cosmetics, health and wellness products and pet foods and health treatments. Bryan Carson, Naturally Splendid’s Executive V.P. of Innovation & Marketing, adds, “We have been hard at work developing formulations and specific targeted products which will contain cannabinoids derived from hemp. This is a new and exciting opportunity for our company to achieve our goals in the creation of nutritious functional foods made from hemp.”
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:
i.Proprietary HempOmega(TM) encapsulation
ii.Extraction and formulation with Cannabidiol (CBD)
iii.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.
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