NSP Receives $924,000 Purchase Order for Hemp Food Products from Korean Company
Naturally Splendid Receives $924,000 Purchase Order
for Hemp Food Products from Korean Company
VANCOUVER, BRITISH COLUMBIA - (February 3, 2016) - Naturally Splendid Enterprises Ltd. (“Naturally Splendid”) (FRANKFURT:50N) (TSX VENTURE:NSP) (OTC:NSPDF) is pleased to announcethat it has received an initial purchase order for $924,000 CDN from the Korea Beauty & Health Care Co., Ltd. based in South Korea. The first shipment of 20 metric tonnes of hulled hemp seeds leaves the Naturally Splendid distribution centre in Burnaby, BC on February 5, 2016 and is destined for the Port of Busan in South Korea.
Korea Beauty & Health Care Co., Ltd. (KBH) was established in 2003 and has a successful track record bringing a variety of products to the South Korean marketplace in the area of cosmetics, household items, functional foods, and medical equipment. KBH was certified as a food manufacturer and cosmetic manufacturer in 2015 and is also a product developer with its own R&D facility. The Company currently employs 62 people and generated revenue of approximately 12,000,000,000 Won ($14,000,000 CDN) in 2015 via online shopping, offline shopping, traditional retail and TV shopping channels. KBH will be marketing the NATERA® brand through online shopping, offline shopping, traditional retail and TV shopping channels.
Craig Goodwin, CEO of Naturally Splendid Enterprises, reports, “This initial order is secured by an irrevocable letter of credit which is a recognized financial instrument for international business. All in all, this is a significant day in the development of Naturally Splendid. As I’ve stated on several occasions, much of 2015 was focused on acquiring technology and processing capacity as well as the personnel to execute our vision. I believe that 2016 will be the year when our efforts will be translated into multiple revenue streams. The South Korean opportunity secures us a foothold in the growing Asian market. We see increased interest for our hemp food products in Asia and we are in advanced discussions with several other groups in Asia and anticipate additional purchase orders from the region in due course”.
“I would also like to thank the Canadian government for their support as we expand our sales efforts in Asia. Naturally Splendid is now considering attending trade missions as a part of a Canadian contingent in Singapore and South Korea over the next several months to establish new business contacts”, adds Goodwin.
South Korea’s population is 49.3 million and, in terms of market size, the nation’s economy ranks 11th in the world by nominal GDP and 13th by purchasing power parity. As seniors become a larger segment of the population, the South Korean government is increasingly concerned about keeping them fit and in good health. Government campaigns promoting healthy living and eating have led to increased consumption of healthy food items.
About Naturally Splendid Enterprises Ltd.
Naturally Splendid is a multifaceted biotechnology 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) Natera® brand of retail hemp superfood products currently distributed throughout North America; (2) Chi Hemp Industries Incorporated (Chii) is selling natural and organic hemp products through e-commerce (3) PawsitiveFX® brand of pet care products; (4) BCI Division of plant-derived bulk ingredients including patent-pending HempOmega®; and (5) hemp-based cannabinoid nutraceuticals. The Company's advanced technologies, industry expertise, and strategic partners allow for the creation of customized solutions with a consistent focus on quality and sustainability.
For more information please e-mail info@naturallysplendid.com or call 604-673-9573
On Behalf of the Board of Directors
J. Craig Goodwin
CEO, Director
Contact Information
Naturally Splendid Enterprises Ltd.
(NSP – TSX Venture; NSPDF – OTCQB; 50N Frankfurt)
2435 Beta Avenue
Burnaby, BC, V5C 5N1
Phone: (604) 570-0902
Fax: (604) 570-0934
E-mail: info@naturallysplendid.com
Website: www.naturallysplendid.com
Forward-Looking Statements
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, 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.
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