Facility Upgrades Increases Capacity & Certifications
22 Februar 2019 - 2:30PM
NATURALLY SPLENDID ENTERPRISES LTD. (“Naturally Splendid”
or “NSE” or
“Company)(TSX-V:NSP)(OTCQB:NSPDF)(FRANKFURT:50N) is
pleased to announce upgrades to the Company’s manufacturing and
distribution facility are in advanced stages prior to final
inspection for Safe Quality Food (SQF) Level 2 Certification is
scheduled for completion by May 2019. The Company has already
successfully passed the initial desk audit and now awaits final
inspection.
Additionally, the Company is pleased to report
that a previous announced Contract Manufacturer Client is on target
to attain production levels of $1,000,000 annually as forecast in a
previous News Release (August 16, 2018).
Facility Upgrades
In 2018, the Company allocated essential
investment capital to acquire additional manufacturing equipment to
upgrade its facility to SQF Level 2 Certification and build an
R&D test kitchen, thus expanding production capabilities. The
purpose of the facility upgrades is to secure SQF Level 2
Certification. An SQF Level 2 Program is a comprehensive
HACCP-based food safety and quality management certification system
for all sectors of the food industry, from primary production to
transport and distribution. SQF is a Global Food Safety Initiative
(GFSI) benchmarked food safety standard that supports industry or
company-branded products and offers benefits to suppliers and their
customers. Products produced and manufactured under the SQF Code
Certification retain a high degree of acceptance in global
markets.
Naturally Splendid Executive VP of Operations
Mr. Bryan Carson reports, “Our commitment is to provide the highest
quality, safest foods possible. Attaining SQF Level 2 Certification
serves as notice to the food industry, that Naturally Splendid is
prepared to invest in the necessary infrastructure to ensure our
clients are receiving the best possible products. We believe that
certifications of this nature are even more important in the
emerging cannabis markets. The sensitivity around safe, responsible
cannabis products is amplified amongst consumers and certainly by
large retail chains we currently do business with. We are confident
that these certifications, in conjunction with existing business
relationships with national retailers will give NSE a competitive
advantage when cannabis edibles are given regulatory approval”.
Contract Manufacture Client on Target for $1,000,000
Annually
The Company previously announced a 5-year
manufacturing contract estimated at $1,000,000 CDN annually for
projected revenues of $5,000,000 CDN. We are currently reaping the
rewards as we gain momentum in the Private Label and Contract
Manufacturing, along with national distribution of NATERA®."
The expansion of the Company's bars-and-bites
business model continues to expand on its Vertical Integration
Strategy to gain market share in the healthy food sector retail
markets and to build a strong revenue base of recurring sales. The
Elevate Me™ product line, along with its private label clients,
totalled almost $8-million in sales over the past four years, and
will continue to be a key focus as the company rolls out expansion
plans and assigns additional resources to assist in further growth.
It is this existing business base that Naturally Splendid will
leverage as the cannabis edible market continues to evolve.
About Naturally Splendid Enterprises
Ltd.
For more information, please visit:
www.naturallysplendid.com
For more information e-mail info@naturallysplendid.com or call
Investor Relations at 604-673-9573
On Behalf of the Board of DirectorsMr. Douglas Mason CEO,
Director
Contact Information
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
E-mail: info@naturallysplendid.comWebsite:
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, 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, including its
application to obtain a Standard Processing License, 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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