Naturally Splendid (TSXV:NSP) is pleased to announce the Company has entered into an Exclusive Sales Agreement with Laguna Blends Inc.(TSX-V:LAG) to market and distribute a complete line of CBD formulated, cosmeceutical products that will be launched at the SEOUL FOOD & HOTEL tradeshow in May 2017 as an official delegate in the Canadian Pavilion. Additionally, in an effort to re-establish access to the Korean hemp and value-added ingredients markets NSE has shipped a container of bulk hemp seeds to South Korea on April 14, 2017.
Naturally Splendid CEO Mr. Dave Eto states, “We understand the bulk hemp seed business in South Korea is not what it was in 2016; however, strategically it offers NSE an opportunity to gain access to specific South Korean businesses looking for other value-added ingredients that NSE can provide. NSE will leverage elements of it’s diverse offerings to achieve sales in an extremely competitive market as we continue to identify new countries for export.”
Mr.Dave Eto adds,”Complimentary to this approach is our Exclusive Sales Agreement with Laguna Blends to market and distribute a CBD formulated cosmeceutical line. Naturally Splendid President, Mr. Craig Goodwin will be attending the SEOUL FOOD & HOTEL tradeshow in May 2017 to discuss further opportunities with new and existing clients. These CBD formulated products will augment those presented by Naturally Splendid at the FOODEX JAPAN tradeshow in March 2017.”
Mr.Dave Eto continues,”And to showcase the diversity and unique aspects of NSE, the Company will be presenting HempOmega™, a Korean branded NATERA® hemp seed line and an array of formulated powdered fruit and vegetable ingredients”.
Exclusive Sales Agreement
The details of the Exclusive Sales Agreement with Laguna Blends Inc. is as follows. Naturally Splendid’s wholly owned U.S. subsidiary has signed an exclusive sales agreement with Laguna Blends for a complete suite of CBD formulated cosmeceutical products. The product line is comprised of seven custom formulated, CBD infused products that include anti-aging formulations. The Exclusive Sales Agreement is for a term of three (3) years, provided Naturally Splendid reaches certain cumulative sales volumes and covers the territories of Japan and South Korea, as well as additional countries. The additional countries will be announced on a timely basis as the strategic marketing plan is implemented to cover these multiple territories.
The global skin care industry is currently estimated at $121 billion US and the market demand for CBD products is growing at an expediential rate. The Hemp Business Journal estimates the total U.S. CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources.
South Korea is the 13th largest economy in the world with total imports of agricultural products topping US$25 billion in 2013. The SEOUL FOOD & HOTEL tradeshow offers a tremendous opportunity for exhibiting companies to showcase their products and services in one of the world’s most lucrative markets.
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 six innovative divisions: (1) Natera® brand of retail hemp superfood products currently distributed throughout North America and Asia; (2) Chi Hemp Industries Incorporated (Chii) is selling natural and organic hemp products through e-commerce (3) PawsitiveFX® brand of pet care products; (4) Natera®Ingredients, division of plant-derived bulk ingredients including patent-pending HempOmega™; (5) POS-BPC Facility a 12,000-square-foot facility which is managed for Naturally Splendid by POS Bio-Sciences – is positioned to offer commercial-scale custom processing solutions for biological materials, such as functional foods and natural health ingredients to a wide range of clients;(6) Naturally Splendid USA offers,Natera®CBD brand of retail hemp based cannabinoid nutraceutical and cosmeceutical products and Natera®Skincare brand of retail hemp based cosmeceutical products. Naturally Splendid`s advanced technologies, industry expertise, and strategic partners allow for the creation of customized solutions with a consistent focus on quality and sustainability.
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 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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