Naturally Splendid Closes Initial Tranche For $1,628,650

VANCOUVER, BC / ACCESSWIRE / May 29, 2015 / Naturally Splendid Enterprises Ltd. (“Naturally Splendid”) (NSP – TSX Venture) (NSPDF – OTCQB) (50N.F – Frankfurt) is pleased to announce that it has closed the initial tranche of its previously announced private placement financing by issuing a total of 3,257,300 units (the “Units”) for gross proceeds of $1,628,650.

Each Unit is comprised of one common share of Naturally Splendid and one-half of one common share purchase warrant (“Warrant”), with each whole Warrant entitling the holder to purchase one additional common share at $0.75 per share for a period of two years from the date of the issue. Naturally Splendid will have the right to accelerate the expiry date of the Warrants if, at any time, the average closing price of Naturally Splendid’s common shares is equal to or greater than $1.00 for 10 consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 30 days after Naturally Splendid issues a news release announcing that it has elected to exercise this acceleration right.

In connection with the initial tranche of the financing, Naturally Splendid paid finders a cash commission totaling $36,532 and issued a total of 73,064 finder’s warrants. Each finder’s warrant is on the same terms as the Warrants.

The securities issued under the financing will be subject to a hold period expiring on September 29, 2015 pursuant to applicable securities laws and the rules of the TSX Venture Exchange.

Proceeds of the financing will be used for product development and working capital and corporate purposes.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of Naturally Splendid’s securities in the United States.

About Naturally Splendid Enterprises Ltd.

Naturally Splendid has an exclusive licensing agreement to market and distribute, the full complement of patent pending, plant-based omega products created by Boreal Technologies. The products include HempOmega(TM) and H2Omega(TM), as well as the AlgaeOmega(TM) FlaxOmega(TM), CanolaOmega(TM), and ChiaOmega(TM) plant based omega products. These novel products utilize microencapsulation and are available in both a powder format and an aqueous solution for increased flexibility in ingredient applications and stand-alone products. Additionally, Naturally Splendid has licensed from FSL progressive cannabinoid extraction and formulation technologies including the world’s first water soluble cannabinoid patent.

Naturally Splendid’s 100% owned NATERA(TM) line of hemp-based superfood products are carried nationwide by Canada’s leading health food distributors and a network of retail stores across Canada including major retailers and specialty stores. Naturally Splendid’s recently rebranded “NATERA(TM)” line of products includes natural and flavored shelled hemp seeds as well as natural and flavored hemp protein powders.

About POS Bio-Sciences

POS Bio-Sciences offers expertise and service in bioprocessing applied research from bench-top to commercialization scale. POS’ focus is process development, analytical services, and custom processing as well as specializing in extraction, fractionation, modification and purification of bio based materials.

All POS Bio-Sciences processes are GMP-compliant and fully supported by quality assurance, commitment to regulatory compliance, and certification to international standards. POS’ also offers a suite of support services to assist clients and ensure that project outcomes meet their needs and expectations.

POS Bio-Sciences is a registered business name of POS Management Corp.

About Full Spectrum Labs Limited

Full Spectrum Laboratories, LTD. incorporated in Ireland, is a bioresearch and product development company with operating subsidiaries in Canada and the United States. The company has principally focused on the plant cannabis sativa and has developed numerous technologies and made several discoveries resulting in two granted patents and over 11 patent applications, in just under 5 years. FSL currently concentrates on formulation and extraction technologies; analytical cannabis testing in Canada; advance cannabis plant breeding specializing in CBD expression; and cannabinoid bio-synthesis

For more information 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.F Frankfurt)
2435 Beta Avenue
Burnaby, BC, V5C 5N1
Phone: (604) 559-8051
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, but not limited to, Naturally Splendid’s ability to complete the balance private placement financing. 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.

SOURCE: Naturally Splendid Enterprises Ltd.  

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