VANCOUVER, British Columbia, Oct. 11, 2018 (GLOBE NEWSWIRE) —Naturally Splendid Enterprises Ltd. (TSX-V: NSP)(OTCQB: NSPDF) (“Naturally Splendid” or “NSE” or the “ Company” or “Naturally Splendid USA”) is pleased to provide a further update on its previously announced non-binding Letter of Intent (“LOI”) between Naturally Splendid USA Ltd. and NeutriSci International Inc. (“NeutriSci”) (TSX-V: NU, OTCQB: NRXCF, FRANKFURT: 1N9), together the (“Parties”).
Naturally Splendid USA and NeutriSci are pleased to announce the extension and addition of binding terms to the previously announced LOI. This new binding LOI signifies the successful completion of an agreement to produce a sublingual HempOmega® tablet using NeutriSci’s IP and technology, as well as a sublingual tablet combining HempOmega® and CBD (cannabidiol). A definitive agreement will follow in the coming weeks.
The definitive agreement will include at least two NeutriSci formulated sublingual tablets, including:
- a CBD/HempOmega® fortified sublingual tablet; and
- a HempOmega® fortified sublingual tablet.
Both parties have agreed to expand the initial scope of distribution. The newly developed HempOmega® sublingual tablet will now be available through Naturally Splendid’s partner distribution networks in South Korea, Japan and Australia.
In addition, Naturally Splendid will commence distribution of NeutriSci’s neuenergy® in the Australian market. Neuenergy® is a revolutionary energy tab designed to deliver enhanced focus and mental clarity with no sugar, no calories and no crash associated with typical energy products.
Production will begin on the full spectrum HempOmega® tablets to be sold in South Korea, Japan and now Australia, and will be manufactured at a licensed partner facility in Northern California. Additionally, as regulations allow, Naturally Splendid will begin marketing the CBD / HempOmega® sublingual tablets in regions where CBD (cannabidiol) products are approved for sale.
Doug Mason, CEO of Naturally Splendid commented: “This is yet another significant milestone for NSE’s proprietary HempOmega®, the micro-encapsulated hemp seed oil ingredient that continues to excel in the product formulations it was intended to enhance. We have been eagerly developing this product with NeutriSci for sale in international territories, and executing this extended LOI will accelerate our entry to these markets, as well as allow for new formulations to be launched rapidly. Accessing our already established distribution network gives NSE and NeutriSci an advantage most companies are still striving to achieve. We anticipate a swift and timely closure to the definitive agreement and will provide updates in short order. NSE would like to thank NeutriSci for their commitment and contribution to producing high-quality, innovative products, that we are excited to be co-producing.”
NeutriSci’s CEO, Glen Rehman commented, “This new arrangement brings us a final step closer to introducing and establishing a one-of-a-kind HempOmega® product into the Asian and Australian marketplace. This ground-breaking product becomes accessible to millions of potential users and sets the stage for further expansion into the region. We look forward to the continued international diversification and execution of our expansion plans as we move forward with this product and others that incorporate our technology and IP!”
About NeutriSci International Inc.
NeutriSci specializes in the innovation, production and formulation of nutraceutical products. Established in 2009, NeutriSci’s is building sustainable sales models with Convenience, Chain Drug, and Mass Market and Supermarket retailers for neuenergy®, the Company’s natural energy and focus supplement that has at its core, the beneficial effects of blueberries.
Neuenergy® contains a unique patented combination of blueberry extract (pterostilbene) and naturally derived caffeine, and is a revolutionary energy tab designed to deliver enhanced focus and mental clarity with no sugar, no calories and no crash associated with typical energy products. To find out more about neuenergy®, please visit www.getneuenergy.com.
For more information, please visit: www.neutrisci.com.
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 cannabinoid compounds in a broad spectrum of applications.
For more information e-mail [email protected] 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
E-mail: [email protected]
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.
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