BURNABY, BRITISH COLUMBIA--(Marketwired - July 14, 2014) -
In a press release dated June 26, NSE incorrectly identified Boreal Technologies' role in a licensing opportunity for cannabinoid related technologies. The corrected information is provided below. We apologize for any confusion this may have created.
Naturally Splendid Enterprises (the "Company") (TSX VENTURE:NSP) (OTC PINK:NSPDF) (FRANKFURT:50N) is pleased to announce that the Company is now evaluating multiple opportunities in the commercialization of industrial hemp and extracted cannabinoids for the creation of branded nutraceutical products. In addition to the already established revenue streams from the NATERA(TM) hemp based superfood retail line and its developing biotech food division in partnership with Boreal Technologies, the Company is optimistic with the multitude of opportunities in the nutraceutical cannabinoid market.
Naturally Splendid is currently in advanced stage discussions with Full Spectrum Laboratories, Ltd. out of Dublin, Ireland, regarding licensing of new nutraceutical cannabinoid technologies. These nutraceutical cannabinoid technologies include Cannabidiol (CBD) known for its multiple therapeutic applications without the "stoned" effect of THC found in marijuana. This strategy is restricted to the United States until other jurisdictions explicitly permit cannabinoid therapies.
CEO Craig Goodwin states, "We are developing business strategies designed to investigate, evaluate and where there is a strong business case, develop additional products and markets unlocking all potential revenue opportunities within the industrial hemp crop. The area of nutraceutical cannabinoids is increasingly interesting to Naturally Splendid, especially when you consider the advanced science being developed by Full Spectrum. This potential creation of a new relationship with Full Spectrum to include Naturally Splendid's branded nutraceutical cannabinoid products legally derived from industrial hemp, will allow Naturally Splendid to participate more directly in this nutraceutical market in the United States."
Charlie Brink, Chairman of Full Spectrum Laboratories states, "We're excited to see Naturally Splendid explore the opportunities available in the nutraceutical cannabinoid market space. We look forward to progressive dialogue on potential business opportunities for our companies in licensed jurisdictions. What we've discovered is that Cannabis sativa (industrial hemp) is a wholly misunderstood plant. Our team has identified compounds within this plant that have great nutraceutical and nutritional properties. Many of these have translated into unique ingredients that most people haven't seen before. We've spent a pain-staking amount of time assembling the right kind of talent to bring these products to market and execute our business strategy. There is now an exciting opportunity before us to be able to take the science and the research that has been conducted in the laboratory in the past few years and create products that we can bring to market that will help people and enhance their lives."
Cannabis Sativa is a species which includes industrial hemp and marijuana. Cannabis Sativa is used in food, nutraceutical products as well as medicinal applications. Both plants share many of the same active chemicals and cannabinoids. A prominent cannabinoid present in industrial hemp is Cannabidiol (CBD) known for its multiple therapeutic, nutraceutical applications. More specifically, Cannabidiol, or CBD, is a compound in industrial hemp that potentially has significant medical benefits, but does not make people feel "high" and can actually counter the psychoactivity of THC. The reduced psychoactivity of CBD-rich cannabis may make it an appealing nutraceutical product for individuals seeking anti-inflammatory, anti-pain, anti-fungal, anti-bacteria and/or anti-spasm effects without disconcerting lethargy or dysphoria.
Naturally Splendid Co-founder Bryan Carson states, "There has been much in the news recently surrounding the functional, nutraceutical and pharmaceutical applications of the multiple cannabinoids prevalent in industrial hemp. Changing legislation in the United States is most definitely a driving factor in the increased attention that has been focused on the cannabinoid opportunities."
About Full Spectrum
Full Spectrum Laboratories, Ltd., based out of Dublin, Ireland, is a privately-held biotechnology company specializing in the scientific research, development and commercialization of its technologies and services. Full Spectrum owns a portfolio of patented and patent-pending cannabinoid-based technologies including breeding, analytical services, extraction and formulation. Full Spectrum strategically identifies global partners for licensing opportunities in the pharmaceutical and nutraceutical markets. Our technologies enable companies to have access to pharmaceutical-grade cannabinoids for the development of cannabinoid based therapeutics, industrial solutions and consumer goods.
Full Spectrum has licensed certain formulation technologies focused on omega-fatty acids and proteins to Boreal Technologies. This Agreement will continue separately and independently of any license agreement Full Spectrum may enter with Naturally Splendid for cannabinoid formulation technologies.
About Boreal Technologies
Boreal Technologies Inc., located on the University of British Columbia campus in Vancouver, B.C., is a specialized product solution and service provider with customers in North America and Asia. Boreal offers a comprehensive range of product development and analytical testing services to the nutraceutical, agricultural and consumer product industries. Our patent-pending process technologies enable companies to bring new; value-added products to market that are enhanced with scientifically-proven, superior functional ingredients.
About Naturally Splendid Enterprises Ltd.
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.
Naturally Splendid has an exclusive sales agreement to market and distribute, in North America, 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 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.
J. Craig Goodwin, CEO & Director
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. Such factors include, among other things: risks and uncertainties relating to the successful testing and evaluation H2Omega(TM) and HempOmega(TM) by Calico. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Naturally Splendid Enterprises Ltd.J. Craig Goodwin
CEO & Director
(604) 570-0934 (FAX)
Source: Naturally Splendid Enterprises Ltd.