VANCOUVER, British Columbia / TheNewswire / January 9, 2018 -- Naturally Splendid Enterprises Ltd. ("Naturally Splendid" or "NSE") (TSXV:NSP) (OTC:NSPDF) (Frankfurt:50N) is pleased to announce that Mr. Scott Walker has been appointed to the Company's Advisory Board.
Mr. Walker is a senior management consultant with over 30 years' experience in business start-ups, corporate management, government relations, and business development. He has diverse experience in Government Defence, Information Technology, Finance, and Services sectors. Scott spent over 25 years in Ottawa as a lobbyist, contractor, advisor and consultant to the Canadian Federal Government, International Governments and Fortune 1000 Corporations. He has worked on many major crown projects and for a select group of defence clients.
Since 2012, Scott has been Senior Partner of Midpoint Ventures Ltd. and works as a management consultant, primarily within the emerging global Cannabis Industry. He has helped over a dozen medical and recreational cannabis businesses secure capital, licensing and strategic partnerships in Canada, multiple US States, Colombia and elsewhere globally. Scott co-founded the Canadian Medical Cannabis Industry Association (now Cannabis Canada Association) and was a Board Member for 3 years.
Currently, he is a Business Development Advisor with NextLeaf Solutions Inc. (a global extraction service provider), and Global Cannabis Applications Corp. Other recent activities of his include Global PhytoTech Solutions Ltd, One World Pharma SAS. ABcann Global Corp., Aurora Cannabis and CalMedx Cannabis LLC.
Mr. Walker will leverage his expertise to help guide the Company through the regulatory procedures best suited to Naturally Splendid's strategic plan to develop revenue streams from Cannabidiol (CBD) and CBD fortified products. CBD is the part of the cannabis plant that doesn't get you "high" as does THC (Tetrahydrocannabinol) associated with the marijuana side of cannabis sativa. CBD is typically used for health reasons instead of for recreational purposes. However, CBD products can be derived from industrial hemp plants or marijuana plants.
Mr. Scott Walker states, " I have followed Naturally Splendid's development over the past few years. They have effectively executed on their business plan, securing technology, processing capacity and building distribution channels.
I am pleased to join the Advisory Board and look forward to working with management to accelerate NSP's domestic and international growth via established relationships in the MMJ and Cannabinoid sector.
I believe I can add value via my experience and understanding of regulatory environments in many regions globally and specifically in operating lawfully within Canada.
2018-2020 will be a pivotal time for Canada and NSE; as CBD continues to gain acceptance and legal regulation in more than 25 countries around the world.
"Naturally Splendid CEO Mr. Douglas Mason states, "I am pleased to announce Scott as my first selection to our Advisory Board. His expertise, experience and network as it relates to the Medical Marijuana (MMJ) and hemp sector will be invaluable as we explore opportunities to expand our operations and reach, relating to emerging CBD markets. Additionally, Scott's expertise in the evolving regulatory environment will be of utmost value as Canadian MMJ and hemp regulations undergo significant revisions in 2018 as announced by Prime Minister Trudeau. His extensive experience as a lobbyist in Ottawa is our assurance that we will have the necessary intel to develop multiple strategies and revenue streams as it pertains to MMJ and hemp extracts & derivatives. I personally look forward to working with Scott in the area of hemp extract beverage fortification whether that be our proprietary HempOmega(TM) and hemp protein isolate, or CBD fortified beverages. As with all our endeavors in the CBD space, Naturally Splendid will be diligent in proceeding within the regulations in all regions and that includes Canada".
In an article from WholeFoods Magazine in 2018 Sean Murphy, Founder, Hemp Business Journal,offered his opinions on where hemp is heading in the coming year. Hemp Business Journal estimates the hemp industry will grow to $1.8 billion in sales by 2020, led by hemp food, body care and CBD-based products. The data demonstrates that the hemp industry is growing quickly at 22% 5-year CAGR and being led by food and body care products.
This is a big year for hemp-derived CBD, especially in Canada. The country is on its way to legalizing CBD nationwide in 2018. Some expect sales of this product that don't get you high will reach $3 billion in the next five years. Canada has proposed changes to hemp regulations allowing for the extraction of CBD, limiting to 10 ppm the amount of psychoactive THC they can contain.
Naturally Splendid President Mr. Craig Goodwin states, "The addition of Scott to our Advisory Board is a strategic advancement to accelerate the effectiveness of the expertise that has been assembled within Naturally Splendid. With Scott in place we can begin the necessary regulatory procedures to maximize the emerging CBD opportunities as it evolves regulatory-wise in Canada as well as globally. Our objective is to create superior hemp and hemp extract products that will be distributed through our existing distribution channels in Canada, South Korea, Japan, Germany and most recently Australia".
- The Hemp Business Journal estimated that the 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. That's a 700% increase from 2016.
In 2015, the market for consumer sales of hemp-derived CBD products was $90 million, plus another $112 million in marijuana-derived CBD products which were sold through dispensaries - bringing a total CBD market to $202 million last year.
- The hemp CBD market has reached an estimated retail value of $130 million in the United States alone, according to a 2016 market estimate by Vote Hemp and the Hemp Business Journal. A spokesman for Vote Hemp also estimated there are likely 50-100 hemp cannabidiol brands, along with hundreds more growers and processors that focus on hemp-based CBD
Grant of Stock Options
Naturally Splendid has granted 1,701,232 stock options to advisors, directors, senior management and consultants. The options were granted for a period of five (5) years, expiring January 7, 2023. The stock options will vest over two years and each stock option will allow the holder to purchase a common share of Naturally Splendid at an exercise price of $0.31.
In connection with Mr. Mason's appointment as Chief Executive Officer, subject to exchange approval, Naturally Splendid will be issuing 500,000 common shares to Mr. Mason of which 250,000 shares will be issued immediately and 250,000 shares will be issued on January 1, 2019 subject to retaining position as CEO.
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 and non-psychoactive cannabinoid compounds in a broad spectrum of applications.
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 complete the acquisition of Prosnack, complete all or any of the proposed private placement financing, 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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