Naturally Splendid Provides Strategic Corporate Update and Receives First Shipment of Proprietary Products HempOmega(TM) & H2Omega(TM)
Burnaby, British Columbia--(Newsfile Corp. - August 22, 2013) - Naturally Splendid Enterprises (TSXV: NSP) (the "Company") is pleased to provide a strategic corporate update and announce the first delivery of HempOmega™ and H2Omega™ .
• Naturally Splendid Receives First Delivery of
Naturally Splendid has received the first delivery of HempOmega™ and H2Omega™ from Boreal Technologies Inc. (formerly Canadian Medical Hemp Inc.) at its new company headquarters in Burnaby, BC. HempOmega™ and H2Omega™ are proprietary, patent pending, powder and aqueous Omega products that utilize nano-encapsulation for increased nutritional benefits. HempOmega™ and H2Omega™ have been developed to deliver a more targeted and sustained release of Omega oils into the bloodstream when compared to existing Omega oil products. Preliminary testing has confirmed that these products have increased bioavailability and sustainability as well as enhanced shelf stability.
Guan Lim, CEO with Boreal states, "We are very pleased to collaborate with Naturally Splendid and are delighted to have reached this milestone in the development of our innovative and unique products. We will continue to work closely with Naturally Splendid to incorporate HempOmega™ and H2Omega™ into a wide variety of food products. The combination of our patent pending science and Naturally Splendid's marketing expertise will launch many successful Omega-based products in a variety of market categories."
• National Research Council of Canada
Naturally Splendid has received the interim report covering the Market Study and Economic Analysis for HempOmega™ prepared by two leading experts in the fields of nutrition and food science. The report, was funded in part by the National Research Council of Canada, identifies market opportunities for HempOmega™ and provides Naturally Splendid with a roadmap to introduce the product on a staged timeline. Naturally Splendid CEO Craig Goodwin states, "The report has provided detailed analysis and recommendations for product opportunities and market penetration for HempOmega™ and H2Omega™. Further product development and comprehensive testing of these products has been initiated at the Naturally Splendid facilities."
• Sustained Growth in the Omega
According to Nutrition Business Journal (NBJ), the global nutrition industry is currently estimated to be approximately $350B1. The global Omega-3 sector products was valued at USD$24.34B in 2011 according to Packaged Facts2. When comparing the results of current natural health product usage to results from Ipsos-Reid surveys conducted in 2005 and 2010, we see significant usage increases in the area of Omega-3. Currently, 56% of Canadians who take natural health products, take or have taken Omega-3 in dosage format, representing an increase of over 211% over a Health Canada survey (conducted by Ipsos-Reid) taken in 2010 and 1,766% growth in consumption since 2005.
"Clearly, Naturally Splendid has chosen a product category that is showing sustained growth," states Mr. Goodwin.
• HempOmega and H2Omega Product Development and Marketing
The Company has created a multifaceted strategy to market HempOmega™ and H2Omega™:
1. Naturally Splendid will continue to develop a variety of proprietary retail products containing HempOmega™ and/or H2Omega™ as ingredients. These products will be carried under the Naturally Splendid banner and in some cases may be private labelled. Naturally Splendid is in the process of finalizing the first generation of products and has already begun initial marketing efforts.
2. Naturally Splendid is introducing HempOmega™ and H2Omega™ to a number of food and beverage companies as a potential ingredient in existing retail lines of well known commercial brands. This Omega enrichment or fortification will enhance the nutritional value and consumer appeal of a wide range of retail food and beverage products.
3. Naturally Splendid has begun to source and secure international ingredient suppliers who will market and distribute HempOmega™ and H2Omega™ to their clientele.
Furthermore, Naturally Splendid is consulting with two independent food processing and development facilities for additional product development using HempOmega™ and H2Omega™ as feature ingredients. The work at the independent facilities is also funded in part by a grant from the National Research Council of Canada.
About Naturally Splendid Enterprises
Naturally Splendid markets a line of hemp-based products to a retail network of over 300 stores throughout British Columbia and into Alberta including; Save On Foods; Urban Fare; London Drugs; Marketplace IGA; and Sobeys. Naturally Splendid's existing products consist of shelled hemp seeds, hemp protein, organic hemp oil, and hemp-based supplements.
Naturally Splendid has received federal and provincial funding towards the research and development of new hemp-based food products, HempOmega™ and H2Omega™, as well as for a strategic study to assess the feasibility of vertical integration. Success with these programs has opened the door to further government funding and support. Naturally Splendid is dedicated to providing the highest quality natural superfoods and delivering them to the general public in a tasty, nutritious manner.
About Boreal Technologies Inc.
Boreal Technologies Inc. ("Boreal") is a privately owned Canadian company located on the University of British Columbia campus in Vancouver, B.C. Boreal provides pilot manufacturing and process/product development for Omega fatty acids with an initial focus on industrial hemp. Boreal licenses the patent-pending formulation technology for the powder and aqueous forms of edible oil named HempOmega™ and H2Omega™. These technologies have been developed from active studies over the past few years and Boreal has been able to identify commercial applications for these technologies in the nutraceutical and pharmaceutical industries. This has led to new applications for selected food products that can incorporate these new forms of industrial hemp and other omega rich oils.
Through a previous business venture, Boreal principals have experience and success with the production and distribution of functional beverages reaching combined sales in excess of US $1 billion in their first four years of operation.
1 Nutrition Business Journal (2011) Global Nutrition Industry Overview. Volume XVI. No. 11/12. Nov/Dec 2011.
For more information contact:
J. Craig Goodwin
CEO & Director
Naturally Splendid Enterprises Ltd.
(NSP - TSX Venture)
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 Naturally Splendid's ability to complete sales of and develop new products of HempOmega™ and H2Omega™. 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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