Naturally Splendid Exceeds Total 2015 Gross Sales by 250% In First Quarter of 2016
VANCOUVER, BRITISH COLUMBIA - (March 31, 2016) - Naturally Splendid Enterprises Ltd. (?Naturally Splendid?) (FRANKFURT:50N) (TSX VENTURE:NSP) (OTC:NSPDF) is pleased to provide the following corporate update.
Naturally Splendid has recorded approximately CAD $1,225,000 in gross sales during the first quarter of 2016, which spans the period from January 1, 2016 to March 31, 2016. In comparison, the Company recorded audited gross annual sales of CAD $235,000 in 2014 and audited gross sales of CAD $310,523 to the end of Q3 2015. The audit for 2015 is currently underway and will be available at the end of April.
Naturally Splendid CEO Mr. Craig Goodwin states, ?We experienced steady growth in gross sales from 2014 to 2015. However, Naturally Splendid has already booked approximately CAD $1,225,000 in just the first quarter of 2016. This represents a new and impressive growth milestone for the Company which we will build on throughout 2016 and into the future?.
The increase in gross sales can be attributed to several factors. Naturally Splendid?s retail lines NATERA® and Pawsitive FX? are showing consistent growth, and the recent acquisition of Chii, which focuses on on-line hemp food sales products, has added to the gross sales. However, the most significant growth has been in the export division of Naturally Splendid where South Korea exports have experienced a very successful start in the first quarter of 2016.
Goodwin adds, ?We are definitely pleased with the start to our exporting to South Korea and believe this to be just the beginning of a rapidly growing opportunity. There is the potential to increase not only the dollar volumes of shelled hemp seed shipped to South Korea, but the opportunity exists to add additional product offerings such as hemp protein, hemp oil and in fact, HempOmega®. We are also not limited to South Korea for exporting our products and are investigating the export of our products throughout Southeast Asia. In the next sixty days we will be attending two world-class food tradeshows as members of a Canadian Trade Delegation being organized by the BC Ministry of International Trade. The first tradeshow is in Singapore in April with the second tradeshow being in South Korea in May. Our expectations are to increase our reach and export opportunities throughout this region?.
Additionally, the Company is pleased to confirm that in Q1 2016 their majority owned subsidiary, POS BPC Manufacturing Corp. ("POS BPC"), completed the preparation/training work to begin normal manufacturing status at this facility and has began manufacturing for a natural health product client. It is anticipated that the POS / BPC facility will add additional revenue to Naturally Splendid in 2016. The 12,000-square-foot POS / BPC Facility -- which is managed for POS BPC by POS Bio-Sciences ? is positioned to offer commercial-scale custom processing solutions for biological materials, such as functional foods and natural health ingredients to a wide range of clients.
VP of Operations Bryan Carson states, "A facility of this quality has the potential to attract world-class clients. It is ISO 9001 certified, has an NHP site license, and is HACCP and cGMP certified. Naturally Splendid is positioned to compete in the rapidly growing food, beverage, cosmetic, pet care and livestock ingredients industries There is abundant opportunity to secure clients for this facility that would generate steady cash flow over the next three to five years?.
In regards to HempOmega®, Naturally Splendid?s proprietary omega ingredient, the Company continues to increase the commercial applications and therefore revenue opportunities through continued research and development. The research and development is being conducted at POS BioSciences specifically for functional beverage applications; through the Saskatchewan Agri-Value Initiative (SAVI) under the Canada-Saskatchewan Growing Forward 2 for ingredient application for products such as breads and nutritional bars; as well as product development at the Alberta Agriculture and Rural Development's Food Science and Technology Center (FSTC) in Brooks, Alberta for application in pet feed. Naturally Splendid VP of Operations Bryan Carson states, ?The products we have formulated for Laguna Blends and the products we are developing with Cocos Pure, are evidence of the opportunities available for HempOmega®. We look forward to capitalizing on the multiple commercial applications for this plant based omega ingredient?.
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