Naturally Splendid (TSXV:NSP) is pleased to announce that Wahupta Ventures Inc. (“Wahupta”) has accelerated its subscriptions for the second and third tranche under the previously announced cooperation agreement (the “Cooperation Agreement”) whereby Wahupta has committed to invest up to $2,000,000 (the “Investment”). Wahupta has subscribed for $350,000 at $0.18 per share in lieu of completing two tranches over an extended period of time at a price of $0.27 per share. These proceeds will be used to advance our new application for a Processing License under the new Cannabis Act and for working capital. The fourth and final tranche under the Cooperation Agreement will consist of the remaining $1,500,000 and is anticipated to close in 45 days from the close of tranches 2 and 3. Proceeds of the fourth tranche will be used to complete the installation of an extraction facility by NSE’s subsidiary, Naturally Splendid Extracts Ltd. (“NS Extracts”), for the purposes of NS Extracts becoming a Licensed Dealer under the Narcotic Control Regulations (Canada).

Naturally Splendid previously applied to be a licensed dealer under the previous regulations. Under the new Cannabis Act, existing applications to be a licensed dealer will be able to migrate into the new regulatory framework to obtain a Processing License.


A Processing License allows a holder to grow their market reach in the pharmaceutical industry as well as the growing natural health product and nutraceutical industries, being revenue generating avenues which are closed to cannabis cultivators. This market advantage is especially strong in the increasingly important realms of cannabis R&D, testing and analytics, the extracts market and the emerging international cannabis markets.

Naturally Splendid CEO Mr. Douglas Mason states, “Accelerating the investment commitment from Wahupta allows NSE to proceed with the new application for a Processor’s License and advance initiatives set forth by both parties. This evidences our strong relationship with Wahupta and our combined commitment to be leaders in the industrial hemp industry. We look forward to providing updates on the license application and granting process as they develop.”

Wahupta CEO Warren Cudney states, “We are excited to have expedited our investment commitment and accelerated the new licensing process.  Not only does this make sense from a financial perspective, but also offers the mutual benefit of being in the extraction business at the earliest possible date. Naturally Splendid has demonstrated continued dedication to achieve our goals in the hemp industry and we are confident in the team we’ve assembled.”

The financing is subject to acceptance of the TSX Venture Exchange. See the news release dated October 9, 2018 for additional information on the Cooperation Agreement and the Investment.

About Wahupta Ventures Inc.

Please visit Wahupta’s website for more information: www.wahupta.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 info@naturallysplendid.com or call Investor Relations at 604-673-9573

On Behalf of the Board of Directors
Mr. Douglas Mason
CEO, Director

Contact Information

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: info@naturallysplendid.com
Website: www.naturallysplendid.com

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, 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, including its application to become a Licensed Dealer, 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.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Click here to connect with Naturally Splendid (TSXV:NSP) for an Investor Presentation.

Source: globenewswire.com

American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.

Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.

Keep reading... Show less

An Emerging Markets Sponsored Commentary

Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.

Keep reading... Show less

As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.

A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.

Keep reading... Show less

The product will include polyphenols known to have significant health benefits.

BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.

Keep reading... Show less

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.

The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).

Keep reading... Show less