Naturally Splendid (TSXV:NSP) announced that its board of directors have approved a proposed private placement offering of a minimum of 5,555,555 units up to a maximum of 9,259,259 Units at a price of $0.27 per Unit for minimum gross proceeds of $1,500,000 and up to maximum gross proceeds of $2,500,000.
Naturally Splendid CEO, Craig Goodwin, stated:
We continue to increase sales through several channels including exports, our 100% owned retail lines as well as the POS Bio Processing Centre (POS BPC). On July 1, 2016, the Company will be moving to its new expanded location in the Greater Vancouver Region to accommodate the increased product flow and sales. This raise allows us to continue our aggressive exporting strategy and add to our South Korean success with exports to additional countries in Asia and Europe. We are currently at an advanced stage of negotiations with three countries for bulk and retail exports of our hemp based products including HempOmega™.
We will also direct funds towards commercializing and monetizing our Cannabidiol (CBD) technologies and products, as regulatory issues continue to clear resulting in fewer legal challenges in this highly regulated market, subject to TSXV regulatory approval. As with emerging opportunities, timing is of utmost importance and we are well positioned to penetrate this market as that time nears. We believe it is just a matter of time until the CBD regulations are relaxed allowing for neutraceutical grade CBD products.