Naturally Splendid (TSXV:NSP,FWB:50N,OTCQB:NSPDF) has received an initial purchase order for its hemp food products from Korea Beauty & Health Care Co., in South Korea. The first 20 tonne shipment of hulled hemp seeds will leave Naturally Splendid’s Burnaby distribution center on February 5 2016.
As quoted in the press release:
Korea Beauty & Health Care Co., Ltd. (KBH) was established in 2003 and has a successful track record bringing a variety of products to the South Korean marketplace in the area of cosmetics, household items, functional foods, and medical equipment. KBH was certified as a food manufacturer and cosmetic manufacturer in 2015 and is also a product developer with its own R&D facility. The Company currently employs 62 people and generated revenue of approximately 12,000,000,000 Won ($14,000,000 CDN) in 2015 via online shopping, offline shopping, traditional retail and TV shopping channels. KBH will be marketing the NATERA(R) brand through online shopping, offline shopping, traditional retail and TV shopping channels.
Naturally Splendid CEO, Craig Goodwin, said:
This initial order is secured by an irrevocable letter of credit which is a recognized financial instrument for international business. All in all, this is a significant day in the development of Naturally Splendid. As I’ve stated on several occasions, much of 2015 was focused on acquiring technology and processing capacity as well as the personnel to execute our vision. I believe that 2016 will be the year when our efforts will be translated into multiple revenue streams. The South Korean opportunity secures us a foothold in the growing Asian market. We see increased interest for our hemp food products in Asia and we are in advanced discussions with several other groups in Asia and anticipate additional purchase orders from the region in due course.