Naturally Splendid Enterprises Ltd. (“Naturally Splendid”, “NSE” or “the Company”) (FRANKFURT:50N) (TSXV:NSP) (OTC:NSPDF) provides the following updates.
The Company has reviewed the CBD edibles opportunity and has strategically adapted our strategy for this emerging market. Naturally Splendid, will continue to focus our core strengths manufacturing nutritious food, with plant-based ingredients in our SQF2 Certified food manufacturing facility while the market for edibles continues to evolve. We will leverage this expertise to extend into the ‘edibles market’ as opportunities warrant and the necessary licensing secured.
In 2019 many companies involved in the cannabis industry began to tighten their budgets and and/or reduced the scope of projects given the state of the cannabis market in Canada. That trend is continuing into 2020. It is prudent for Naturally Splendid to adjust strategies to best suit these challenging times for the cannabis industry.
Therefore, after a thorough review, the agreements with AlternaMedz Canada Holdings Inc. and Prairie Pure (1159705 BC Ltd.) have been terminated.
AlternaMedz Agreement Terminated
The AlternaMedz agreement for the purchase of a late stage Processor License and buildout of a cannabidiol (CBD) extraction facility in Innisfil, Ontario has been terminated. The Termination is due to the fact that Naturally Splendid and AlternaMedz failed to satisfy the closing conditions by July 31, 2019. With the termination of this agreement, the Company will focus capital spends on increasing capacity and efficiencies within our core business manufacturing nutritious bars and bites.
Prairie Pure Agreement Terminated
The Prairie Pure agreement was based on Naturally Splendid providing equipment for the extraction of cannabidiol (CBD) from hemp at a facility in the state of Oregon, USA. This agreement has been terminated as Prairie Pure was not able to secure the necessary equipment and liability insurance for this operation to the satisfaction of Naturally Splendid. The Company is reviewing several opportunities to put the extraction units into use in other business arrangements.
Naturally Splendid CEO Mr. J. Craig Goodwin states, “There has been significant cannabinoid extraction operations and capacity brought online over the last 12 months or so. In our opinion there is sufficient cannabidiol (CBD) extraction capacity, to satisfy current consumer demand. However, we believe there is under capacity manufacturing infused food products. It is with this in mind that the Company will focus on leveraging our food making expertise, as we revise our ‘edibles strategy’, to focus on the production of CBD-infused food, rather than the actual extraction process.
The Company’s extraction and edibles strategy has come full circle and we will focus our attention on securing a Processor License in Pitt Meadows BC, for the purpose of manufacturing infused edibles. This makes the most sense economically and geographically allowing us to best utilize the food manufacturing expertise that is already available within our SQF2 facility”.
Prior to cannabis regulations changing in 2018, the Company engaged Cannabis Compliance Inc. to prepare a site plan for their Pitt Meadows location for the purpose of extracting cannabinoids and processing into edibles. We are amending that application to reflect current regulations regarding the processing of cannabinoids into food products and submitting for review and eventual approval.
In December 2019, Prohibition Partners reported that, “For 2020: We will see more and more industries across the board incorporating cannabidiol into their product ranges. This is likely to spill over into a greater array of food products, and food operators with clean eating and veganism are likely to be key conduits. Sports performance (including sports drinks) and recovery/injury products will also be a major category in development that will also pay greater attention to CBD; however, we may also see the entire sports drinks category shift its focus in favor of mental stimulation and nootropics (including CBD) rather than on simple physical exertion, as the drain on mental time and energy continues to be much higher than the physical demands of modern living. Household goods will also pick up on the trend, with CBD-based sleep aids an exciting new avenue for a whole host of product development”.
Naturally Splendid Vice President Mr. Bryan Carson states, “We field multiple inquiries regarding edibles from our existing clients as well as from new contacts looking for a manufacturer. The expertise we have developed at Prosnack will be transferable to the buildout of a facility dedicated to edibles. We look forward to expanding our services to include CBD edibles in due time and with the proper licensing in place. In the meantime, we will focus on servicing our growing roster of contract manufacturing clients”.
About Naturally Splendid Enterprises Ltd.
NSE has established numerous healthy, functional foods under recognized brands such as Natera Sport(TM), Natera Hemp Foods, CHII (TM), Elevate Me(TM) and Woods Wild Bar. The Company has a myriad of new products and line extensions under development that are approaching launch. NSE has also developed proprietary technologies for the extraction of high demand, healthy omega 3 and 6 oils from hemp. (NSE sales revenues for the first half 2019 exceeded FY2018).NSE is the current “go-to” manufacturer for healthy, functional food products and ingredients focusing on plant-based ingredients. The Company provides contract manufacturing services for many global healthy food companies, private labelling a wide variety of nutritional food products destined for global healthy food markets. NSE plans to utilize current and new technologies to meet the expected exponential demand developing in the cannabis market. Pending appropriate NSE licensing and regulations in permitting jurisdictions, NSE’s current production facilities will be one of very few facilities that is capable of meeting the demand for infused edibles and oils for both in-house and contract manufacturers’ brands.
For more information e-mail info@naturallysplendid.com or call Investor Relations at 604-673-9573
On Behalf of the Board of Directors
Mr. J. Craig Goodwin
CEO, President, 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; customers will complete on sales contracts; and the risk that any of the potential applications 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.
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Market entry will address pent-up demand in the Japanese & Philippine markets for TRACE proprietary plant-based mineral formulation and wellness-focused products
Emerging leader in innovative health and wellness beverages and natural products, BevCanna Enterprises Inc. ( CSE:BEV , Q:BVNNF , FSE:7BC ) (“ BevCanna ” or the “ Company ”) announces today that has entered into an exclusive sales agency distribution agreement with Yokohama-based Mirai Marketing Inc. (“Mirai”) to bring Naturo Group’s TRACE proprietary plant-based mineral consumer products to Mirai’s extensive Japanese and Philippine sales and distribution networks.
Mirai will assist BevCanna with their entry into the new markets, providing connections to established companies with robust distribution networks. Mirai has significant knowledge and relationships in the wellness products market and has facilitated over $100M in transactions with some of Asia’s largest trading companies and retail chains. The well-known distributor will leverage this extensive experience to rapidly scale the TRACE brand throughout the territories. The initial term of the agreement will be two years, with exclusivity subject to a minimum net revenue of C$1.0M over the course of the term and incentives to reach over C$5.0M during the term.
“We’re in active discussions with a number of distributors, wholesalers, trading companies and retailers to determine the best fit for the TRACE brand in the Japanese and Philippine markets,” said Melise Panetta, President of BevCanna. “Japanese consumers in particular are very health-conscious, and prospective partners have confirmed that the wellness benefits of our TRACE portfolio will be very appealing to this demographic.”
With over 40 years of experience working with some of Asia’s largest corporations, Mirai Marketing was founded by a team of Canadian and Japanese principals who have extensive experience in international sales, management and project development in a range of industries. Mirai is actively focusing on expanding sales of Naturo Group’s beverage and natural wellness products throughout Asia.
“We’re very excited to represent the TRACE products in the Japanese and Philippine marketplaces,” said Hideaki Sakuma, COO of Mirai. “We’ve seen an incredible growth in the demand for wellness-focused products by Asian consumers in recent years and an eagerness to participate in the evolution of health products. The TRACE line is certain to be a strong performer in this emerging market.”
About BevCanna Enterprises Inc.
BevCanna Enterprises Inc. ( CSE:BEV , Q:BVNNF , FSE:7BC ) is a diversified health & wellness, beverage and natural products company. BevCanna develops and manufactures a range of plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients.
With decades of experience creating, manufacturing and distributing iconic brands that resonate with consumers on a global scale, the team demonstrates an expertise unmatched in the nutraceutical and cannabis-infused beverage categories. Based in British Columbia, Canada, BevCanna owns a pristine alkaline spring water aquifer and a world–class 40,000–square–foot, HACCP certified manufacturing facility, with a bottling capacity of up to 210M bottles annually. BevCanna’s extensive distribution network includes more than 3,000 points of retail distribution through its market-leading TRACE brand, its Pure Therapy natural health and wellness e-commerce platform, its fully licensed Canadian cannabis manufacturing and distribution network, and a partnership with #1 U.S. cannabis beverage company Keef Brands .
On behalf of the Board of Directors:
John Campbell, Chief Financial Officer and Chief Strategy Officer
Director, BevCanna Enterprises Inc.
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include statements regarding: the Company’s agreement with Mirai, including the potential benefits thereof; the Japanese market for TRACE products and that the Company’s products will be very appealing to Japanese consumers; that there has been incredible growth in the demand for wellness-focused products by Japanese consumers in recent years and an eagerness to participate in the evolution of health products; that the TRACE line is certain to be a strong performer in this emerging market; and other statements regarding the business plans of the Company. The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements.
Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include, among other things: general market conditions; changes to consumer preferences; volatility of commodity prices; future legislative, tax and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the inability to implement business strategies; competition; currency and interest rate fluctuations; inability to successfully negotiate and enter into commercial arrangements with other parties; and other factors beyond the control of the Company and its commercial partners. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.
Stock Option Grant
In connection with the sales agency distribution agreement with Mirai, the Company has granted (the “Grant”) an aggregate of 1,000,000 stock options (each, an “Option”) to purchase up to 1,000,000 common shares of the Company to Mirai. The Options granted vest upon the achievement of certain sales performance milestones and are exercisable for a period of 25 months from the date of Grant at a price of $1.50 per common share.
None of the securities acquired in the Grant will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210419005225/en/
For media enquiries or interviews:
Wynn Theriault, Thirty Dash Communications Inc.
416-710-3370
wynn@thirtydash.ca
For investor enquiries:
Bryce Allen, BevCanna Enterprises Inc.
778-766-3744
bryce@bevcanna.com
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Further to its press release dated April 12, 2021, Ayurcann Holdings Corp. ( CSE: AYUR ) (the “ Company ” or “ Ayurcann ”), is pleased to announce that it has oversubscribed and upsized its non-brokered private placement (the “Offering”) due to strong investor demand. The Company now anticipates that the Offering will be completed for gross proceeds of not less than $550,000.00, consisting of not less than 2,910,053 units (“Units”) at a price of $0.189 per Unit. Each Unit is comprised of one common share of the Company (a “Common Share”) and one half of one Common Share purchase warrant (a “Warrant”). Each Warrant is exercisable to acquire one Common Share at an exercise price of C$0.38 per Common Share for a period of 36 months from the date of closing of the Offering (the “Closing Date”), scheduled for April 22, 2021. The Units will have a hold period of four months and one day from the date of issuance.
Ayurcann CEO Igal Sudman commented: “We are very pleased with the demand we are seeing for the Offering. The feedback we have received to date is showing that our business is resonating with investors. We’re looking forward to closing the offering and proceeding with the planned Phase 2 build out, which will help greatly increase our facility’s capacity.”
As previously stated, certain insiders of the Company may participate in the Offering. The Company may pay a commission in cash equal to 6% of the value of select proceeds raised under the Financing, specifically excluding any funds raised from insiders.
The Company will use the gross proceeds of the Offering for their Pickering facility Phase 2 expansion, which, when such expansion is complete, is estimated to increase the Company’s annual extraction capacity from 200,000 kgs to 300,000 kgs, and increase the fulfillment capabilities of cannabis 2.0 and 3.0 products from approximately 1 million units annually to approximately 2.5 million units annually.
For further information, please contact:
Igal Sudman, Chairman, Chief Executive Officer and Corporate Secretary
Ayurcann Holdings Corp.
Tel: 416-720-6264
Email: igal@xtrx.ca
Investor Relations:
Ryan Bilodeau
Tel: 416-910-1440
Email: ir@ayurcann.com
About Ayurcann Holdings Corp.:
Ayurcann is a leading post-harvest solution provider with a focus on providing and creating custom processes and pharma grade products for the adult use and medical cannabis industry in Canada. Ayurcann is focused on becoming the partner of choice for leading Canadian cannabis brands by providing best-in-class, proprietary services including ethanol extraction, formulation, product development and custom manufacturing.
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward- looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements, including but not limited to statements relating to the Company’s expansion plans and future production capacity. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include, but are not limited to, failure to obtain regulatory approval, ability to increase production at the Company’s facilities, the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, Further, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. Public health crises, including the ongoing novel coronavirus (COVID-19) pandemic, could have significant economic and geopolitical impacts that may adversely affect the Company’s business, financial condition and/or results of operations. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements.
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UK InstaCoin APP Promises to Open NFTs up to the Masses through Social Media
Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is pleased to provide an update on its recent investment in InstaCoin Technologies Ltd., a newly formed UK entity
Following an extensive testing period, new NFT APP InstaCoin has announced a global submission to the Apple store platforms with imminent release. The APP which promises to simplify the creation of NFT assets from a user’s social media has gone through extensive scale and blockchain testing as well as creating full language compatibility with the Chinese markets and European block.
NFTs are the new and most popular way to sell digital content across the world. Up until now the focus has been on large value sales, InstaCoin APP promises to bring the creation and auction element to the everyday person.
Code has a strong track record with the founders of InstaCoin through the Company’s existing TRAD3R investment. Code is excited to expand their involvement with TRAD3R and InstaCoin, as both entities are taking an innovative approach within the blockchain ecosystem. Code has taken an early 50% equity position of InstaCoin who aims to democratize NFT’s rather than focus primarily on multi-million dollar individual components.
The InstaCoin APP is positioned as the world’s first self-serve social NFT platform. InstaCoin will allow users to connect their social profiles to the blockchain and create instant NFT tokens from their own content. Followers and fans connect in the open market for immediate sales.
InstaCoin Technologies Ltd., a newly formed UK entity, has no relationship with any other company or crypto exchange with similar names, including Instacoin Capital Inc.
About Codebase Ventures Inc.
Codebase Ventures Inc. seeks early-stage investments in emerging technology sectors, including the blockchain ecosystem and fintech. The Company identifies such opportunities and applies its relationships and capital to advance its interests.
For further information, please contact:
George Tsafalas – Ivy Lu
Investor Relations
Telephone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
E-mail: IR@codebase.ventures
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE: Codebase Ventures Inc.
View source version on accesswire.com:
https://www.accesswire.com/640877/Codebase-Investee-Instacoin-NFT-App-UK-Completes-Worldwide-Testing-Phase-and-Submission-to-Apple-Store-Platforms
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Ayurcann Holdings Corp. (CSE: AYUR) (the “Company” or “Ayurcann”) an integrated Canadian extraction company specializing in the processing of cannabis and hemp for the production of oils and various derivative products, announces the granting of stock options and restricted share units.
The Company has announced that it has granted incentive stock options to directors, officers, employees and consultants of the Company to purchase an aggregate of 1,000,100 common shares under the Company’s Stock Option Plan. Each option is exercisable at a price of $0.16 per common share, expires three years from the date of grant and vest six months from the date of the grant.
The Company has also granted restricted share unit grants, pursuant to the Company’s Restricted Share Unit plan, dated April 1, 2021, totaling 1,548,875 to certain eligible participants.
For further information, please contact:
Igal Sudman, Chairman, Chief Executive Officer and Corporate Secretary
Ayurcann Holdings Corp.
Tel: 416-720-6264
Email: igal@xtrx.ca
Investor Relations:
Ryan Bilodeau
Tel: 416-910-1440
Email: ir@ayurcann.com
About Ayurcann Holdings Corp.:
Ayurcann is a leading post-harvest solution provider with a focus on providing and creating custom processes and pharma grade products for the adult use and medical cannabis industry in Canada. Ayurcann is focused on becoming the partner of choice for leading Canadian cannabis brands by providing best-in-class, proprietary services including ethanol extraction, formulation, product development and custom manufacturing.
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
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