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Naturally Splendid Enterprises Ltd. announced its partnership with Quality Foods and CASECO, enabling the distribution of Plantein™ plant-based products across Vancouver Island. Quality Foods will carry these products in all 13 of its stores, supported by a promotional campaign aimed at reaching over 300,000 consumers. CASECO will distribute the same range through its network of 100 retail stores. This collaboration is designed to enhance market presence and consumer awareness of Plantein™ products, targeting diverse dietary preferences including vegan and vegetarian.
Naturally Splendid Enterprises Ltd. reported financial results for the nine months ended September 30, 2022, showing a net loss of $2,218,019, an improvement from $2,486,566 in the previous year. The company has shifted focus to its Plantein™ plant-based foods amidst challenges, including delays in manufacturing due to chip shortages and COVID-19 restrictions. Sales dropped to $249,519 from $619,653, while gross profit margins improved by 5.6%. The company is reducing overhead by 45% and discontinuing several product lines to streamline operations.
Naturally Splendid Enterprises Ltd. (OTC PINK:NSPDF) has announced the immediate resignation of CFO George Ragogna, who will transition to an independent consultant role focusing on logistics and inventory management. Bryan Carson, co-founder and Executive VP, will serve as interim CFO. CEO Craig Goodwin acknowledged Ragogna's contributions in streamlining accounting processes. The company continues to operate a certified food manufacturing facility and maintains a significant manufacturing agreement with Flexitarian Foods Pty. Ltd.
Naturally Splendid Enterprises Ltd. recently showcased its Plantein line of plant-based entrees at the Grocery Innovations Canada trade show held on October 25-26, 2022, in Toronto. The Company presented eight products to a wide audience of retailers and distributors. CEO Craig Goodwin noted that the response was overwhelmingly positive, acknowledging the support from partners in Australia. Additionally, Naturally Splendid has a unique 10-year agreement with Flexitarian Foods for distribution in Canada and is evaluating a compensation package related to a terminated agreement with Plasm Pharmaceutical.
Naturally Splendid Enterprises Ltd. has partnered with the Vancouver Giants Hockey Club to offer Plantein plant-based food options at home games held at the Langley Event Centre. This partnership aims to enhance the fan experience by introducing new menu items like Nuggets, Schnitzel, and Sweet Chili Tenders. The CEO of Naturally Splendid expressed excitement about this collaboration, which includes supplying Plantein products to player families and supporting various Giants activities, such as the upcoming Tail Gate Event.
Naturally Splendid Enterprises Ltd. announced a share consolidation, effective September 22, 2022, at a ratio of 15 pre-consolidation shares to 1 post-consolidation share. Following this action, the outstanding common shares will total 22,041,631. The consolidation aims to enhance capital efficiency as the company focuses on plant-based opportunities, leveraging a key agreement with Australia's largest plant-based manufacturer, Flexitarian Foods. Shareholders will receive a letter of transmittal with instructions on exchanging their share certificates.
Naturally Splendid Enterprises Ltd. announced the consolidation of its shares at a ratio of 15 pre-consolidation shares to 1 post-consolidation share, effective September 21, 2022. After consolidation, the total issued shares will be 22,041,631. A letter of transmittal will inform registered shareholders of the consolidation process. CFO George Ragogna emphasized the focus on plant-based opportunities, particularly leveraging an exclusive agreement with Australia's largest plant-based manufacturer, Flexitarian Foods. The company aims to replicate its success in Canada following its achievements in other markets.
Naturally Splendid Enterprises Ltd. has secured a purchasing program for its PlanteinTM plant-based products with Greenbridge Foodservice, enhancing distribution across Canada. This agreement allows Greenbridge to market a comprehensive line of PlanteinTM items, including burgers, nuggets, and tenders. The collaboration aims to better serve existing customers and expand the company's reach. The company has a certified manufacturing facility in Vancouver and a 10-year distribution agreement with Flexitarian Foods, indicating strong market positioning within the plant-based sector.
Naturally Splendid Enterprises has announced a partnership with Gordon Food Service Canada (GFS) as a national distributor of its Plantein plant-based products. GFS, operating for over 125 years, will distribute seven key Plantein SKUs across its 11 distribution centers in Canada. This strategic move aims to enhance Naturally Splendid's market presence and access to larger clients. The company is also set to showcase its products at the Gordon Food Service Food Show on September 21, 2022.
Naturally Splendid Enterprises Ltd. (NSPDF) has partnered with Vegan Supply to distribute a selection of PlanteinTM products. Vegan Supply will carry five plant-based entrees including Nuggets, Schnitzel, and Crispy Burgers, making these available through their retail store and e-commerce platform. The partnership highlights Naturally Splendid's commitment to the growing vegan market and reflects confidence in the quality of their products. The Company operates a certified food manufacturing facility and has agreements for both manufacturing and distribution.
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