Naturally Splendid Announces Proposed Consolidation and Special Meeting
Naturally Splendid Enterprises Ltd. (OTC PINK:NSPDF) has announced a proposed consolidation of its common shares at a ratio of up to 15:1. This aims to attract future financing, enhance investor interest, and improve trading liquidity. Currently, there are 330,624,458 shares outstanding, which would reduce to approximately 22,041,631 shares post-consolidation. The consolidation is pending approval from the TSX-V and shareholders, with a meeting scheduled for August 30, 2022. The company does not plan to change its name during this process.
- Proposed share consolidation to improve liquidity and attract financing.
- Current partnership with Flexitarian Foods for distribution and manufacturing.
- Established brands in the health and plant-based food market.
- Share consolidation may signal existing liquidity issues.
- Dependence on external financing could pose risks.
VANCOUVER, BC / ACCESSWIRE / August 2, 2022 / Naturally Splendid Enterprises Ltd. ("Naturally Splendid" or "NSE" or the "Company") (FRANKFURT:50N) (TSXV:NSP) (OTC PINK:NSPDF) announces that it intends to consolidate its issued and outstanding common shares at a ratio of up to fifteen (15) pre-consolidation shares to one (1) post-consolidation share (the "Consolidation"). The purpose of the Consolidation is to facilitate the Company's ability to attract future financings, generate greater investor interest, and improve trading liquidity.
The Company currently has 330,624,458 common shares issued and outstanding. In the event the Company proceeds with the Consolidation, as opposed to a lesser ratio, the Company anticipates there would be 22,041,631 common shares issued and outstanding.
The Consolidation is subject to acceptance from the TSX-V and approval of the shareholders. The Company has scheduled the holding of an Annual General and Special Meeting for August 30, 2022.
The Company will not change its name in conjunction with the Consolidation.
About Naturally Splendid Enterprises Ltd.
Naturally Splendid is a plant-based food manufacturing and technology company that produces and distributes nutritious and delicious plant-based commodity products.
Founded in 2010, the Company operates a Safe Quality Food Level 2 certified food manufacturing facility located just outside Vancouver, BC in Canada, focusing on producing an extensive range of plant-based entrees.
Naturally Splendid has an exclusive 10-year manufacturing and distribution agreement for Canada with a division of Australia's largest plant-based food manufacturer, Flexitarian Foods Pty. Ltd.
In addition to producing the Company's own branded products, Naturally Splendid provides contract manufacturing services and private labeling for a variety of nutritional plant-based food products destined for multiple distribution channels.
The Company has established healthy, functional foods under brands such as Natera Sport™, Natera Hemp Foods™, CHII™, Elevate Me™ and Woods Wild Bar™. The Company launched Natera Plant Based Foods, a line of delicious plant-based meat alternatives for the rapidly growing plant-based market segment.
Naturally Splendid maintains a relationship Plasm Pharmaceutical, a company that has been approved for conducting a phase 2 clinical trial approved by Health Canada for the treatment of COVID-19.
NSE has also developed proprietary technologies for the extraction of healthy omega 3 and 6 oils, as well as a protein concentrate from hemp.
On Behalf of the Board of Directors
Mr. J. Craig Goodwin
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) 570-0902
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.
SOURCE: Naturally Splendid Enterprises Ltd.
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