Naturally Splendid Announces Warrant Exercise Raises Additional $612,865

Rhea-AI Summary

Naturally Splendid Enterprises Ltd. (OTC PINK:NSPDF) announced a $612,865 cash increase from the exercise of warrants at $0.055, totaling 11,143,000 shares. This follows a prior $254,980 raised on March 5, 2021, bringing the total to $867,854. CEO Craig Goodwin highlighted that this capital will boost initiatives in plant-based foods and e-commerce. Additionally, the company has partnered with BCIT for a survey exploring Gen-Z and millennials' awareness of plant-based foods, which aims to inform future product development.

Positive

• Raised $612,865 from warrant exercises, enhancing liquidity.
• Total funds raised from warrant exercises amount to $867,854.
• Capital will support key initiatives in plant-based foods and e-commerce.
• Survey in collaboration with BCIT will provide insights for product development.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 19, 2021 / Naturally Splendid Enterprises Ltd. ("Naturally Splendid", "NSE" or "the Company") (TSXV:NSP) (FRANKFURT:50N) (OTC PINK:NSPDF) announces it has received an additional $612,865 in cash from the exercise of warrants. The warrants were exercised at a price of $0.055 for a total of 11,143,000 common shares being issued. Following the issuance of these shares, Naturally Splendid will have 217,946,007 common shares outstanding.

Previously on March 5, 2021, the Company announced $254,980 in cash from the exercise of warrants. Cumulatively the Company has now received a total of $867,854 through the exercise of warrants.

Naturally Splendid CEO Craig Goodwin states," A strategic investor has exercised this recent round of warrants, which has allowed the Company to accelerate on key initiatives. This influx of capital will be directed towards the operations of the Company to further advance projects such as Natera Plant-Based Foods and e-commerce strategies. We look forward to providing updates as these key initiatives are implemented".

British Columbia Institution of Technology (BCIT) Survey

The Company also just completed an exciting survey with a dedicated team of Marketing students from the British Columbia Institution of Technology (BCIT) that aims to explore gen-z and millennials' awareness, knowledge, and perception of plant-based foods.

BCIT, established in 1964, is one of BC's largest post-secondary institutions with more than 48,000 students. The institution has gained an exceptional reputation partnering learners and industry for success through workforce development.

The findings from the survey will provide insight to consumer preferences for future Plant-Based Protein Foods. We look forward to providing updates on the continued growth of Natera Plant-based Foods in the very near future including our findings from the survey details.

About Naturally Splendid Enterprises Ltd.

Founded in 2010, NSE operates a Safe Quality Food Level 2 certified food manufacturing facility just outside Vancouver, BC in Canada. The Company has established numerous healthy, functional foods under recognized brands such as Natera Sport™, Natera Hemp Foods, CHII, Elevate Me™ and Woods Wild Bar™, and most recently Natera Plant Based Foods, a line of delicious plant-based meat alternatives for the rapidly growing plant-based market segment.

The Company has a myriad of new products and line extensions under development that are approaching launch. NSE, through its joint venture Plasm Pharmaceutical, has been approved for conducting a phase 2 clinical trial approved by Health Canada for treatment of COVID-19.

NSE has also developed proprietary technologies for the extraction of high-demand, healthy omega 3 and 6 oils from hemp.

NSE contract manufacturers for healthy, functional food products and ingredients focusing on plant-based ingredients. The Company provides contract manufacturing services for many healthy food companies, private labeling a wide variety of nutritional food products destined for global healthy food markets.

For more information e-mail info@naturallysplendid.com or call Investor Relations at 604-465-0548 ext.105

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) 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; the ability to complete the sales of all bulk hemp seed purchase orders; 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.

View source version on accesswire.com:
https://www.accesswire.com/636450/Naturally-Splendid-Announces-Warrant-Exercise-Raises-Additional-612865

FAQ

What is the recent capital raised by Naturally Splendid (NSPDF)?

Naturally Splendid raised $612,865 from the exercise of warrants, totaling $867,854 raised in March 2021.

How many shares were issued from warrant exercises by Naturally Splendid?

A total of 11,143,000 common shares were issued from the recent exercise of warrants.

What will the raised funds be used for at Naturally Splendid?

The raised funds will support operations and key initiatives in plant-based foods and e-commerce.

What partnership did Naturally Splendid announce for consumer insights?

Naturally Splendid partnered with BCIT to conduct a survey on Gen-Z and millennials' awareness and perception of plant-based foods.