Naturally Splendid Receives Purchase Order From Private Label Plant-Based Client

Rhea-AI Summary

Naturally Splendid Enterprises Ltd. (OTC:NSPDF) has secured a $75,000 purchase order from a Canadian company for plant-based meat replacements, which will be distributed under a private label. The company also plans exclusive manufacturing for Flexitarian Foods, expected to finalize by early July. This move positions Naturally Splendid to expand its plant-based product offerings in targeted market segments. The manufacturing will occur in their Pitt Meadows facility, enhancing their strategy in the growing plant-based food sector.

Positive

• Secured a $75,000 purchase order for plant-based meat alternatives.
• Exclusive manufacturing agreement anticipated with Flexitarian Foods, expanding market reach.
• Manufacturing will take place in a certified facility, supporting product quality.
• Focus on private label clients for niche market penetration.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / June 7, 2021 / Naturally Splendid Enterprises Ltd. ('Naturally Splendid', 'NSE' or 'the Company') (TSXV:NSP) (FRANKFURT:50N) (OTC:NSPDF) is pleased to announce an initial $75,000 purchase order from a Canadian-based company, for a selection of plant-based meat replacement products to be distributed under their own private label brand.

Naturally Splendid will work with this client to provide plant-based products in unique packaging, designated for specific distribution channels. The range of products will include select meat alternative, plant-based offerings as well as custom formulated meat-like products.

Naturally Splendid recently announced a Letter of Intent ("LOI") with Flexitarian Foods Pty. Ltd., a division of Australia's largest plant-based manufacturer, to become the exclusive manufacturer for an extensive line of plant-based, meat-alternative products for the Canadian market (See Company news release dated June 3, 2021). The LOI is expected to close by the first week of July. Manufacturing of the plant-based meat alternatives will be at the Company's existing 20,000 square foot manufacturing facilities in Pitt Meadows BC.

This recent purchase order is indicative of the opportunity afforded to Naturally Splendid as the strategy to manufacture a wide range of plant-based alternatives for beef, chicken, pork, fish and shellfish products in our own facility progresses. Naturally Splendid plans to produce for select strategic private label clients, for targeted distribution channels.

Naturally Splendid CEO Mr. Craig Goodwin states, "We are excited with the opportunity to private label for this Canadian-based company. The private label clients we take on will be selected strategically, with the objective being to identify unique opportunities through product development, packaging, as well as specific distribution channels not in competition with our own NATERA Plant Based Foods. Historically, Naturally Splendid has balanced our contract manufacturing business with the development and distribution of our own Company branded products and this strategy will be executed for producing plant-based entrees as well."

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/650659/Naturally-Splendid-Receives-Purchase-Order-From-Private-Label-Plant-Based-Client

FAQ

What is the recent purchase order amount for Naturally Splendid (NSPDF)?

Naturally Splendid received a purchase order worth $75,000.

Who is the private label client working with Naturally Splendid (NSPDF)?

The client is a Canadian-based company, though not specifically named in the release.

What is the significance of the Letter of Intent with Flexitarian Foods for Naturally Splendid (NSPDF)?

The LOI signifies an agreement for Naturally Splendid to become the exclusive manufacturer of a line of plant-based products for the Canadian market.

When is the LOI with Flexitarian Foods expected to close?

The LOI is expected to close by the first week of July.

Where will the manufacturing of plant-based products take place for Naturally Splendid (NSPDF)?

Manufacturing will occur at the company’s existing facility in Pitt Meadows, BC.