Naturally Splendid Warrant Exercise Raises $254,980

Rhea-AI Summary

Naturally Splendid Enterprises Ltd. (TSXV:NSP, OTC PINK:NSPDF) announced the exercise of warrants generating $254,980. This resulted in the issuance of 4,636,000 common shares at $0.055 each, increasing the total outstanding shares to 206,803,007. CEO Craig Goodwin highlighted the company’s strategic focus on expanding its e-commerce initiatives and NATERA Plant Based Foods to meet rising consumer demand for plant-based products. The company has also developed proprietary extraction technologies for omega oils and is preparing for a phase 2 clinical trial for COVID-19 treatment.

Positive

• Raised $254,980 from warrant exercise.
• Increased total outstanding shares to 206,803,007.
• Focus on expanding e-commerce and plant-based food initiatives.
• Developed proprietary technologies for omega oil extraction.
• Preparing for a phase 2 clinical trial approved by Health Canada for COVID-19.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 5, 2021 / Naturally Splendid Enterprises Ltd. ("Naturally Splendid", "NSE" or "the Company") (TSXV:NSP) (FRANKFURT:50N) (OTC PINK:NSPDF) announces it has received $254,980 in cash from the exercise of warrants. The warrants were exercised at a price of $0.055 for a total of 4,636,000 common shares being issued. Following the issuance of these shares, Naturally Splendid will have 206,803,007 common shares outstanding.

Naturally Splendid CEO Craig Goodwin states," The Company continues to push forward with our strategic initiatives including our NATERA Plant Based Foods. Capital is being directed to expanding our e-commerce initiatives as well as the more traditional distribution channels. E-commerce continues to be an area of focus for the Company as consumers are shopping for groceries from home with increasing frequency. Consumer demand for plant-based foods continues to increase as well. This combination offers an opportunity that we continue to expand upon. I look forward to providing updates on these areas of focus in a timely manner."

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/633671/Naturally-Splendid-Warrant-Exercise-Raises-254980

FAQ

What is the significance of Naturally Splendid's warrant exercise raising $254,980 on March 5, 2021?

The $254,980 raised from warrant exercise allows Naturally Splendid to expand its business initiatives and increase its capital for strategic projects.

How many common shares were issued after the warrant exercise by Naturally Splendid?

Following the warrant exercise, Naturally Splendid issued 4,636,000 common shares, bringing the total outstanding shares to 206,803,007.

What initiatives is Naturally Splendid focusing on after the recent capital raise?

Naturally Splendid is focusing on expanding e-commerce initiatives and developing its NATERA Plant Based Foods line to meet consumer demand.

What stage is Naturally Splendid in for its COVID-19 clinical trial?

Naturally Splendid has received approval for a phase 2 clinical trial for COVID-19 treatment from Health Canada.

What are the proprietary technologies developed by Naturally Splendid?

Naturally Splendid has developed proprietary extraction technologies for healthy omega 3 and 6 oils from hemp.