VANCOUVER, BRITISH COLUMBIA / October 26, 2015 - Naturally Splendid Enterprises Ltd. (the Company) (FRANKFURT:50N) ($NSP:CA) ($NSPDF) is pleased to announce that through its recently acquired POS BPC facility in Saskatoon, it has secured a government grant for HempOmega® product development from the Saskatchewan Agri-Value Initiative (SAVI) under the Canada-Saskatchewan Growing Forward 2 bi-lateral agreement. The grant is an arrangement whereby Naturally Splendid and SAVI split the cost of the project 50/50 and Naturally Splendid will have 100% ownership of all data as well as information.
The product development project will be conducted at the Saskatchewan Food Industry Development Centre, Inc. (SFIDC) located in Saskatoon, Saskatchewan and is expected to run for up to three months with periodic reports and updates. The SFIDC is a non-profit organization, providing full service assistance to food processors wanting to add value to their products for domestic and/or international markets. The Food Centre’s expertise includes food and process development, interim processing and technology transfer.
The SFIDC has established a reputable role in food industry for R&D of new food concepts, interim processing, extrusion and food safety training. Since inception, the SFIDC has developed over 600 products with an estimated 50% introduced into the market. The staff boasts an impressive 125 plus years of experience in the food industry and several food scientists. The SFIDC houses a state-of-the-art federal facility that is HACCP Approved, Organic Certified, Canadian Food Inspection Agency (CFIA) approved for meat, dairy and processed foods, and FDA approved.
The product development specialists at SFIDC will be incorporating HempOmega® into various food applications to determine the maximum inclusion levels. The project will also evaluate shelf life and nutritional labeling to determine what levels are required to meet Health Canada’s Omega-3 nutrient claim. Potential markets for HempOmega™ include:
- Functional Foods / Supplements
- Nutraceutical Innovations
- Energy Drinks / Energy Bars
- Dairy / Dairy Alternatives
- Baked Goods
- Pet Foods & Livestock Feed
According to a recent Research and Markets report, the global omega-3 ingredients market was valued at US $2,786.2 million in 2014 and is expected to reach US $7,499.4 million by 2021. The health benefits of omega fatty acid consumption are being recognized globally and demand is increasing rapidly. As consumers continue to shift towards more sustainable and environmentally friendly diets, NSE is posed to capture a large share of this market with HempOmega®. HempOmega® is a microencapsulated hemp seed oil that has been formulated into a soluble, homogenous powder. Hemp seed oil is a great source of omega fatty acids and contains an ideal ratio of omega-6 to omega-3 as recommended by the World Health Organization.
Naturally Splendid CEO Craig Goodwin states, “We are very excited about the HempOmega® evaluation project underway at SFIDC. This is a crucial next step in bringing HempOmega® to additional markets as a value-added omega nutritional ingredient. We already know that HempOmega® has shown superior bioavailability and sustainability of omega fatty acids and with the data from this project, we will understand how to incorporate it into a wide range of food products. Programs such as SAVI support our continued mission of becoming a leading provider of value-added, plant-based nutritional ingredient solutions. We thank SAVI for their support.”
About Naturally Splendid Enterprises Ltd.
Naturally Splendid is a multifaceted biotechnology company that is developing, producing, commercializing, and licensing an entirely new generation of plant-derived, bioactive ingredients, nutrient-dense foods, and related products. Naturally Splendid is building an expanding portfolio of patents (issued and pending) and proprietary intellectual property focused on the commercial uses of industrial hemp and non-psychoactive cannabinoid compounds in a broad spectrum of applications.
Naturally Splendid currently has four innovative divisions: (1) Natera® brand of retail hemp superfood products currently distributed throughout North America; (2) PawsitiveFX® brand of pet care products; (3) BCI Division of plant-derived bulk ingredients including patent-pending HempOmega®; and (4) hemp-based cannabinoid nutraceuticals. The Company's advanced technologies, industry expertise, and strategic partners allow for the creation of customized solutions with a consistent focus on quality and sustainability.
For more information please e-mail email@example.com or call 604-673-9573
On Behalf of the Board of Directors
J. Craig Goodwin
Naturally Splendid Enterprises Ltd.
(NSP – TSX Venture; NSPDF – OTCQB; 50N Frankfurt)
2435 Beta Avenue
Burnaby, BC, V5C 5N1
Phone: (604) 570-0902
Fax: (604) 570-0934
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. There is no guarantee that the Company's plans will be found to be commercially viable, POS will be successful in developing new plant based omega products; the costs to develop these products will not be higher than anticipated; the Company's ability to compete with large food and beverage companies; sales of any potential products developed will be profitable; 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.
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