Naturally Splendid Enterprises Ltd. ("Naturally
Splendid," “NSE” or “the Company”) (FRANKFURT:50N) (TSX-V:NSP)
(OTC:NSPDF) announces the engagement of Dr. Amin Janmohamed as its
Qualified Person In Charge (“QPIC”) in the Company’s application to
become a Licensed Dealer. Additionally, Dr. Janmohamed has been
appointed to Naturally Splendid’s Advisory Board where his
extensive medical research and formulation experience will be a
significant asset to the Company as strategic plans continue to
evolve and focus on the nutraceutical and therapeutic applications
for cannabinoids such as CBD (cannabidiol) and THC
(Tetrahydrocannabinol).
Dr. Janmohamed is a researcher, clinical program
developer and drug formulator in the area of severe opioid use
disorder. He is currently a researcher at CHEOS (Centre for
Health Evaluation and Outcome Sciences) affiliated with Providence
Health Care Research Institute and UBC Faculty of Medicine, and the
CEO of Bixa Therapeutics Inc., Bixa Research Inc., and Bixa S.A.
(Colombia). Dr. Janmohamed is a co-investigator in the SALOME
clinical trial (Study to Access Long-term Opioid Medication).
Dr. Janmohamed’s extensive expertise covers in study-drug
formulations, regulations, drug development, manufacturing,
security, and program development of controlled substances in
clinical trials and clinical treatment. Dr. Janmohamed has been
published in several medical publications. He holds a BSc
(Pharm) from the University of British Columbia, and an MSc and PhD
in Health Sciences from the Universidad Empresarial, Costa
Rica.
Naturally Splendid CEO Mr. Douglas Mason states,
“Engaging Dr. Janmohamed as our QPIC is a critical step towards
Naturally Splendid becoming a Licensed Dealer in Canada. With his
first-hand experience at obtaining and working under a Dealer’s
License and his many years of research experience, he will be able
to guide us through the process and provide invaluable insight. He
has a wealth of history in the medical research and formulation
field that will be invaluable on our Advisory Board as we pursue a
number of activities related to cannabis and the extraction,
formulation and distribution of cannabinoids.” Becoming a Licensed
Dealer creates the opportunity for several revenue streams
including CBD and THC as well as other cannabinoids derived from
hemp or marijuana, as it relates to extraction, distillation,
product development, manufacturing and marketing of cannabinoid
fortified products. According to the Prime Minister’s office,
regulatory laws in Canada pertaining to the extraction of CBD from
industrial hemp are anticipated to be amended in the summer of
2018. Becoming a Licensed Dealer positions Naturally Splendid to be
a supplier of cannabis extracts and cannabis extract fortified
products as well as the ability to perform a number of additional
services as identified below each in accordance with the Canadian
regulatory regime.
The regulatory purpose for a Licensed Dealer is
to enable legal possession of controlled substances such as CBD and
THC for the following purposes:
1) Manufacturing2) Packaging3) Preparation of
R&D Formulations for future manufacturing4) Resale and
distribution to other licensees, including pharmacies5) Importing
and exporting for global sales6) Laboratory testing7) Contract
activities for any of the above activities
In consideration for Dr. Janmohamed’s engagement
as Qualified Person in Charge, NSE will issue a total of 200,000
common shares of the Company (the “NSP Shares”) as follows:
(a) 50,000 NSP Shares on the date of TSX Venture
Exchange acceptance of this Agreement (the “Exchange Approval
Date”);
(b) 10,000 NSP Shares on the date that is two
months after the Effective Date;
(c) 10,000 NSP Shares on the date that is three
months after the Effective Date;
(d) 10,000 NSP Shares on the date that is four
months after the Effective Date;
(e) 10,000 NSP Shares on the date that is five
months after the Effective Date;
(f) 10,000 NSP Shares on the date that is six
months after the Effective Date;
(g) 100,000 NSP Shares on the first anniversary
of this Agreement.
In consideration of Dr. Janmohamed’s appointment
to Naturally Splendid’s Advisory Board, he will be granted 100,000
stock options at an exercise price of $0.20.
The issuance of the shares to Dr. Janmohamed is
subject to the acceptance of the TSX Venture Exchange.
About Naturally Splendid Enterprises
Ltd.
Naturally Splendid is a biotechnology and
consumer products 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) BIOTECHNOLOGY – Focused on three major
platforms:
- Proprietary HempOmega™ encapsulation
- Extraction and formulation with Cannabidiol (CBD)
- Hemp and plant-based proteins.
(2) CONSUMER PRODUCTS -
- NATERA® - brand of retail hemp and superfood products
distributed throughout North America, Asia and Europe.
- Prosnack Natural Foods Inc. (Elevate Me™) - lifestyle brand of
healthy meal replacement products distributed throughout North
America.
- Chi Hemp Industries Incorporated (CHII) - e-commerce platform
for natural and organic hemp products.
- PawsitiveFX® - topical pet care products.
- NATERA®CBD - retail hemp-based cannabinoid nutraceutical and
cosmeceutical products distributed in Asia.
- NATERA®Skincare - brand of retail hemp based cosmeceutical
products.
(3) NATERA® Ingredients - bulk ingredients
including HempOmega™.
(4) Co-Packaging/Toll-Processing - packaging for
house-brands (NATERA® and CHII) and third-party partners.
For more information e-mail info@naturallysplendid.com or call
Investor Relations at 604-673-9573
On Behalf of the Board of Directors
Mr. Douglas MasonCEO, 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) 465-1128E-mail: info@naturallysplendid.comWebsite:
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.
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