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Naturally Splendid Enterprises Ltd
Symbol NSP
Shares Issued 48,579,194
Close 2015-03-27 C$ 0.52
Market Cap C$ 25,261,181
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Naturally Splendid hires POS BPC for omega R&D

2015-03-30 08:48 ET - News Release

Mr. Craig Goodwin reports

EXCLUSIVE RESEARCH & DEVELOPMENT AGREEMENT; PH.D. RICK GREEN JOINS ADVISORY BOARD

Naturally Splendid Enterprises Ltd. has signed a binding letter of agreement with POS BPC Manufacturing Corp., a wholly owned subsidiary of POS Bio-Sciences, to provide research and development services to Naturally Splendid, on an exclusive basis for hemp-based research, process and product development, from the date of this agreement until Sept. 1, 2017.

Under the terms of the agreement, Naturally Splendid will invest a minimum of $250,000 to retain POS to further develop the plant-based omega technologies and products licensed from Full Spectrum Laboratories Ltd., specifically targeting the omega oil industry. The technical and product development strategy will be finalized in April, 2015, and final details will be provided at that time. All intellectual property and products developed by POS, in the course of providing the services, will be solely owned by Naturally Splendid.

In addition, POS vice-president of technology, Dr. Rick Green, has been appointed to the Naturally Splendid advisory board to provide technological expertise in the area of product development.

POS Bio-Science chief executive officer Dale Kelly emphasizes: "The fact POS is agreeing to exclusivity is no small decision for a 40-year-old R&D organization to offer. In addition, the fact we have agreed to have Dr. Green be a member of the Naturally Splendid advisory board is a solid vote of confidence that we have full faith in the new strategic alliance to create mutually profitable business opportunities. We have only ever exercised this same relationship with two other organizations in the history of POS."

Naturally Splendid chief executive officer Craig Goodwin states: "We are pleased to appoint Dr. Rick Green to the Naturally Splendid advisory board. Dr. Green will work closely with Naturally Splendid providing his extensive scientific expertise to create commercially viable ingredient and product opportunities in multiple commercial applications as requested by the Naturally Splendid's advisory board."

Dr. Green joined POS Bio-Sciences in 1989. As vice-president of technology, his responsibilities include supervision of technical staff and oversight of project leader activity. Prior to joining the senior management team in 2007, Dr. Green was a senior scientist at POS. His technical background includes process development in the area of extraction and purification of specialty oils, protein concentrates, protein isolates and polyphenol compounds. He has also developed numerous food and nutraceutical ingredients for POS clients. In addition to his work at POS, Dr. Green has held food scientist positions at food product development centers in Manitoba and Ontario, and the Alberta Honey Producers. He holds a PhD in food and bioproduct sciences from the University of Saskatchewan. Dr. Green is a member of the American Oil Chemists Society, Institute of Food Technology, and the Canadian Institute of Food Science and Technology.

POS services

POS will provide services and facilities to Naturally Splendid in the following multiple areas.

Research and development

Laboratory scale (up to five kilograms):

  • Bench-scale processing and research; scale-up to commercial scale;
  • Project analyses;
  • Analytical services.

Mini-pilot plant scale (five kilograms to 100 kilograms):

  • Supercritical fluid extraction;
  • Preparative-scale chromatography;
  • Laboratory- and pilot plant-scale services;
  • Emulate industrial processes.

Pilot plant scale (100 kilograms to multitonnes):

  • Extraction (solvent and non-solvent);
  • Desolventizing solids and liquids;
  • Drying;
  • Milling;
  • Purification: ultrafiltration, crystallization, solvent partitioning;
  • Fractionation: centrifugation, filtering/screening, winterization, air classification, solvent fractionation;
  • Modification: enzyme and chemical hydrogenation and hydrolysis.

Processing capability:

  • ISO 9001:2008 certification; NHP site licence; CFIA site licence; HACCP, GMP;
  • Six GMP-compliant pilot plant processing areas;
  • 12,500-square-foot dedicated commercial processing facility;
  • 11 laboratories for support;
  • Technical assistance along with a wide range of equipment options and processing expertise;
  • Full-time specially trained operators, process engineers, technicians, QA/regulatory and scientists;
  • Flexible production capacity;
  • Logistics and materials management support;
  • Guaranteed confidentiality.

Product development

Vice-president of operations Bryan Carson advises: "We have identified numerous potential revenue opportunities for our hemp-based products and technologies as well as omega-driven products and technologies. Forming a strong relationship with POS gives us access to world-class research and development team and highly accredited manufacturing facilities that multinational companies demand of their suppliers."

Mr. Carson adds: "For example, as identified earlier, beverages that appeal both to taste buds and offer healthy qualities continue to be the focus for many beverage processors. Emerging trends include the use of functional ingredients and beverages that serve multiple purposes with many overall health benefits and in many cases their nutrition is coming from vegetable and fruit sources. Our plant-based omega ingredients and technology are positioned to service this growing market and we are positioning ourselves to penetrate the functional beverage market incorporating the extensive expertise at POS."

Strategic plan moving forward

Mr. Goodwin summarizes: "Naturally Splendid has now assembled a comprehensive and diverse team of industry expertise. Through POS, we have secured world-class research and development as well as a highly accredited processing facility. In the last month, Naturally Splendid has retained an experienced board of directors and an advisory board with significant reach into food and beverage boardrooms, globally. Our immediate goal is to have our advisory board work closely with POS to identify immediate market opportunities for products and technologies with the objective of penetrating multiple product categories including food, cosmeceuticals, pet applications and feed ingredients. For example, beverages are the largest U.S. functional product sector, with sales growing by almost 10 per cent year on year from 2011 to 2012 to hit $27.8-billion (reference: 'What's driving functional food and beverage growth? Snacking, convenience, and consumer behavior,' by Stephen Daniells, Nov. 20, 2014). Globally, the functional beverage market is valued at $68-billion (reference: Natasha D'Costa, Asian Food Journal, Aug. 26, 2014). Our plans with an experienced team now in place is to penetrate these markets."

We seek Safe Harbor.

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