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Enter Symbol
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USA
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Naturally Splendid Enterprises Ltd
Symbol NSP
Shares Issued 51,705,633
Close 2015-06-04 C$ 0.48
Market Cap C$ 24,818,704
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ORIGINAL: Naturally Splendid Extends LOI with POS Holdings

2015-06-05 12:23 ET - News Release

(via Thenewswire.ca)


VANCOUVER, BRITISH COLUMBIA / TheNewswire / June 5, 2015 - Naturally Splendid Enterprises Ltd. (the " Company " or " NSP ") (FRANKFURT:50N) (TSX VENTURE:NSP) (OTC:NSPDF)
announces that the letter of intent (the " LOI ") with POS Holdings Corp. (" POS ") has been amended to extend the deadline for entry into a definitive agreement from May 31, 2015 to June 15, 2015. As announced on April 27, 2015, POS and NSP entered into the LOI to provide the basic terms and conditions on which the parties would enter into an agreement to purchase 51% of POS BPC Manufacturing Corp.

POS BPC Manufacturing Corp. operates a 12,000 square foot production facility (the " BPC Facility "). The BPC Facility contains ~60,000L of tankage, a fractional distillation system, evaporation equipment, spray drying equipment, a ring dryer and various other pieces of complementary & auxiliary equipment.

The BPC Facility is capable of processing a variety of products including the suite of plant-based omega technologies such as HempOmega(TM) licensed by FSL to Naturally Splendid. Additionally, the BPC Facility is designed to produce plant-based extracts, tinctures and dry ingredients for a variety of clients. The ability for Naturally Splendid to control its own processing is a significant strategic development. Additionally, the BPC Facility has the potential to generate revenue from clients who require toll processing specific to this type of facility.

The letter of intent also provides that Naturally Splendid and POS (or its subsidiaries) will enter into licensing and/or sales agreements whereby Naturally Splendid will have the right to market, on an exclusive basis, a minimum of five (5) products of POS (the " Exclusive Products ") and market, on a non-exclusive basis, additional products of POS (the " Non-Exclusive Products "). The ingredients included in this offering are of high quality sourced plant and marine extracts in the form of powder or oil. These ingredients are environmentally sustainable and promote good health and nutrition.

Naturally Splendid may integrate the extracts into their Natera(R) and Pawsitive FX(TM) retail products, as well as offer wholesale and bulk ingredients for global commercial distribution. The parties have agreed that the Exclusive Products and Non-Exclusive Products when possible will be manufactured at the BPC Facilities following closing of the transaction. Naturally Splendid will also have the right to have its product lines manufactured at the BPC Facility.

Under the extension agreement, POS has also agreed to exclusively negotiate with NSP up to June 15, 2015 and, in consideration of which, Naturally Splendid has agreed to deposit the cash portion of the purchase price, being CAD $1,750,000, into an escrow account (the "Escrowed Funds"). The release of the Escrowed Funds will be subject to closing the transaction.

The parties have agreed to close the proposed transaction by June 15, 2015. Closing of the transaction will be subject to a number of customary conditions as well as (i) TSX Venture Exchange acceptance of the transaction, (ii) completion of satisfactory due diligence by the parties, and (iii) POS obtaining the necessary third party consents to approve the transaction.

About Naturally Splendid
Naturally Splendid is a multifaceted, biotechnology company that is developing, commercializing, producing, selling and licensing an entirely new generation of hemp-derived, high quality, nutrient-dense Omega foods, nutritional foods, nutritional food enhancers, and related products. NSP is building an expanding portfolio of patents (issued and pending) and proprietary intellectual property focused on the commercial uses of Cannabis Sativa, industrial hemp, and non-psychoactive cannabinoid compounds in a broad spectrum of applications. The Company is currently innovating in four related industries: nutritional biotechnologies, cannabinoid pharmaceuticals and nutraceuticals, retail superfood and supplement consumer products (under NATERA(TM), a hemp foods line, and Pawsitive FX(TM), a pet care line (TM)), as well as a bulk ingredient division operating under the name BC Ingredients (BCI).

About POS Bio-Sciences
POS Bio-Sciences offers expertise and service in bioprocessing applied research from bench-top to commercialization scale. POS' focus is process development, analytical services, and custom processing as well as specializing in extraction, fractionation, modification and purification of biobased materials.

All POS Bio-Sciences processes are GMP-compliant and fully supported by quality assurance, commitment to regulatory compliance, and certification to international standards. POS' also offers a suite of support services to assist clients and ensure that project outcomes meet their needs and expectations.

POS Bio-Sciences is a registered business name of POS Management Corp.

For more information e-mail info@naturallysplendid.com or call 604-673-9573

On Behalf of the Board of Directors


J. Craig Goodwin

CEO, Director

Contact Information

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

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. T here is no guarantee that Naturally Splendid's plans will be found to be commercially viable; Naturally Splendid will complete the proposed acquisition of the BPC Shares ; Naturally Splendid's ability to compete with large food and beverage companies; sales of any 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.

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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