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Naturally Splendid Obtains Professional Valuation for 100% Owned Prosnack Division

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In the relatively short time since acquiring Prosnack, Naturally Splendid has achieved several milestones including relocating Prosnack’s operations from North Vancouver to its Pitt Meadows facility, investing approximately $2 million over the past 12 months to increase production capacity by more than five-fold, successfully launching Natera Sport KEY-TO-LFE keto friendly bars, and securing a roster of significant contract manufacturing clients.

Additional Information:

Company: Naturally Splendid Enterprises
Website: http://www.naturallysplendid.com
Stock Symbol: TSXV: NSP
Date Published: Dec 13, 2019
Transcript: Available

Video Transcript:

I’m Fiona Forbes for InvestmentPitch Media

Naturally Splendid Enterprises has released a professional valuation for its 100% owned Prosnack Natural Foods Division.

Naturally Splendid is a healthy food, hemp product developer and large-scale producer for in-house brands as well as a provider of contract manufacturing services for many global healthy food companies, privately labelling a wide variety of nutritional food products destined for global distribution.

In the relatively short time since acquiring Prosnack, Naturally Splendid has achieved several milestones including
relocating Prosnack’s operations from North Vancouver to its Pitt Meadows facility, investing approximately $2 million over the past 12 months to increase production capacity by more than five-fold, successfully launching Natera Sport KEY-TO-LFE keto friendly bars, and securing a roster of significant contract manufacturing clients.

Capacity is now capable of producing up to 2,150,000 bars and bites per month on a single shift of 5 days a week, which can be increased to up to 5 million bars and bites by extending shifts and adding extra days per week.

The company is currently reviewing a $150,000 packaging system that will increase capacity by 30%.

Following the standards set out by the Canadian Institute of Chartered Business Valuators, RwE Growth Partners, Inc., determined that given the assumptions provided by management, the fair market value of Prosnack is in the range of $11.1 million.

The assumptions utilized in the valuation have not been tested by RwE, and RwE has not audited or reviewed the cash flow forecasts that form the basis of the assumptions.

RwE has also assumed that Prosnack will have sufficient capital to expand its operations to meet its cash flow forecasts.

Craig Goodwin, CEO, stated: "We are pleased with this affirmation that our strategic plan has resulted in this valuation for Prosnack. Building out Prosnack has been a primary focus for the past year since acquiring the business in August of 2017. We have been successful launching our own company branded products, while at the same time building our roster of contract manufacturing clients, which includes well recognized brands including those that are identified on the Profit 100 Canada's Fastest Growing Companies. We anticipated there could be a pullback in the MJ space and have gone about building a 'business inside of a business', that is positioned to service the plant-ingredient based nutritional market, while remaining available to service the edible markets upon securing licensing.”

Naturally Splendid has established numerous healthy, functional foods under recognized brands such as Natera Sport™, Natera Hemp Foods, CHII™, Elevate Me™ and Woods Wild Bar.

The company has a myriad of new products and line extensions under development that are approaching launch. The company has also developed proprietary technologies for the extraction of high demand, healthy omega 3 and 6 oils from hemp.

Pending receipt of appropriate licensing and regulations in permitting jurisdictions, the company’s current production facilities will be one of a few facilities capable of meeting the demand for infused edibles and oils for both in-house and contract manufacturers' brands.

The shares are trading at $0.065.

For more information please visit the company’s website www.naturallysplendid.com, or contact Craig Goodwin, CEO, at 604-465-0548 or email info@naturallysplendid.com.

I’m Fiona Forbes for InvestmentPitch Media