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Naturally Splendid Enterprises (CVE:NSP)(OTCQB:NSPDF) has secured its agreement to license hemp and cannabinoid extraction and formulation technologies, positioning the company to capitalize on global growth trends in industrial hemp and marijuana products.
In a statement released after market Thursday, Naturally Splendid said its US subsidiary signed a "novation agreement" with Dublin-based Full Spectrum Laboratories and sister company Boreal Technologies.
Under the terms, Naturally Splendid will pay $725,000 to Boreal and will issue to Full Spectrum a number of shares equal to $1.025 million, divided by the greater of 35 cents of a 20 percent premium above the closing price on closing of the transaction.
Naturally Splendid will gain access to a worldwide license to manufacture, commercialize and sell products based on Full Spectrum's proprietary technology, both on an exclusive and non-exclusive basis.
It will have exclusive access to the hemp oil and cannibinoid formulation technology and the omega formulation technology, among others. In consideration, Naturally Splendid will also have to pay Full Spectrum a 4.5 percent gross revenue royalty on a quarterly basis.
The deal includes a license to the first issued US patent for water-soluble cannabinoids --- a major part of Naturally Splendid's plan to develop and sell cannabinoid-based nutraceutical and pharmaceutical products and therapies.
The initial suite of commercial hemp-based cannabinoid nutraceutical products will include micro-encapsulated hemp oil drops with high cannabidol (CBD) expression, CBD-based soaps, lip balms and skin creams, and hemp-extracted, cannabinoid-based functional beverages.
There are more than 80 cannabinoids in industrial hemp and marijuana, with one of the most prominent and sought-after known as CBD. The cannabis compound is appealing because of its non-psychoactive, anti-inflammatory and anti-epileptic effects, meaning patients can benefit without lethargy or dysphoria.
"This transaction is a major milestone for Naturally Splendid," said chief executive officer Craig Goodwin in the release.
"The technologies we have secured under this agreement allows Naturally Splendid to develop, market and distribute functional foods and ingredients related to oil and protein extraction.
"As well, there is increasing demand for cannabinoid formulation technology that allows for more measurable, efficacious products as market trends indicate patients are looking for alternative ways to consume their medical marijuana prescriptions other than smoking.
"To address this growing trend, Naturally Splendid will develop, market and distribute water soluble cannabinoid products and technologies in jurisdictions where these products are legal, beginning with the US market."
After the initial launch of the suite of products in early 2015, the companies are planning to develop topical pain ointments, a hemp-derived CBD supplement and sun block lotions, they said. None of the products will include THC, another prominent cannabinoid, with the companies focusing instead on using water-soluble cannabidiols.
Separately, Naturally Splendid also said Thursday it will be seeking to raise $1.5 million through a private placement financing, terms of which will be disclosed at a later date.
The closing of the license agreement is subject to the completion of the financing as well as to regulatory approvals.
Naturally Splendid’s 100% owned NATERA™ line of hemp-based superfood products are carried nationwide by Canada’s leading health food distributors and a network of retail stores across Canada including major retailers and specialty stores. Naturally Splendid's 100% owned "NATERA™" line of products includes natural and flavored shelled hemp seeds as well as natural and flavored hemp protein powders.
Naturally Splendid has an exclusive sales agreement to market and distribute, in North America, the full complement of patent pending, plant-based omega products created by Boreal Technologies. The products include HempOmega™ and H2Omega™, as well as the FlaxOmega™, CanolaOmega™, and ChiaOmega™ plant based omega products. These novel products utilize microencapsulation and liposome technologies and are available in both a powder format and an aqueous solution for increased flexibility in ingredient applications and stand-alone products.
For more information e-mail [email protected] or call 604-559-8051
http://www.proactiveinvestors.com/c...-hemp-and-cannabinoid-technologies-58309.html
In a statement released after market Thursday, Naturally Splendid said its US subsidiary signed a "novation agreement" with Dublin-based Full Spectrum Laboratories and sister company Boreal Technologies.
Under the terms, Naturally Splendid will pay $725,000 to Boreal and will issue to Full Spectrum a number of shares equal to $1.025 million, divided by the greater of 35 cents of a 20 percent premium above the closing price on closing of the transaction.
Naturally Splendid will gain access to a worldwide license to manufacture, commercialize and sell products based on Full Spectrum's proprietary technology, both on an exclusive and non-exclusive basis.
It will have exclusive access to the hemp oil and cannibinoid formulation technology and the omega formulation technology, among others. In consideration, Naturally Splendid will also have to pay Full Spectrum a 4.5 percent gross revenue royalty on a quarterly basis.
The deal includes a license to the first issued US patent for water-soluble cannabinoids --- a major part of Naturally Splendid's plan to develop and sell cannabinoid-based nutraceutical and pharmaceutical products and therapies.
The initial suite of commercial hemp-based cannabinoid nutraceutical products will include micro-encapsulated hemp oil drops with high cannabidol (CBD) expression, CBD-based soaps, lip balms and skin creams, and hemp-extracted, cannabinoid-based functional beverages.
There are more than 80 cannabinoids in industrial hemp and marijuana, with one of the most prominent and sought-after known as CBD. The cannabis compound is appealing because of its non-psychoactive, anti-inflammatory and anti-epileptic effects, meaning patients can benefit without lethargy or dysphoria.
"This transaction is a major milestone for Naturally Splendid," said chief executive officer Craig Goodwin in the release.
"The technologies we have secured under this agreement allows Naturally Splendid to develop, market and distribute functional foods and ingredients related to oil and protein extraction.
"As well, there is increasing demand for cannabinoid formulation technology that allows for more measurable, efficacious products as market trends indicate patients are looking for alternative ways to consume their medical marijuana prescriptions other than smoking.
"To address this growing trend, Naturally Splendid will develop, market and distribute water soluble cannabinoid products and technologies in jurisdictions where these products are legal, beginning with the US market."
After the initial launch of the suite of products in early 2015, the companies are planning to develop topical pain ointments, a hemp-derived CBD supplement and sun block lotions, they said. None of the products will include THC, another prominent cannabinoid, with the companies focusing instead on using water-soluble cannabidiols.
Separately, Naturally Splendid also said Thursday it will be seeking to raise $1.5 million through a private placement financing, terms of which will be disclosed at a later date.
The closing of the license agreement is subject to the completion of the financing as well as to regulatory approvals.
Naturally Splendid’s 100% owned NATERA™ line of hemp-based superfood products are carried nationwide by Canada’s leading health food distributors and a network of retail stores across Canada including major retailers and specialty stores. Naturally Splendid's 100% owned "NATERA™" line of products includes natural and flavored shelled hemp seeds as well as natural and flavored hemp protein powders.
Naturally Splendid has an exclusive sales agreement to market and distribute, in North America, the full complement of patent pending, plant-based omega products created by Boreal Technologies. The products include HempOmega™ and H2Omega™, as well as the FlaxOmega™, CanolaOmega™, and ChiaOmega™ plant based omega products. These novel products utilize microencapsulation and liposome technologies and are available in both a powder format and an aqueous solution for increased flexibility in ingredient applications and stand-alone products.
For more information e-mail [email protected] or call 604-559-8051
http://www.proactiveinvestors.com/c...-hemp-and-cannabinoid-technologies-58309.html
