Naturally Splendid Completes $1.37 Million Private Placement Financing
29 Abril 2014 - 9:30AM
Marketwired
Naturally Splendid Completes $1.37 Million Private Placement
Financing
BURNABY, BRITISH COLUMBIA--(Marketwired - Apr 29, 2014) -
Naturally Splendid Enterprises (the "Company")
(TSX-VENTURE:NSP)(FRANKFURT:50N) is pleased to announce that it has
completed its previously announced private placement financing by
issuing a total of 6,843,500 units ("Units") at $0.20 per Unit for
gross proceeds of $1,368,700.
Each Unit is comprised of one common share of Naturally Splendid
and one-half of one common share purchase warrant (each whole share
purchase warrant a "Warrant"), with each whole Warrant entitling
the holder to purchase one additional common share at $0.30 per
share for a period of two years from the date of the issue.
Naturally Splendid will have the right to accelerate the expiry
date of the Warrants if, at any time, the average closing price of
Naturally Splendid's common shares is equal to, or greater than
$0.40 for 10 consecutive trading days. In the event of
acceleration, the expiry date will be accelerated to a date that is
30 days after Naturally Splendid issues a news release announcing
that it has elected to exercise this acceleration right.
In connection with the proceeds raised under the financing,
Naturally Splendid paid finders cash commissions totaling $81,530
and issued finders 382,650 non-transferable warrants. Each finder's
warrant is exercisable on the same terms as the Warrants described
above.
The securities issued under the financing will be subject to a
hold period expiring on August 26, 2014 pursuant to applicable
Canadian securities laws and the rules of the TSX Venture
Exchange.
The net proceeds of the financing will be used for equipment and
facilities, inventory financing, US and Canadian regulatory filings
as well as general corporate purposes.
About Naturally
Splendid Enterprises Ltd.
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 info@naturallysplendid.com or call
604-559-8051.
On Behalf of the Board of Directors
J. Craig
Goodwin, CEO, Director
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.
Such factors include, among other things: risks and uncertainties
relating to Naturally Splendid's ability to complete proposed
private placement financing. 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.
Naturally Splendid Enterprises Ltd.(604) 559-8051(604)
570-0934info@naturallysplendid.comwww.naturallysplendid.com
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