COMPANY NEWS ALERT
Naturally Splendid Establishes 100% Owned US-Subsidary in Colorado(ccnm)
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 22, 2014) -Naturally Splendid Enterprises (the "Company") (TSX VENTURE:NSP)(OTCQB:NSPDF)(FRANKFURT:50N) is pleased to announce the formation of a wholly-owned subsidiary in the state of Colorado in the United States of America. The name of the US Corporation is Naturally Splendid USA Ltd.
Naturally Splendid CEO Craig Goodwin states, "Forming a US subsidiary is an important strategic step for Naturally Splendid for several reasons. A U.S. subsidiary allows the Company to expand distribution of the existing 100% NATERA™ superfood brand to US retailers, as well as penetrate US markets more efficiently for the plant based omega products and technologies that we have exclusive marketing rights throughout North America for in an agreement that we secured with Boreal Technologies. As importantly, it is the first step in commercializing the cannabinoid technology that we are in advanced stages of negotiations on with Full Spectrum Labs as announced on July 16, 2014."
On January 1st 2014 Colorado became the first US state to open recreational marijuana stores and became the first place in the world where marijuana will be regulated from seed to sale. Retail marijuana will have a 25% state tax plus the usual state sales tax of 2.9%, making the additional revenue to the state initially amount to $67 million a year, with $27.5 million of it designated to build schools, state tax officials say.*
By making legalizing marijuana, Colorado has opened its doors to considerable research and development opportunities in the field of cannabinoids. A prominent cannabinoid present in marijuana and hemp is Cannabidiol (CBD) known for its multiple therapeutic, nutraceutical applications. More specifically, Cannabidiol, or CBD, is a compound in industrial hemp that potentially has significant medical benefits, but does not make people feel "high" and can actually counter the psychoactivity of THC.
The reduced psychoactivity of CBD-rich cannabis may make it an appealing nutraceutical product for individuals seeking anti-inflammatory, anti-pain, anti-fungal, anti-bacteria and/or anti-spasm effects without disconcerting lethargy or dysphoria. Because CBD is only sold as a medical marijuana product in Colorado, people have to be Colorado residents to obtain it.
The process to locate a corporate headquarters for the U.S. subsidiary of Naturally Splendid has already begun. The Company is fortunate that CFO Chuck Jenkins is very familiar with operating in the state of Colorado. Mr. Jenkins states, "Having worked for several years with a Colorado operating company, I have found the business environment, infrastructure and geographic location to be quite advantageous as a base for US operations." |
