COMPANY NEWS ALERT
Naturally Splendid Announces Proposed Private Placement Financing (ccnm)
BURNABY, BRITISH COLUMBIA--(Marketwired - April 9, 2014) -Naturally Splendid Enterprises (the "Company") (FRANKFURT:50N)(TSX VENTURE:NSP) is pleased to announce that its board of directors have approved a proposed private placement offering of a minimum of 2,500,000 units up to a maximum of 7,500,000 units (the "Units") at a price of $0.20 per Unit for minimum gross proceeds of $500,000 and up to maximum gross proceeds of $1,500,000 (the "Offering").
Each Unit will be 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 $0.40 for 10 consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 30 days after Naturally Splendid issues a news release announcing that it has elected to exercise this acceleration right.
The Offering will be completed to "accredited investors" pursuant to National Instrument 45-106 - Prospectus and Registration Exemptions ("NI 45-106") and to existing security holders pursuant to BC Instrument 45-534 -Exemption from prospectus requirement from certain trades to existing security holders ("BCI 45-534"). The Offering of securities pursuant to 45-534 is being made to existing security holders who held shares of Naturally Splendid on April 7, 2014 (the "Record Date").
Naturally Splendid plans to use the gross proceeds of the Offering as follows:
| Minimum Gross
Proceeds
($) | Maximum Gross
Proceeds
($) | | Equipment and Facilities | 100,000 | 250,000 | | Inventory Financing | 100,000 | 250,000 | | US and Canadian Regulatory Filings | 150,000 | 150,000 | | General Corporate Purposes | 150,000 | 850,000 | | Total | 500,000 | 1,500,000 |
In the event that Naturally Splendid receives subscriptions above the maximum, Naturally Splendid will adjust the subscriptions received on a pro-rata basis.
Subject to TSX Venture Exchange approval, Naturally Splendid may pay finders a fee consisting of cash and warrants from the proceeds of the proposed Offering.
Closing of the proposed Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.
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™ andH2Omega™, as well as theFlaxOmega™, CanolaOmega™, andChiaOmega™ 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-mail604-559-8051.
On Behalf of the Board of Directors
J. Craig Goodwin, CEO, Director |
