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Naturally Splendid Appoints Dave Eto as Chief Executive Officer

VANCOUVER, British Columbia, Nov. 29, 2016 (GLOBE NEWSWIRE) -- Naturally Splendid Enterprises Ltd. (“Naturally Splendid”) (FRANKFURT:50N) (TSX-V:NSP) (OTC:NSPDF) is pleased to announce, effective December 5, 2016, Mr. Dave Eto will be appointed as Chief Executive Officer and a member of the Board of Directors of the Company. Mr. J. Craig Goodwin will step down as Chief Executive Officer and will remain as President and on the Board of Directors.

Mr. Eto has spent over 30 years in the food processing industry and recently served as Executive Director and Chief Executive Officer of the BC Dairy Association. Dave was responsible for the overall management of the BC Dairy Association, including communicating with hundreds of farmers, working with various governmental departments as well as developing many of the marketing initiatives launched during his term. Previously, Dave held a senior corporate position with Premium Brands Holdings, which is a company listed on the TSX and is a Canada-based producer, marketer and distributor of specialty food products. Dave has also held the position of President and Chair of the BC Food Processors’ Association for the past five years and has many contacts within the government, academia and the food processing industry.

Mr. Dave Eto states, “I have seen Bryan and Craig grow Naturally Splendid from humble beginnings to a vibrant and growing business. I am thrilled to now play a larger role as CEO and work with the Naturally Splendid team, its customers, suppliers and shareholders and to contribute to the future success. I am confident that my skill set and familiarity with the assets, resources and strategies of Naturally Splendid, will provide the necessary foundation for a bright future. The Company has a good balance between cash flowing opportunities, processing capacity, existing retail lines as well as unique proprietary technologies and products such as HempOmega that create numerous opportunities to move the Company forward. I am looking forward to deploying my experience, resources and contacts to maximize those opportunities."

Mr. Craig Goodwin states, “Throughout his career Dave has been a strong advocate of the food processing sector. He has significant experience in operational, sales & marketing and manufacturing in a variety of foods including dairy, bakery and ready to eat products. Dave’s strength revolves around strategic execution. His skill set and experience allows Naturally Splendid to better optimize our assets. Not just the POS Bio Processing Centre, our packaging lines, distribution centre, technologies and retail lines, but our people assets as well.”

Mr. Goodwin in his position as President will now focus his attention to business development and sales & marketing. Mr. Goodwin states, “Having Dave as CEO allows me to focus in the areas where my skill set is strongest. I can now focus on opportunities to increase exports, secure wider distribution of our existing retail lines, monetize our omega technologies starting with HempOmega and expend more efforts in the evolving cannibidiol markets. Dave’s assistance in strategic execution will be invaluable in all these areas.”

Company co-founder Mr. Bryan Carson adds, “Our business relationship with Dave goes back to the very beginnings of Naturally Splendid. Dave has been a mentor to Craig and myself until he joined the Advisory Board last year. We are most fortunate to have an individual with the qualifications of Dave and who has an intimate familiarity with the Company, its personnel and the opportunities ahead of us. Craig and I welcome Dave to Naturally Splendid.”

In connection with Mr. Eto’s appointment as Chief Executive Officer, Naturally Splendid entered into a consulting agreement with Mr. Eto. Under the terms of the consulting agreement, Mr. Eto will serve as Chief Executive Officer for a period of four years and, in consideration of which, Naturally Splendid will pay Mr. Eto $16,000 per month. As additional consideration, Naturally Splendid has agreed to issue 1,000,000 common shares as restricted share units to be issued as follows: (i) 100,000 shares on TSX Venture Exchange acceptance, and (ii) 150,000 common shares every six months thereafter.

About Naturally Splendid Enterprises Ltd.

Naturally Splendid is a multifaceted biotechnology company that is developing, producing, commercializing, and licensing an entirely new generation of plant-derived, bioactive ingredients, nutrient dense foods, and related products. Naturally Splendid is building an expanding portfolio of patents (issued and pending) and proprietary intellectual property focused on the commercial uses of industrial hemp and non-psychoactive cannabinoid compounds in a broad spectrum of applications.

Naturally Splendid currently has six innovative divisions: (1) Natera® brand of retail hemp superfood products currently distributed throughout North America and Asia; (2) Chi Hemp Industries Incorporated (Chii) is selling natural and organic hemp products through e-commerce (3) PawsitiveFX® brand of pet care products; (4) Simpli Plant-Based Ingredients Division of plant-derived bulk ingredients including patent-pending HempOmega®; (5) The 12,000-square-foot POS / BPC Facility - which is managed for Naturally Splendid by POS Bio-Sciences - is positioned to offer commercial-scale custom processing solutions for biological materials, such as functional foods and natural health ingredients to a wide range of clients (6) hemp-based cannabinoid nutraceuticals. The Company's advanced technologies, industry expertise, and strategic partners allow for the creation of customized solutions with a consistent focus on quality and sustainability.

For more information e-mail info@naturallysplendid.com or call 604-673-9573

On Behalf of the Board of Directors

J. Craig Goodwin
CEO, Director

Contact Information
Naturally Splendid Enterprises Ltd.
(NSP – TSX Venture; NSPDF – OTCQB; 50N Frankfurt)

Naturally Splendid Enterprises Ltd.
#108-19100 Airport Way,
Pitt Meadows, BC V3Y 0E2
Office: (604) 465-0548
Fax: (604) 465-1128
E-mail: info@naturallysplendid.com
Website: www.naturallysplendid.com

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 including, the Naturally Splendid's ability to compete with large food and beverage companies; sales of any potential products developed will be profitable; sales of shelled hemp seed will continue at existing rates or increase; the ability to complete the sales of all bulk hemp seed purchase orders; and the risk that any of the potential applications may not receive all required regulatory or legal approval. 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.


Source:Naturally Splendid