Vancouver, British Columbia--(Newsfile Corp. - April 26, 2018) - Naturally Splendid Enterprises (TSXV: NSP) (FSE: 50N) (OTCQB: NSPDF) has acquired Absorbent Concepts Inc. ("ACI"), an organic hemp processor, located in Abbotsford, British Columbia.
Douglas Mason, CEO, stated: "The acquisition of ACI represents a major milestone for Naturally Splendid creating a critical link in becoming a truly vertically integrated, industrial hemp biotech and consumer products company. In addition to capturing more value chain margin with our existing industrial hemp lines, the addition of the expertise within ACI strengthens our Dealer License application and provides significant resources as we continue on the path to add a cannabinoid extraction facility."
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The company announced in February that it would be applying to become a Licensed Dealer of cannabis extracts under Canadian regulations, to legally possess regulated substances such a cannabidiol (CBD) for the purposes of formulating, manufacturing, distributing, as well as importing and exporting.
Absorbent Concepts Inc., doing business as ACI Foods, is a science-based, industrial hemp seed processing business. Listed as the only strictly organic hemp seed processor in North America, ACI is a significant producer of hulled seed, hemp seed oil and high percentage protein powder, sold under the OmegaVida brand, with plans to expand to provide a full range of conventional hemp products.
In business since November 2013, ACI was conceived by Pete Scales, an entrepreneur, inventor/R&D specialist, applied scientist, lecturer and long-time believer in the power and many gifts of hemp, including full plant utilization, which in turn includes cannabinoid extraction. In addition to a wealth of hemp processing knowledge and experience, the ACI team brings to NSE a substantial body of technical expertise in cannabinoid extraction, nutritional product development, laboratory analysis, as well as long-standing contractual relationships with farmers.
These relationships will be leveraged to forge secure supply agreements for organic and conventional industrial hemp for the traditional seed harvest, and also for new opportunities in CBD cultivation following anticipated revisions to the Canadian Cannabis Act later this year.
According to a recent article published by Hempster (www.hempster.co), "Hemp is a much richer source of CBD than marijuana, and it makes economic sense to extract CBD from this abundant crop. Currently, Canadian farmers are forced to destroy the leaves and flowers of their hemp plants. But this will all change when the Cannabis Act comes into effect, likely in the late summer or fall of 2018. Once enacted, hemp farmers will be able to sell their crops to licensed producers for CBD extraction."
Russell Crawford, Naturally Splendid Director and President of the Canadian Hemp Trade Alliance, stated: "As holders of a Dealers License, Naturally Splendid will be positioned to leverage the upcoming whole plant utilization regulations. ACI's relationship with farmers is a great catalyst in securing acreage for CBD production."
The Hemp Business Journal estimated that the CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources, a 700% increase from 2016.
Naturally Splendid is a biotechnology and consumer products company that is developing, producing, commercializing, and licensing an entirely new generation of plant-derived, bioactive ingredients, nutrient dense foods, and related products.
For more information please visit the company's website www.naturallysplendid.com, or contact investor relations at 604-673-9573 or email info@naturallysplendid.com.
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