|By Marketwired .||
|March 11, 2014 10:03 AM EDT||
BURNABY, BRITISH COLUMBIA -- (Marketwired) -- 03/11/14 -- Naturally Splendid Enterprises Ltd. (TSX VENTURE: NSP)(FRANKFURT: 50N) - The Company is pleased to announce the achievement of a significant milestone in the product development and scale up production of Boreal Technology's HempOmega and H2Omega. Boreal has successfully completed the first pilot scale production run of HempOmega. The success of this pilot scale production run enables Naturally Splendid the ability to offer commercial sized production quantities of HempOmega and H2Omega. Naturally Splendid has exclusive rights to market Boreal's full range of plant based omega products throughout North America.
"This latest development signals our first foray into the ingredient market for Naturally Splendid" states CEO, Craig Goodwin. "Up to now our focus has been on our NATERA retail product, but this exciting announcement now means we can broaden our own retail product line to include this sophisticated technology as well as make it available to ingredient suppliers across North America. This is a very exciting and pivotal day for both companies."
Naturally Splendid has begun the development of a retail plant-based omega line centered on the Boreal technology, which will compete in the lucrative omega nutrition market. This addition to the Company's existing line will be marketed and distributed through the distribution network, which includes internal sales, Purity Life (with a reach over 7,000 retail outlets) and Summit Specialty Foods (who service over 900 clients). In addition, Naturally Splendid will facilitate discussions between Boreal's scientists and the end use marketplace to begin customized product development utilizing Boreal's encapsulation process.
The Products - Plant Based Omega Nutrition
The products covered in the Exclusive Sales Agreement between the parties are HempOmega, H2Omega, FlaxOmega, CanolaOmega and ChiaOmega. These novel products utilize microencapsulation as well as liposomal formulation and will be available in both the powder format and an aqueous solution for increased flexibility with regard to ingredient applications and/or stand-alone products.
Developed by Boreal, these proprietary omega formulations utilize both microencapsulation as well as liposomal formulation in the delivery process to the human digestive system. Preliminary testing has confirmed that these products offer increased bioavailability and sustainability by encapsulating lipids and transforming the insoluble ingredients into a stable aqueous suspension. The suspended particles can then be used in a liquid state or converted into a fine, flour-like, dry powder ingredient. This procedure allows for multiple methods of product implementation: capsules, powders, baked goods, beverages, etc. with precise control over formulation, dosage and uptake. This technology creates value-added ingredients and expands the market potential for oil-based substances which can prove challenging to formulate.
The Nutrition Market
The omega nutritional market is arguably the largest supplement market category in terms of dollars generated annually.
According to Nutrition Business Journal data, raw material sales are hovering around the $250 million mark thus far in 2013.
Packaged Facts puts the omega-3 products market at about $24.4 billion (EUR19 billion) in 2011.
According to Packaged Facts, a 2010 Gallup study of nutrient knowledge and consumption found that in 2011, 34% of shoppers chose products because of their omega-3 content.
Frost & Sullivan, a global growth consulting firm, believes the global omega-3 ingredient market grew to $1.89 billion in 2011, up from $1.68 billion in 2010. Double-digit growth is forecast from 2012 to 2016.
According to Euromonitor International, the retail value sales of foods (including milk formula) and drinks with added omega fatty acids reached $30 billion in 2012.
Sales of foods/beverages carrying an omega-3 claim reached $1.8 billion in U.S. supermarkets in 2011 (Nielsen, U.S. Healthy eating trends: part 1. Jan. 26. 2011.)
In an Ipsos Reid survey conducted by BioAccess, Canadian respondents showed that a full 80% of Canadians are influenced to buy a product if it contains omega-3 fatty acids. Additionally, the survey found that 45% of all Canadians have used, or are currently using, omega-3 fatty acids in a natural health product format. And in the U.S., the Hartman Group found that 52% of Americans stated that they are attempting to increase omega-3 ingredients in their diets.
Craig Goodwin, Naturally Splendid CEO summarizes, "Consumer demand for omega-3 fatty acids has increased substantially since 2005. In Canada alone, there has been a 1,766% growth in consumption of omega-3 natural health products since 2005 according to studies conducted by Ipsos-Reid. Naturally Splendid has the right product, for the right market at the perfect time".
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 recently rebranded "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.
About Boreal Technologies Inc.
Boreal Technologies Inc. ("Boreal") is a privately owned Canadian company located on the University of British Columbia campus in Vancouver, B.C. Boreal provides pilot manufacturing and process/product development for Omega fatty acids with an initial focus on industrial hemp. These technologies have been developed from active studies over the past few years and Boreal has been able to identify commercial applications for these technologies in the nutraceutical and pharmaceutical industries. This has led to new applications for selected food products that can incorporate these new forms of industrial hemp and other omega rich oils.
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 sales of and develop new products of HempOmega and H2Omega and successfully incorporate HempOmega and H2Omega in its existing product line. 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.
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