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Naturally Splendid Enterprises Ltd. 02.03.2015

 

Former Pfizer Executive David Racz Appointed Director, Naturally Splendid Ltd and President of Naturally Splendid USA

 

VANCOUVER, British Columbia, March, 2 2015 - Naturally Splendid Enterprises (the "Company") (TSX-V:NSP) (OTCQB:NSPDF) (Frankfurt:50N) is pleased to announce the appointment of Mr. David Racz to the Board of Directors of the Company and as President of the Company's 100% owned subsidiary Naturally Splendid USA Ltd., based in Denver, Colorado. Mr. Racz will replace Mr. Charles Brink as President of the US subsidiary in order for Mr. Brink to focus his attention on his role and responsibilities as a Director of the parent Company Naturally Splendid Enterprises where his duties include; regulatory guidance; product development; and long term business strategies.
 

Naturally Splendid CEO Craig Goodwin advises, “Mr. Racz is a senior operations and general management executive with a distinguished career and demonstrated successes in both large matrix organizations as well as startups. He has extensive international operations experience and has worked in the pharmaceutical, consumer brands and retail industries. His expertise and guidance will be invaluable as we execute strategies to monetize the omega extraction and formulation technologies and cannabinoid extraction and formulation technologies recently licensed from Full Spectrum Laboratories”.

 

David Racz

Mr. Racz held global, senior-level positions with distinguished pharmaceutical companies including Pfizer, GlaxoSmithKline and Novartis. Mr. Racz began his pharmaceutical career in the late 1980s at Pfizer Pharmaceuticals where he became Vice President of Sales and Human Resources.  In addition to being tasked with overseeing all strategy, recruitment and management training, Mr. Racz managed the largest expansion in Pfizer’s sale force history. Shortly thereafter, SmithKlineBeecham recruited Mr. Racz to manage over 4,000 employees in 20 countries throughout Asia, Latin America, Australia and South Africa in Sales, Marketing and Research and Development.  Mr. Racz was also a key member of the team responsible for orchestrating the unparalleled transcontinental merger of SmithKline and Beecham.  In 2002, Mr. Racz was recruited by Novartis Pharmaceuticals as Senior Vice President HR. In this capacity he delivered HR strategy and resource allocation for an $8 billion health care company and oversaw 14,000 global employees in Pharmaceutical Operations, Global Oncology, Manufacturing and R&D. Mr. Racz was Senior Vice President for Mona Vie Inc. ("Mona Vie"), the fastest growing private company in the food and beverage industry incorporated in 2003 with annual sales in excess of $942 million and growth of over 100% per quarter for a three year period.

 

In addition, Mr. Racz has been responsible for leading human resource teams, sales and marketing teams and operating entities. He has served on various boards of both private and public companies. His primary areas of expertise reside in aligning business strategy with operational strategy, management systems, as well as merger and acquisition related activities.  Mr. Racz has several years of experience in the network marketing industry working on the corporate level as well as with some of the most successful distributors to participate in the industry. Mr. Racz has served on various boards of both private and public companies.  He served in the United States Army as a helicopter pilot, achieving the rank of Major and earned his BS from Wayne State University and his MS from Troy State University

 

Mr. Racz's appointment as President of Naturally Splendid USA comes following the recently completed agreement with Full Spectrum Laboratories Limited (FSL) headquartered in Dublin, Ireland, to license FSL's cannabinoid extraction and patented formulation technologies. The license grants Naturally Splendid USA worldwide rights to a suite of advanced cannabinoid technologies, including the first issued USPTO patent for water-soluble cannabinoids, essential for the development and manufacturing of cannabinoid-based nutraceutical and pharmaceutical products and therapies. The license will allow Naturally Splendid USA to create products and industrial solutions in those countries and jurisdictions that permit manufacturing and distribution of cannabinoid-based products.

 

Cannabidiol (CBD) is arguably becoming the most sought-after cannabis compound due to its medicinal and nutraceutical properties:

 

         Non-psychoactive

         Anticonvulsant

         Anti-epileptic

         Anti-inflammatory

         Antioxidant

         Antipsychotic

         Neurological protection

 

"As President of Naturally Splendid USA, my focus will be directed towards creating and implementing business strategies to leverage the omega extraction/formulation technologies,and cannabinoid extraction/formulation technologies in order to secure recurring, profitable revenue streams" states Mr. Racz, "I will be responsible for long term strategic planning, development of a professional management team, regulatory compliance and the creation of its manufacturing and distribution infrastructure in the United States in order to prepare for the launch of hemp extracted cannabinoid formulated products and services in 2015."

 

About Naturally Splendid Enterprises Ltd.

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 are available in both a powder format and an aqueous solution for increased flexibility in ingredient applications and stand-alone products.

 

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.

 

About Full Spectrum Labs Limited.

Full Spectrum Laboratories, LTD. Incorporated in Ireland, is a bioresearch and product development company with operating subsidiaries in Canada and the United States. The company has principally focused on the plant cannabis sativa and has developed numerous technologies and made several discoveries resulting in two granted patents and over 11 patent applications, in just under 5 years. FSL currently concentrates on formulation and extraction technologies; analytical cannabis testing in Canada; advance cannabis plant breeding specializing in CBD expression; and cannabinoid bio-synthesis.

 

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)

2435 Beta Avenue
Burnaby, BC, V5C 5N1

Phone: (604) 570-0902

Fax:     (604) 570-0934

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. 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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