Naturally Splendid Reports Year-End Results for 2021

VANCOUVER, BC / ACCESSWIRE / June 30, 2022 / Naturally Splendid Enterprises Ltd. ("Naturally Splendid", "NSE" or "the Company") (FRANKFURT:50N) (TSXV:NSP) (OTC PINK:NSPDF) announces its audited financial results for the year ended December 31, 2021. All amounts are in Canadian dollars and are prepared in accordance with International Financial Reporting Standards.

Naturally Splendid Chief Financial Officer Mr. George Ragogna states, "The company continues to focus on reducing operating overheads while we continue to re-purpose our existing certified food facility in Pitt Meadows, BC to optimize production of plant-based entrees. We have made positive strides for the Company in several areas including securing an exclusive ten (10) year manufacturing and distribution agreement for Canada with Flexitarian Foods Pty. Ltd, Australia's largest plant-based manufacturer. This 10-year exclusive manufacturing agreement can be extended for a further ten (10) year period.

The facility build-out will allow for the production of up to twenty (20) tons of plant-based entrees daily for the majority of our standard plant-based offerings, but as much as thirty (30) tons of plant-based production daily for certain products. This translates to a manufacturing capacity potential of over $30,000,000 CDN annually. Our manufacturing facility remains a cornerstone to the future of the Company as we expect to drive revenue from not only our Company branded products, but also through private label and contract manufacturing clients.

Ragogna continues, "The Company is focused on penetrating the plant-based market both in food service and retail channels. Initially, the Company focused on food service, developing a network of distributors that include national distribution partners such as Sysco Canada and Gordon Food Services (GFS). The Company recently engaged one of Canada's leading foodservice brokers, Tri-Elite Marketing to represent Plantein^TM across Canada. Food service was our initial focus, producing successes such as a national listing for our plant-based nuggets and tenders with Denny's Canada and Bar One restaurants".

The Company recently launched Plantein^TM, the Company's retail line of plant-based entrees. In this regard, the Company has secured exclusive rights for the Plantein^TM trademark for Canada from Flexitarian Foods. The term for licensing the Plantein^TM trademark is for ten (10) years with a ten (10) year renewal option, matching the term of the exclusive manufacturing and distribution agreement from Flexitarian Foods. Our initial Plantein^TM launch focuses on eight (8) plant-based entrees including a plant-based; Burger; Crispy Burger; Crumbed Tenders; Sweet Chili Tenders; Nuggets; Schnitzel (cutlet); Garlic Kiev; and the Phishy Fillet.