Naturally Splendid Enterprises has entered into a definitive agreement dated July 5, 2019 to acquire all of the issued and outstanding shares of AlternaMedz Canada Holdings, a company located in Markham, Ontario with a late stage application in the Confirmation of Readiness stage before Health Canada to obtain a standard cultivation, processing and federal sales-medical license under the Cannabis Act (Canada).
According to the company, the benefits of the transaction are:
- Expansion into CBD Infused Products. The AlternaMedz acquisition will position Naturally Splendid in the rapidly expanding CBD market opportunities whether that be crude oils, distillates; or isolates. Additionally, within the AlternaMedz application, are the necessary licenses for the manufacturing of cannabis-infused edibles, which in our case, will focus on a variety of CBD-infused products.
- Creates a Vertically Integrated Edible Products Company. Due to Naturally Splendid’s extensive experience in the production, distribution and sale of hemp-based products, the acquisition will create a vertically integrated entity for the production and ultimate sale of edible products. Naturally Splendid has already received interest from a multitude of clients seeking a Contract Manufacturer to produce safe, efficacious CBD edibles under their brands, including inquiries from existing clients who Naturally Splendid produces various products for at the Pitt Meadows facility.
- Accelerates Licensing Process. AlternaMedz is a late stage applicant at the ‘Confirmation of Readiness’ stage. AlternaMedz has leased five (5) acres in Innisfil, Ontario, including a 26,000 square foot, free-standing building that will be home to a state of the art Cannabinoid Extraction and Processing Centre. The proposed acquisition will expedite Naturally Splendid’s goal to service the edibles market as a vertically integrated company.
- AlternaMedz Has a Seasoned Entrepreneurial Team. AlternaMedz brings a seasoned team of successful entrepreneurs led by Mr. Roy Khan. Mr. Khan has had several successful ventures including co-founder of AIM PowerGen Corporation, a renewable energy developer that has built over $2.2 billion worth of projects, and is a founder of RAWMEDZ Inc., a company establishing itself as Jamaica’s premier cultivator and distributor of high-grade organic cannabis. Their flagship cultivation site in partnership with Jamaican based College of Agriculture, Science and Education was recently awarded its final approval by the Cannabis Licensing Authority of Jamaica. Other key senior personnel from the AlternaMedz team will be joining the Naturally Splendid team to oversee the buildout and operations of the Ontario cannabinoid extraction and processing facility.
Naturally Splendid President Mr. Craig Goodwin states, “Positioning Naturally Splendid as a food manufacturer in addition to hemp processor and extractor of cannabinoids, is assurance that products will be manufactured not only to exacting emerging edible CBD regulations, but also to the extensive specifications required when producing safe consumable products as a food manufacturer. We have a unique and advantageous combination of; a decade of experience producing and distributing a variety of hemp foods; embedded cannabinoid extraction expertise with over a million dollars of extraction equipment being prepared for deployment; and maybe most importantly, an established reputation as a premium food manufacturer”.
Mr. Roy Khan states, “The decision to partner up with Naturally Splendid was simple. Their knowledge and practical experience in the edible space via their decade of experience in hemp-based product lines, will provide a seamless entry into the cannabis infused market. By leveraging the processing, packaging, logistics and experience of the team, we plan on being not just an early mover in the infused edibles product market, but a dominant player”.