“A strategic investor has exercised this recent round of warrants, which has allowed the Company to accelerate on key initiatives. This influx of capital will be directed towards the operations of the Company to further advance projects such as Natera Plant-Based Foods and e-commerce strategies. We look forward to providing updates as these key initiatives are implemented,” stated Naturally Splendid chief executive officer Craig Goodwin
The warrants were exercised at a price of 5.5 cents for a total of 11,143,000 common shares being issued. Following the issuance of these shares, Naturally Splendid will have a total of 217,946,007 common shares outstanding. Previously, on March 5, 2021 the Company announced it had gained $254,980 in cash from the exercise of warrants. Cumulatively, Naturally Splendid has received a total of $867,854 from exercising warrants.
With the funds generated from the warrant exercise, Naturally Splendid plans to focus its initiatives on the advancements of plant-based foods. It goes without saying that a plant-based food company would want to improve its products, however, the Company has already performed exceptionally in the new year with its current portfolio. Namely, the Company’s Natera Sport, Natera Hemp Foods, CHII, Elevate Me, Woods Wild Bar, and Natera Plant Based Foods have all been received well by a growing plant-based market.
Additionally, Naturally Splendid recently completed a major shipment to South Korea marking the Company’s fourth shipment to the country since March 3rd, 2020. The order was placed by numerous Naturally Splendid clients in South Korea and contained 20 tons of hulled hemp seeds. With this in mind, the Company has recognized the growing demand for plant-based foods in South Korea as its population increasingly identifies as vegan or flexitarian.
Naturally Splendid has also completed a survey with a team of marketing students from the British Columbia Institution of Technology (BCIT). The survey aims to explore gen Z’s and millennials’ awareness, knowledge, and perception of plant-based foods. The findings are intended to provide insight regarding consumer preferences for future Plant-Based Protein Foods.
Overall, Naturally Splendid’s stock has performed quite well in the new year and has held steady the last few days. Furthermore, the Company has a variety of new products under development and has amassed a total of $867,854 from the exercise of warrants. With this in mind, Naturally Splendid shows potential for growth and wont break your bank as an investment either. However, until future announcements regarding the Company’s future are made, estimating a timeline remains difficult.
Naturally Splendid’s stock price opened at $0.07 and currently remains the same.