108-19100 Airport way, Pitt Meadows, BC, Canada

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Dennys Restaurants Renews Plantein(TM) Plant-Based Agreement

Vancouver, British Columbia, October 12, 2022, – Naturally Splendid Enterprises Ltd. (“Naturally Splendid”, “NSE” or “the Company”) (FRANKFURT:50N) (TSX-V:NSP) (OTC:NSPDF) is pleased announce that Denny’s Restaurants has renewed its agreement to provide PlanteinTM plant-based Nuggets and Crumbed Tenders at all their restaurants across Canada under a national program.

Denny’s will continue to offer Nuggets and Crumbed Tenders at all corporate and participating franchise locations. Our delicious Nuggets and Crumbed Tenders are now available under the PlanteinTM brand, with Denny’s recently completing the rebranding with new restaurant menus and on-premises advertising.

Naturally Splendid Executive Vice President Bryan Carson states, “In addition to renewing our agreement, we are very excited to report that Denny’s and Naturally Splendid have begun discussions regarding adding additional PlanteinTM plant-based products to their menu. Having Denny’s renew with us and considering additional items shows that their customer base enjoys eating our products, and we look forward to continuing to provide our delicious plant-based entrees to this iconic restaurant chain.”

According to reports, plant-based meat alternative sales continue to be strong, increasing 74% in the past three years, outpacing the growth of conventional meat by almost three times. This surge in sales can be attributed for many reasons including consumers’ environmental and health concerns.

Naturally Splendid CEO, Mr. J. Craig Goodwin states, “Through the course of the pandemic, sales of conventional meat and poultry have been impacted by supply chain disruptions and escalating prices, pushing consumers and operators to seek alternative proteins. Foodservice providers are meeting consumer’s demand for plant-based foods by partnering with brands like PlanteinTM to provide a wide assortment of selections making it easier than ever to choose plant-based foods as part of their diet. We could not be more pleased than to be partnering with Denny’s in this growing category.”

About Naturally Splendid Enterprises Ltd.

Naturally Splendid is a plant-based food manufacturing and technology company that produces and distributes nutritious and delicious plant-based commodity products.

Founded in 2010, the Company operates a certified food manufacturing facility located just outside Vancouver, BC in Canada, focusing on producing an extensive range of plant-based entrees.

Naturally Splendid has an exclusive 10-year manufacturing and distribution agreement for Canada with a division of Australia’s largest plant-based food manufacturer, Flexitarian Foods Pty. Ltd.

In addition to producing the Company’s own branded products, Naturally Splendid provides contract manufacturing services and private labelling for a variety of nutritional plant-based food products destined for multiple distribution channels.

The Company has established healthy, functional foods under brands such as Natera Sport, Natera Hemp Foods, CHII™, Elevate Me™ and Woods Wild Bar™. The Company launched Plantein™ Plant-Based Foods, a line of delicious plant-based meat alternatives for the rapidly growing plant-based market segment.

Naturally Splendid has reached an agreement with Biologic to terminate the agreement with Plasm Pharmaceutical and is negotiating a compensation package for work done to date pursuing a potential treatment for Covid with the target drug Cavaltinib.

NSE has also developed proprietary technologies for the extraction of healthy omega 3 and 6 oils, as well as a protein concentrate from hemp.

On Behalf of the Board of Directors

Mr. J. Craig Goodwin

President, Director

Contact Information

Naturally Splendid Enterprises Ltd.

(NSP – TSX Venture; NSPDF – OTCQB; 50N Frankfurt)

#108-19100 Airport Way

Pitt Meadows, BC, V3Y 0E2

Office:  (604) 570-0902

E-mail: [email protected]

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 including, Naturally Splendid’s ability to compete with large food and beverage companies; sales of any potential products developed will be profitable; sales of shelled hemp seed will continue at existing rates or increase; customers will complete on sales contracts; and the risk that any of the potential applications may not receive all required regulatory or legal approval. 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.