LAVAL, QC, Sept. 24, 2019 /PRNewswire/ - Neptune
Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT)
(TSX: NEPT) is pleased to announce new customer relationships for
which the Company is expected to provide hemp-derived finished-form
products and bulk extracts processed at Neptune's U.S. extraction
facility. The company is also in discussion with several other
customers for additional opportunities in the U.S. market.
Included in these new relationships is a large and
well-established nutraceutical company for which Neptune will
supply hemp-derived finished-form products. Neptune has undergone a
significant vendor vetting process resulting in being selected as a
supplier. This is a testament to Neptune's supply chain excellence,
strict quality control and quality assurance framework, which the
Company considers a differentiating factor in the U.S. hemp-derived
marketplace.
"While our U.S. facility is already generating sales from its
tolling services and bulk hemp-derived extracts, we are pleased to
have initiated these new customer relationships for finished
product forms. Clearly, this is a step in the right direction to
support our future growth strategy of expanding core customers and
of supporting, consumer packaged goods companies and fragrance
houses' expansions into the space. Furthermore, we see significant
potential to leverage our existing nutraceutical customers as they
decide to move into hemp-derived products," said Michael Cammarata, CEO of Neptune.
About Neptune Wellness Solutions Inc.
Neptune Wellness
Solutions specializes in the extraction, purification and
formulation of health and wellness products. Neptune's wholly owned
subsidiary, 9354-7537 Québec Inc., is licensed by Health Canada to
process cannabis at its 50,000-square-foot facility located in
Sherbooke, Quebec. With the recent
acquisition of SugarLeaf, the Company now has a U.S.-based hemp
extract supply chain supported by a 24,000 square-foot facility
located in North Carolina. Neptune
and SugarLeaf combined bring decades of experience in the natural
products sector to the legal cannabis and hemp industry. Leveraging
its scientific and technological expertise, The Company as a whole
focuses on the development of value-added and differentiated
products for the Canadian, U.S. and global cannabis and hemp
markets. Neptune's activities also include the development and
commercialization of turnkey nutrition solutions and patented
ingredients such as MaxSimil®, and of a variety of marine and seed
oils. Its head office is located in Laval, Quebec.
Forward Looking Statements
Statements in this press
release that are not statements of historical or current fact
constitute "forward-looking statements" within the meaning of the
U.S. securities laws and Canadian securities laws. Such
forward-looking statements involve known and unknown risks,
uncertainties, and other unknown factors that could cause the
actual results of Neptune to be materially different from
historical results or from any future results expressed or implied
by such forward-looking statements. In addition to statements which
explicitly describe such risks and uncertainties, readers are urged
to consider statements labeled with the terms "believes", "belief",
"expects", "intends", "projects", "anticipates", "will", "should"
or "plans," or which refer to expectations, projections or other
characterizations of future events or circumstances, to be
uncertain and forward-looking. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release.
The forward-looking statements contained in this press release
are expressly qualified in their entirety by this cautionary
statement and the "Cautionary Note Regarding Forward-Looking
Information" section contained in Neptune's latest Annual
Information Form (the "AIF"), which also forms part of Neptune's
latest annual report on Form 40-F, and which is available on SEDAR
at www.sedar.com, on EDGAR at www.sec.gov/edgar.html and on
the investor section of Neptune's website at www.neptunecorp.com.
All forward-looking statements in this press release are made as of
the date of this press release. Neptune does not undertake to
update any such forward-looking statements whether as a result of
new information, future events or otherwise, except as required by
law. The forward-looking statements contained herein are also
subject generally to other risks and uncertainties that are
described from time to time in Neptune's public securities filings
with the Securities and Exchange Commission and the Canadian
securities commissions. Additional information about these
assumptions and risks and uncertainties is contained in the AIF
under "Risk Factors".
Neither NASDAQ nor the Toronto Stock Exchange accepts
responsibility for the adequacy or accuracy of this release.
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SOURCE Neptune Wellness Solutions Inc.