LAVAL, QC, Oct. 20, 2020 /CNW Telbec/ - Neptune Wellness
Solutions Inc. ("Neptune" or the "Company") (TSX: NEPT) (NASDAQ:
NEPT), a diversified and fully integrated health and wellness
company focused on natural, plant-based, sustainable and
purpose-driven lifestyle brands, today announced it has
entered into definitive agreements with certain US healthcare
focused institutional investors for a private placement of
16,203,700 common shares and 10,532,401 warrants to purchase
10,532,401 common shares at an offering price of US$2.16 per share for gross proceeds of
approximately US$35 million before
deducting fees and other estimated offering expenses (the "Private
Placement").
![Neptune Wellness Solutions Inc. Logo (CNW Group/Neptune Wellness Solutions Inc.) Neptune Wellness Solutions Inc. Logo (CNW Group/Neptune Wellness Solutions Inc.)](https://mma.prnewswire.com/media/1316636/Neptune_Wellness_Solutions_Inc__Neptune_Wellness_Solutions_Inc_.jpg)
The Company expects to use the net proceeds from the Private
Placement for purchase order fulfilment, working capital and other
general corporate purposes. The Private Placement is expected to
close on or about October 22, 2020,
subject to the satisfaction of customary closing conditions and the
receipt of regulatory approvals, including the approval of the
Toronto Stock Exchange.
A.G.P./Alliance Global Partners is acting as sole placement
agent for the Private Placement.
The Private Placement is being made in the United States pursuant to the exemption
from securities registration afforded by Section 4(a)(2) of the
Securities Act of 1933, as amended, and Rule 506 of Regulation D as
promulgated by the United States Securities and Exchange Commission
(SEC) and the securities being sold in the Private Placement may
not be offered or sold in the United
States absent registration with the SEC or an applicable
exemption from such registration requirements. The Company has
agreed to file a prospectus supplement to its existing registration
statement on Form F-10 (File No. 333-229631) with the SEC covering
the resale of the common shares issued in the Private Placement, as
well as the common shares issuable upon exercise of the warrants
issued in the Private Placement.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
ABOUT NEPTUNE WELLNESS SOLUTIONS INC.
Neptune Wellness Solutions is a unique global health and
wellness company that is changing consumer habits through the
creation and distribution of environmentally friendly, ethical and
innovative consumer product goods. Neptune's simultaneous
focus on B2C and B2B customer-oriented brand development provides
the Company with international reach and scale from its owned and
operated facilities that extract and create product formulation,
all the way to the sales floor at top global retailers.
Underpinned by a disruptive spirit, Neptune's diversified and
fully integrated business model focuses on natural, plant-based,
sustainable and purpose-driven lifestyle brands and the use of
cannabinoids in household products to make them safer, healthier
and more effective. Its portfolio includes emerging brands such as
Forest Remedies™, Ocean Remedies™, Neptune Wellness™, Mood Ring™,
and OCEANO3™, which are poised for rapid growth and expansion.
Backed with a cost-efficient manufacturing and supply chain
infrastructure that can be scaled up and down or into adjacent
product categories to identify new innovation opportunities,
Neptune quickly adapts to consumer preferences and demand, and is
bringing its products as well as other Fortune 100 brands to market
through strategic distribution partnerships, mass retail partners
and e-commerce channels. Neptune is committed to its core mission
of redefining health and wellness and helping humanity thrive by
providing sustainable consumer focused solutions. For
additional information, please visit:
https://neptunecorp.com/
Neither NASDAQ nor the Toronto Stock Exchange accepts
responsibility for the adequacy or accuracy of this release.
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" 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.shtml 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 include, without
limitation, statements about the expected closing of the Private
Placement; anticipated use of proceeds of the Private Placement;
and 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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/neptune-wellness-solutions-inc-announces-us35-million-private-placement-301156206.html
SOURCE Neptune Wellness Solutions Inc.