~ The deal represents the second major
province to ink such an agreement with the Company for its
proprietary Mood Ring cannabis line for the Canadian market
~
LAVAL, QC, Oct. 27, 2020 /CNW Telbec/ - Neptune
Wellness Solutions, Inc. ("Neptune" or the "Company") (NASDAQ:
NEPT) (TSX: NEPT) has entered into a supply agreement with the
Ontario Cannabis Store (OCS), the wholesaler and sole online
retailer for recreational cannabis, for the sale and distribution
of Neptune's new proprietary recreational product line, Mood
Ring.
This is the second such agreement Neptune has secured through
its wholly owned subsidiary 9354-7537 Quebec Inc.1 On
Sept. 24, the Company announced it
had entered into an agreement with the British Columbia Liquor
Distribution Branch (BCLDB), the wholesaler and public retailer of
non-medical cannabis products throughout that province.
"This is yet another landmark moment in the cannabis movement,
and will allow Neptune to bring the Mood Ring brand — affordable,
sustainable and premium cannabis products — to the millions of
people who live in that province," said Michael Cammarata,
Chief Executive Officer and President of Neptune.
Ontario is Canada's largest market for adult-use cannabis
products. The agreement authorizes Neptune to supply Mood Ring
products to the OCS for sale and wholesale distribution. The
products are anticipated to be available for purchase this
fall through the OCS online store.
Additionally, the Mood Ring product line will be available to
the 211 licensed private retailers in Ontario. Together with
British Columbia, this extends
Neptune's reach to 515 retailers in Canada.
The initial Mood Ring product rollout will include quality High
CBD Oil, High CBD Capsules, Classic Hashish, and Legacy
Hashish. Mood Ring uses Neptune's proprietary cold ethanol
extraction process technology to create full spectrum extracts for
the Company's CBD products and newly implemented solventless
extraction for THC concentrates.
____________________
|
1 The
number company holds a standard processing licence with
authorization to sell edible, extract, and topical cannabis
products to recreational markets throughout Canada.
|
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/
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 are also subject
generally to other risks and uncertainties that are described from
time to time in Neptune 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.