Neptune Technologies & Bioressources Inc. ("Neptune" or the
"Company") (TSX:NTB)(NASDAQ:NEPT), a biotechnology company engaged
primarily in the development, manufacture and commercialization of
marine-derived omega-3 polyunsaturated fatty acids, announced today
that it has priced an underwritten public offering of 7,318,000
newly issued common shares at a public offering price of US$4.10
per share.
The gross proceeds to Neptune, before underwriting commissions
and other offering expenses, are expected to be approximately US$30
million. Neptune has granted the underwriters of the offering an
option to purchase an additional 1,097,700 common shares at the
public offering price during the period ending 30 days from the
closing of the offering.
RBC Capital Markets and JMP Securities LLC are acting as Joint
Book-Running Managers for the offering, and Byron Capital Markets
and John Thomas Financial are acting as Co-Managers.
Neptune intends to allocate the net proceeds from the Offering
as follows (i) approximately US$10 million for sales, marketing and
krill inventory purchases for NKO® and EKO(TM), (ii) approximately
US$8 million to support Acasti in the development and validation of
CaPre® and other product candidates, and to support NeuroBio in the
development and validation of its product candidates (iii)
approximately US$6 million to fund the expansion of its Sherbrooke
plant that is intended to increase Neptune's annual production
capacity to 500,000 kilograms of krill oil, (iv) approximately US$4
million to fund product development, clinical trials and regulatory
affairs of Neptune (including management and protection of its
intellectual property portfolio), and (v) the balance for general
corporate and other working capital purposes.
The closing of the offering is expected to occur on or about
October 2, 2012 or such other date that Neptune and the
underwriters agree upon and is subject to certain conditions,
including, but not limited to, the receipt of all necessary
regulatory approvals, including the approval of the Toronto Stock
Exchange and The Nasdaq Stock Market.
The common shares will be issued in the United States pursuant
to the Company's effective shelf registration statement filed with
the U.S. Securities and Exchange Commission ("SEC") and in Canada
pursuant to a final short form base shelf prospectus filed with the
securities regulatory authorities in the Provinces of Quebec,
Ontario, Manitoba, Alberta and British Columbia. A final prospectus
supplement and accompanying final short form base shelf prospectus
related to the offering will be filed with the SEC and applicable
Canadian securities regulatory authorities. Investors should read
the prospectus supplement and accompanying short form base shelf
prospectus prospectus for more complete information about Neptune
and the offering. Copies of these documents will be available at
www.sedar.com and www.sec.gov/edgar.shtml, respectively.
Investors may also obtain the final prospectus supplement and
final base short form shelf prospectus for the offering, when
available, by contacting RBC Capital Markets in Canada, Attention:
Distribution Centre, 277 Front St. W., 5th Floor, Toronto, Ontario
M5V 2X4 (fax: 416-313-6066); or in the United States from RBC
Capital Markets, LLC, Attention: Prospectus Department, Three World
Financial Center, 200 Vesey Street, 8th Floor, New York, NY
10281-8098 (phone: 877-822-4089); (fax: 212-428-6260), or from JMP
Securities LLC, Attention: Prospectus Department, 600 Montgomery
Street, 10th Floor, San Francisco, California 94111 (phone:
415-835-8985).
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Neptune Technologies & Bioressources Inc.
Neptune is a biotechnology company engaged primarily in the
development, manufacture and commercialization of marine-derived
omega-3 polyunsaturated fatty acids, or PUFAs. Neptune produces
omega-3 PUFAs through its patented process of extracting oils from
Antarctic krill, which omega-3 PUFAs are then principally sold as
bulk oil to Neptune's distributors who commercialize them under
their private label primarily in the U.S., European and Australian
nutraceutical markets. Neptune's lead products, Neptune Krill Oil
(NKO®) and ECOKRILL Oil (EKO(TM)), generally come in capsule form
and serve as a dietary supplement to consumers.
Through its subsidiaries Acasti Pharma Inc. ("Acasti") (TSX
VENTURE:APO) and NeuroBioPharm Inc. ("NeuroBio"), in which Neptune
respectively holds 57% and 99% of the voting rights, Neptune is
also pursuing opportunities in the medical food and prescription
drug markets. Acasti and NeuroBio respectively focus on the
research and development of safe and therapeutically effective
compounds for highly prevalent atherosclerotic conditions, such as
cardiometabolic disorders and cardiovascular diseases, and for
neurodegenerative and inflammation related conditions. Acasti's
lead prescription drug candidate is CaPre®, a purified high omega-3
phospholipid concentrate derived from Neptune krill oil being
developed to address the prevention and treatment of
cardiometabolic disorders, including hypertriglyceridemia, which is
characterized by abnormally high levels of triglycerides.
Forward Looking Statements
Certain statements included in this press release may be
considered forward-looking information within the meaning of
Canadian securities laws and forward-looking statements within the
meaning of U.S. federal securities laws, both of which we refer to
as forward-looking statements. Such statements involve known and
unknown risks, uncertainties and other factors that may cause
results, performance or achievements to be materially different
from those implied by such statements, and therefore these
statements should not be read as guarantees of future performance
or results. All forward-looking statements are based on Neptune's
current beliefs as well as assumptions made by and information
currently available to Neptune and relate to, among other things,
Neptune's strategy, strategic goals, research and development
activities, research and clinical testing outcome, future
operations, future financial position, future revenues/results,
projected costs, prospects and plans and objectives of
management.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Due to risks and uncertainties, including the risks
and uncertainties identified by Neptune in the prospectus related
to this offering and in its public securities filings available at
www.sedar.com and www.sec.gov/edgar.shtml, actual events may differ
materially from current expectations. Except as required by law,
Neptune disclaims any intention or obligation to update or revise
any forward-looking statements.
Contacts: Neptune Technologies & Bioressources Inc. Andre
Godin CFO +1.450.687.2262a.godin@neptunebiotech.com
www.neptunebiotech.com Howard Group Contact: Dave Burwell (888)
221-0915dave@howardgroupinc.com www.howardgroupinc.com