Canada wide
launch of Neptune's proprietary cannabis brands to come
Expansion of white-label business with key
customers enabled
Received approval for expanded cold storage
and operating space
LAVAL, QC, June 29, 2020 /PRNewswire/ - Neptune
Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT)
(TSX: NEPT), a diversified and fully integrated health and wellness
company, is pleased to announce today it has been authorized by
Health Canada to sell cannabis products to provinces and
territories. This sales license includes edibles, vapes, extracts,
and topicals, including beverage products to name a few. This
authorization adds to previously held processing license and will
expand Neptune's cannabis operations to include proprietary branded
products. Additionally, the authorization enhances the capabilities
of the Company's white label offerings, providing incremental value
and service offerings to its B2B customers.
In addition to the sales license, Neptune's cold storage and
added operating space have been approved for operation. The
enlarged cold storage and approved space in the Sherbooke facility
provide greater capacity to process larger volumes of product and
store at low temperature to protect product. The increased storage
adds significantly to Neptune's logistic capabilities and provides
incremental solutions to the Company's clients.
"The receipt of our sales license is a major milestone for
Neptune and significantly expands our cannabis revenue
opportunities. We are already advanced in our development of our
own brands, and look forward to announcing new branded products. We
also see potential for future co-branded opportunities.
Additionally, the license enhances our white label business,
allowing us to ship direct to provincial customers on behalf of our
partners. We plan to further enhance our production capabilities to
expand both our branded and white label product solutions and
product forms and capture incremental value within the growing
Canadian cannabis market," said Michael
Cammarata, Chief Executive Officer of Neptune Wellness
Solutions. "The sales license, along with our approval to
begin operating our expanded space and cold storage significantly
increase our capabilities to support our customers, solve the
storage limitation inherent among many current and potential
cannabis customers and provide significantly higher value to our
partners and customers, capturing incremental revenue and
growth."
About Neptune Wellness Solutions Inc.
Neptune
Wellness Solutions is a diversified and fully integrated health and
wellness company. Through its flagship consumer-facing brands,
Forest Remedies™ and Ocean Remedies™, Neptune is redefining health
and wellness by building a broad portfolio of natural, plant-based,
sustainable and purpose-driven lifestyle brands and consumer
packaged goods products in key health and wellness markets,
including hemp, nutraceuticals, personal care and home care.
Leveraging decades of expertise in extraction and specialty
ingredient formulation, Neptune is a leading provider of turnkey
product development and supply chain solutions to businesses and
government customers across several health and wellness verticals,
including legal cannabis and hemp, nutraceuticals and white label
consumer packaged goods. The Company utilizes a highly
flexible and low cost supply chain infrastructure that can be
scaled up and down or into adjacent product categories to quickly
adapt to market demand. Neptune's corporate headquarters is located
in Laval, Quebec, with a
50,000-square-foot production facility located in Sherbrooke, Quebec and a 24,000 square-foot
facility located in North Carolina. 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.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 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.