LAVAL, QC, March 11, 2020 /CNW Telbec/ - Neptune
Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT)
(TSX: NEPT) is pleased to announce that the Company has entered
into an Open Market Sale Agreement with Jefferies LLC ("Jefferies")
pursuant to which the Company may from time to time sell, through
at-the-market ("ATM") offerings with Jefferies acting as sales
agent, such common shares as would have an aggregate offer price of
up to US$50,000,000. Neptune has also
filed a prospectus supplement with securities regulatory
authorities in all provinces and territories of Canada and with the United States Securities
and Exchange Commission, which supplements Neptune's short form
base shelf prospectus dated February 22,
2019, and Neptune's shelf registration statement on Form
F-10 dated February 22, 2019,
declared effective on February 26,
2019. The listing of any shares sold pursuant to the ATM
facility is subject to the approval of the Toronto Stock Exchange
and NASDAQ. Jefferies, at Neptune's discretion and instruction,
will use its commercially reasonable efforts to sell the common
shares at market prices from time to time. Sales in the ATM program
will only be conducted in the United
States through NASDAQ at market prices or at prices to be
negotiated with the applicable purchaser. As a result, prices of
Common Shares may vary as between purchasers and during the period
of distribution. No sales will be conducted in Canada or through the Toronto Stock
Exchange.
Neptune currently intends to use the proceeds from sales related
to the ATM program, if any, together with its existing capital, for
operating expenses, capital expenditure requirements and general
corporate purposes, including funding Neptune's growth initiatives
and research and development to further advance Neptune's
innovation strategies through in-house development, partnerships or
acquisitions.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which an offer,
solicitation or sale would be unlawful prior to registration or
qualifications under the securities laws of any such
jurisdiction.
Copies of the prospectus supplement and the accompanying
prospectus relating to these securities may be obtained by
contacting Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877)
821-7388, or by e-mail at prospectus_department@Jefferies.com.
About Neptune Wellness Solutions Inc.
Neptune Wellness Solutions specializes in the extraction,
purification and formulation of health and wellness products.
Neptune has in excess of 100 customers across several verticals
including legal cannabis and hemp, nutraceutical and consumer
packaged goods. 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 Sherbrooke, Quebec. Neptune also has a 24,000
square-foot facility located in North
Carolina to process hemp biomass into extracts. Neptune
brings decades of experience in the natural products sector to the
legal cannabis and hemp industries. Leveraging its scientific and
technological expertise, Neptune sees applications for hemp-derived
extracts in the U.S. beyond existing markets and product forms and
into personal care and home care markets. Neptune's activities also
include the development and commercialization of turnkey nutrition
solutions and patented ingredients such as MaxSimil®, and a variety
of marine and seed oils. Its head office is located in Laval, Québec.
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. Forward-looking statements in this press release
include, but are not limited to, information or statements about
the ATM program and the use by Neptune of the net proceeds of the
ATM program.
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.