Recent approvals by customers to begin
processing has the Company's Phase II expansion fully operational
at room temperature
LAVAL, QC, April 8, 2020 /CNW Telbec/ - Neptune
Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT)
(TSX: NEPT), is pleased to announce today that its phase II
expansion at its Sherbrooke,
Quebec facility is operational and has been approved to run
product for customers bringing our capacity to 200,000 kg.
"Our first production runs for customers mark a key milestone
for Neptune in our differentiated and competitive approach to
servicing the Canadian cannabis industry," said David Mayers, Chief Operating Officer of
Neptune. "This technological advancement is an important step
towards industry-leading low-cost manufacturing of high quality
cannabis extracts, allowing Neptune to deliver significant value
and efficiencies to our customers."
"This development further strengthens our B2B extraction
business and solidifies our competitive advantage in the market.
Phase II is the key for our Canadian LP customers to be able to
lower costs, provide value to consumers and create a competitive
advantage, all while allowing Neptune to compete effectively with
superior pricing, quality and healthy margins," said Michael Cammarata, Chief Executive Officer of
Neptune. "We are also testing our cold ethanol technology and
making significant progress towards further advancements in our
processing technology, which will further enable sustainable,
low-cost, high quality production for our Canadian cannabis
customers."
The Company anticipates that its cold ethanol technology,
combined with the high level of automation at Neptune's
Sherbrooke facility, will increase
production speed up to 5x compared to its CO2 technology, while
using 2x less energy.
About Neptune Wellness Solutions Inc.
Neptune
Wellness Solutions specializes in the extraction, purification and
formulation of health and wellness products. The Company 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. The Company 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, the Company
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, Quebec.
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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/neptune-announces-sherbrooke-phase-ii-expansion-is-now-operational-and-running-product-for-customers-301037277.html
SOURCE Neptune Wellness Solutions Inc.