LAVAL, QC, July 13, 2020 /CNW Telbec/ - Neptune
Wellness Solutions Inc. ("NEPT" or the "Company") (TSX: NEPT)
(NASDAQ: NEPT), a health and wellness company focused on
extraction, purification and formulation of cannabinoids, today
announced it has entered into definitive agreements with
certain healthcare-focused institutional investors for the sale of
4,773,584 common shares at an offering price of US$2.65 per share for gross proceeds of
approximately US$12.65 million before
deducting fees and other estimated offering expenses, pursuant to a
registered direct offering (the "Offering").
The Company expects to use the net proceeds from the Offering
for working capital and other general corporate purposes. The
Offering is expected to close on or about July 15, 2020, subject to the satisfaction of
customary closing conditions, including, but not limited to, the
listing of the common shares on the Toronto Stock Exchange and the
NASDAQ and any required approvals of each exchange and applicable
regulators.
A.G.P./Alliance Global Partners is acting as sole placement
agent for the Offering.
The Offering is being made in the
United States only under the Company's amended and restated
short form base shelf prospectus dated February 22, 2019 (the "Base Shelf Prospectus"),
filed with the securities regulatory authorities in each of the
provinces and territories of Canada, and the corresponding registration
statement on Form F-10 (the "Registration Statement") filed by
the Company with the U.S. Securities and Exchange Commission
("SEC") under the U.S./Canada Multijurisdictional Disclosure System
("MJDS"). The Company will file a prospectus supplement (the
"Supplement") to the Base Shelf Prospectus on a non-offering basis
with applicable securities regulatory authorities in Canada. The Supplement will also be filed with
the SEC as part of the Company's Registration Statement under the
MJDS. Copies of the Supplement and the Base Shelf Prospectus will
be available on SEDAR at www.sedar.com and copies of the
Supplement and the Registration Statement will be available on
EDGAR at www.sec.gov.
Copies of the Supplement, the Base Shelf Prospectus and the
Registration Statement may also be obtained from A.G.P./Alliance
Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022 or via telephone at
212-624-2006 or email: prospectus@allianceg.com.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
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/
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.