LAVAL, QC, July 15, 2020 /CNW
Telbec/ - Neptune Wellness Solutions Inc. ("NEPT" or
the "Company") (TSX: NEPT) (NASDAQ: NEPT), a diversified and
fully integrated health and wellness company focused on natural,
plant-based, sustainable and purpose-driven lifestyle brands, today
announced it has closed its previously-announced registered
direct common share offering with one of its existing institutional
investors and two new U.S. institutional investors for gross
proceeds of approximately US$12.65
million before deducting fees and other estimated offering
expenses (the "Offering").
President, CEO & Director of the Company, Michael Cammarata, stated, "The support of our
existing and new investors in this Offering validates the current
growth initiatives of the Company."
The Company expects to use the net proceeds from the Offering
for working capital and other general corporate purposes.
A.G.P./Alliance Global Partners acted as sole placement agent
for the Offering.
About Neptune Wellness Solutions
Neptune Wellness Solutions is a diversified and fully integrated
health and wellness company. With a mission to redefine
health and wellness, Neptune is focused on building a broad
portfolio of high quality, affordable consumer products in response
to long-term secular trends and market demand for natural,
plant-based, sustainable and purpose-driven lifestyle brands. The
Company utilizes a highly flexible, cost-efficient manufacturing
and supply chain infrastructure that can be scaled up and down or
into adjacent product categories to identify new innovation
opportunities, quickly adapt to consumer preferences and demand,
and bring new products to market through its mass retail partners
and e-commerce channels. Leveraging decades of expertise in
extraction and product formulation, Neptune is a leading provider
of turnkey product development and supply chain solutions to
business customers across several health and wellness verticals,
including legal cannabis and hemp, nutraceuticals and white label
consumer packaged goods. The Company has a strong position in
cannabis and hemp with research, development and commercialization
focused on the use of cannabinoids in household products to make
them safer, healthier and more effective. 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/
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SOURCE Neptune Wellness Solutions Inc.