Mood Ring to launch in select Canadian markets
this fall to meet consumer demand for high-quality, affordable and
environmentally friendly cannabis products
LAVAL, QC, Aug. 18, 2020 /PRNewswire/ - Neptune Wellness
Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT) (TSX:
NEPT), a diversified and fully integrated health and wellness
company focused on natural, plant-based, sustainable and
purpose-driven lifestyle brands, is pleased to introduce its
proprietary Mood Ring cannabis brand for the Canadian
market. The Mood Ring brand and product line will officially
launch in select Canadian markets this fall to meet consumer demand
for high-quality, affordable and environmentally friendly cannabis
products.
Mood Ring leverages Neptune's decades of experience in the
wellness, extraction and consumer packaged goods (CPG) industries
to bring product offerings to market that are designed to meet the
specific demands of Canadian consumers. Mood Ring CBD products
primarily target wellness-focused consumers looking for natural
products, whereas Mood Ring THC concentrates focus on the
recreational market.
Mood Ring will use Neptune's proprietary cold ethanol extraction
process technology to create full spectrum extracts for the
Company's tincture and capsule products and newly implemented
solventless extraction for THC concentrates. These processes allow
Mood Ring to provide consumers with all of the cannabinoid and
terpene benefits of the plant with a significantly lower
environmental impact, requiring significantly less energy use when
compared to CO2 extraction.
"Mood Ring is directly aligned with our strategy to move closer
to the consumer and drive our growth with unique, high-quality and
affordable health and wellness branded products," said Michael Cammarata, Chief Executive Officer of
Neptune Wellness Solutions. "Our initial launch of Mood Ring will
focus on CBD and THC products that we can immediately scale up to
support the volumes required to meet demand, with future products
in development. We intend to price our products to be competitive
with the illicit market, which will provide legal options
for legacy consumers that meet their needs and expectations,
while attracting new consumers in a friendly and approachable
way."
In June, Neptune received authorization by Health Canada to sell
cannabis products to provinces and territories. This sales license
includes edibles, extracts, and topical products. Health
Canada's authorization adds to
Neptune's previously held processing license and permits the
Company to expand its cannabis operations to include Mood Ring and
future proprietary branded products.
About Neptune Wellness Solutions Inc.
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/
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.shtml 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.