LAVAL, QC, June 19, 2018 /PRNewswire/ - Neptune
Technologies & Bioressources Inc. ("Neptune" or the "Company")
(NASDAQ: NEPT) (TSX: NEPT), today announced that it entered
into a multi-year agreement with Canopy Growth (TSX: WEED) (NYSE:
CGC). Under the terms of the agreement, Neptune will supplement
Canopy Growth's extraction, refinement, and extract product
formulation capacity.
"We are truly excited to partner with such a great company as
Canopy Growth. This multi-year agreement, including minimum volume
commitments, will be supported by Neptune's decades of experience
in extraction, purification and formulation of value added
differentiated science-based products," said Michel Timperio, President of Neptune's Cannabis
Business.
"Extract products are key to the future of the global cannabis
industry and we're taking the right steps to significantly
increasing our production capacity to capture this opportunity,"
said Mark Zekulin, President, Canopy
Growth. "We were the first to introduce extract based cannabis
Softgels and this agreement supports our development of a wide
range of extract products to meet the demand of these growing
market segments as we prepare our operations for greater product
diversification."
"When combined, this significantly increased extract production
capacity, coupled with extract focused research, positions Canopy
Growth to meet the demand of patients and consumers in Canada and around the world. Neptune's
existing throughput capacity will complement Canopy Growth's owned
extraction capacity to support extraction requirements for the
world's largest cannabis production platform totaling 5.6 million
sq. ft.," added Mr. Zekulin.
"Today's agreement represents an important milestone in our
cannabis growth strategy and validates our repositioning into
larger global markets characterized by growth. Neptune has a
history of producing high quality products for the natural health
sector and is well positioned to apply and lever this experience to
cannabis products," concluded Jim
Hamilton, President and CEO of Neptune.
Through the agreement, Canopy Growth is further diversifying its
production platform and driving greater integration in the growing
cannabis industry in Quebec.
Contributing to a robust, responsible cannabis industry within the
Province continues to be a core focus for both Canopy Growth and
Neptune.
About Neptune Technologies & Bioressources Inc.
Neptune is a wellness products company, with more than 50 years
of combined experience in the industry. The Company develops
turnkey solutions available in various unique delivery forms,
offers specialty ingredients such as MaxSimil®, a patented
ingredient that enhances the absorption of lipid-based
nutraceuticals, and a variety of other marine and seed oils.
Neptune also sells premium krill oil directly to consumers through
web sales at www.oceano3.com. Leveraging our scientific,
technological and innovative expertise Neptune is working to
develop unique extractions in high potential growth segments such
as in the medical cannabis field.
The Company's 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," "anticipates," "will," 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" and in our MD&A for the financial year ended
March 31, 2018 under "Risks and
uncertainties".
Neither NASDAQ nor the Toronto Stock Exchange accepts
responsibility for the adequacy or accuracy of this release.
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SOURCE Neptune Technologies & Bioresources inc.