Mood Ring's First Two Vape Products,
Jack Flash and Pure Kush, Mark Entry
into
Growing Canadian Vape Market
LAVAL, QC, Nov. 9, 2021
/PRNewswire/ - Neptune Wellness Solutions Inc.
("Neptune" or the "Company") (NASDAQ: NEPT) (TSX: NEPT), a
diversified and fully integrated health and wellness company
focused on plant-based, sustainable and purpose-driven lifestyle
brands, today announced the launch of Mood Ring branded vape
products in the provinces of Ontario, Alberta and British
Columbia.
Neptune's popular cannabis brand, Mood Ring, launched
Jack Flash and Pure Kush vape
products in Alberta and
British Columbia, and Jack Flash in Ontario. Vapes represent a significant market
opportunity within Mood Ring's diversified portfolio of
high-quality cannabis flower, THC and CBD oils and capsules, and
hashish products. The Company expects to launch additional Mood
Ring branded products across its licensed Canadian footprint
throughout the coming year.
"Demand for vapes continues to grow across Canadian provinces,
making it the third largest category of cannabis products by sales
in Canada1. Following
the success of our other product launches to-date and scalable vape
production, we anticipate significant revenue contribution from
vapes over the next several years," said Michael Cammarata, Chief Executive Officer and
President of Neptune. "Jack Flash
and Pure Kush 510 thread cartridges feature two special strains
that are produced using all-natural materials, which enable us to
deliver a differentiated product from both an experience and
sustainability perspective. This initial launch of vape products is
the next step in our strategy of transforming our cannabis business
from a slow-growth, low margin extraction business to a high
growth, higher margin branded CPG business."
Mood Ring's vapes are produced sustainably with biodegradable
mouth pieces made from first to market hemp-plastic and a
low-energy-use extraction using Neptune's patented process.
A portion of the proceeds from the sales of Mood Ring products
will be donated to the planting of trees through our partnership
with One Tree Planted.
For more information, please visit https://moodring.com.
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1
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Headset, 'Vapor Pens:
An analysis of category & brand performance', July 15 2021,
https://www.headset.io/industry-reports/cannabis-vapor-pens-an-analysis-of-category-brand-performance.
|
About Neptune Wellness Solutions Inc.
Headquartered
in Laval, Quebec, Neptune is a
diversified health and wellness company with a mission to redefine
health and wellness. Neptune is focused on building a 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 to quickly adapt to
consumer demand and bring new products to market through its mass
retail partners and e-commerce channels. For additional
information, please visit: https://neptunewellness.com/.
Disclaimer – Safe Harbor Forward–Looking Statements
Forward-looking statements contained in this press release
involve known and unknown risks, uncertainties and other factors
that may cause actual results, performance and achievements of
Neptune Wellness Solutions to be materially different from any
future results, performance or achievements expressed or implied by
the said forward-looking statements.
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.