LAVAL, QC, June 7, 2019 /CNW Telbec/ - Neptune Wellness
Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT) (TSX:
NEPT), has entered into a definitive agreement to provide
extraction, and purification services to Tilray Inc. ("Tilray")
(NASDAQ: TLRY) a global leader in cannabis research, cultivation,
production and distribution.
Neptune will receive, at its facility in Sherbooke, Quebec, cannabis and hemp biomass from Tilray.
Neptune will provide extraction services to produce various extract
formats which include crude resin, winterized oil and distillate
extracts.
Under the terms of the agreement, the minimum volume of biomass
to be processed over the three year term is 125,000kg, of which the
first year is expected to represent 20% of total volumes.
"We are thrilled to be working with Tilray, a globally
recognized leader in cannabis. The size and length of this contract
is a testament to the strength of our commercial, scientific and
operations teams." said Jim
Hamilton, CEO of Neptune.
"We are excited to start our relationship with such a great
company as Tilray and we look forward to our future collaboration
together" said Michel Timperio
President of Neptune's cannabis division.
Neptune expects to receive its first shipment of biomass from
Tilray in September, 2019.
About Neptune Wellness Solutions Inc.
Neptune
Wellness Solutions specializes in the extraction, purification and
formulation of health and wellness products. Neptune's wholly owned
subsidiary, 9354-7537 Québec Inc., is licensed by Health Canada to
process cannabis at its 50,000-square-foot facility located in
Sherbooke, Quebec. Neptune brings
decades of experience in the natural products sector to the legal
cannabis industry. Leveraging its scientific and technological
expertise, Neptune focuses on the development of value-added and
differentiated products for the Canadian and global cannabis
markets. Neptune's activities also include the development and
commercialization of turnkey nutrition solutions and patented
ingredients such as MaxSimil®, and of a variety of marine and seed
oils. Its 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", "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.
Forward-looking information in this press release includes, but is
not limited to, information or statements about Neptune's ability
to successfully, produce, or generate any revenue from the sale of
any marijuana-based and hemp-based products under the terms of the
agreement; the timing of Neptune's or its partners' anticipated
results, including in connection with the likelihood and timing of
obtaining all necessary regulatory approvals in connection with
Neptune's expansion at its licensed facility located in
Sherbrooke; and the ability or
failure of Neptune or its partners to comply with governmental
regulations.
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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/neptune-signs-multi-year-extraction-agreement-with-tilray-300863748.html
SOURCE Neptune Wellness Solutions Inc.