LAVAL, QC, July 8, 2019 /CNW Telbec/ - Neptune Wellness
Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT) (TSX:
NEPT) announced today the appointment of Michael Cammarata, a successful entrepreneur and
innovator in the wellness industry, as its Chief Executive Officer
and Member of the Board of Directors effective today, July 8, 2019. After over 4 years, Jim Hamilton has stepped down from his role as
CEO and Director but will remain as an advisor to the Board.
Over the past 20 years, Mr. Cammarata has been a serial
entrepreneur, developing businesses and successfully investing in
various sectors such as wellness products, biotechnology,
advertising, electronics and entertainment, through his own venture
capital and private equity firm, Random Occurrence.
Mr. Cammarata is the co-founder of Schmidt's Naturals, now a
business unit of Unilever, which has quickly established
itself as one of the fastest growing wellness brands. Mr.
Cammarata's investment, strategic retail partnerships and deep
understanding of digital architecture contributed to breakthrough
years for Schmidt's Naturals' from its start-up stage in 2015 to
the acquisition by Unilever in 2017. He led Schmidt's Naturals as
CEO to exponential growth of the Schmidt's brand in 2018 and
2019, through expansion into distribution and further expanding
product lines including hemp derived wellness products
domestically and globally.
"Michael has extensive executive leadership experience at the
forefront of consumer innovation. He has identified new trends and
opportunities which led to the development of market-leading
products," said John Moretz,
Chairman of the Board. "These critical skills should benefit our
customers. Moreover, Michael possesses the right mix of operational
CEO experience, leadership skills, and technology industry
expertise to help elevate Neptune to the next level," added Mr.
Moretz.
"I am thrilled to have been given the opportunity to take on
this new role, as I have followed Neptune's progress and am excited
about their status in the market. Neptune is well positioned for
strong and sustainable growth in the coming years, and I am eager
to bring the skills and capabilities required to deliver success
and value for shareholders," said Mr. Cammarata.
"On behalf of the Board of Directors and employees, I want to
extend our deep appreciation for the work and contributions of
Jim Hamilton over the last four
years," added Mr. Moretz. "During his tenure, Jim executed on a
well-planned transition and strategy through both divestitures and
acquisitions. As a result, Neptune is now operating in larger
consumer market segments with great growth potential, such as legal
cannabis, which has created impressive value for our shareholders.
With this momentum achieved, Jim felt that the timing was right to
place Neptune in the hands of new leadership supported by the great
team in place, to drive success through the Company's next phase of
development. We are delighted he will remain as an advisor to
Neptune's Board" concluded Mr. Moretz.
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 Sherbrooke, Québec. 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.
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.html 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.