Neptune Technologies & Bioressources Announces a Private Placement Financing of Approximately $10Million USD
April 19 2011 - 7:09AM
Neptune Technologies & Bioressources Inc. ("Neptune")
(Nasdaq:NEPT) (TSX-V:NTB) announced today that it has received
commitments to purchase securities from US and Canadian accredited
investors for total proceeds of approximately $10,000,000 USD.
US institutional investors have committed, subject to customary
conditions, to purchase 2,622,222 common shares at $2.25 USD per
share and warrants to purchase 655,555 additional common shares.
The warrants to purchase additional shares will be exercisable at a
price of $2.75 USD per share for 18 months commencing one day
following their issue date. Canadian institutional investors have
committed, subject to customary conditions, to purchase 1,830,275
common shares at $2.15 CAD per share and warrants to purchase
457,569 additional shares. The warrants to purchase additional
shares will be exercisable at a price of $2.65 CAD per share for 18
months commencing one day following their issue date.
The net proceeds of the private placement are expected to be
approximately $9,500,000 USD and will be used for general corporate
purposes.
The offering is subject to the TSX Venture Exchange
approvals.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities. The securities offered
and sold in the private placement have not been registered under
the Securities Act of 1933, as amended, or any state securities
laws, and may not be offered or sold in the United States absent
registration, or an applicable exemption from registration under
the Securities Act and applicable state securities laws.
About Neptune Technologies & Bioressources
Inc.
Neptune is an industry-recognized leader in the innovation,
production and formulation of science-based and clinically proven
novel phospholipid products for the nutraceutical and
pharmaceutical markets. The Company focuses on growing consumer
health markets including cardiovascular, inflammatory and
neurological diseases driven by consumers taking a more proactive
approach to managing health and preventing disease. The Company
sponsors clinical trials aimed to demonstrate its product health
benefits and to obtain regulatory approval for label health claims.
Neptune is continuously expanding its intellectual property
portfolio as well as clinical studies and regulatory approvals.
Neptune's products are marketed and distributed in over 20
countries worldwide.
"Neither Nasdaq nor the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
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. Private Securities
Litigation Reform Act of 1995 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 the Company 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. The forward-looking
statements contained herein are also subject generally to other
risks and uncertainties that are described from time to time in the
Company's reports filed with the Securities and Exchange Commission
and the Canadian securities commissions.
CONTACT: Neptune Contact:
Neptune Technologies & Bioressources Inc.
Andre Godin, CFO
+1.450.687.2262
a.godin@neptunebiotech.com
www.neptunebiotech.com
Howard Group Contact:
Bob Beaty
(888) 221-0915
bob@howardgroupinc.com
www.howardgroupinc.com
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