Neptune Wellness Solutions Inc. Announces US$12.65 Million Registered Direct Offering

Published: July 14, 2020

Neptune Wellness Solutions Inc. Announces US$12.65 Million Registered Direct Offering

Neptune Wellness Solutions Inc., a health and wellness company focused on extraction, purification and formulation of cannabinoids, has entered into definitive agreements with certain healthcare-focused institutional investors for the sale of 4,773,584 common shares at an offering price of US$2.65 per share for gross proceeds of approximately US$12.65 million before deducting fees and other estimated offering expenses, pursuant to a registered direct offering.

The Company expects to use the net proceeds from the Offering for working capital and other general corporate purposes. The Offering is expected to close on or about July 15, 2020, subject to the satisfaction of customary closing conditions, including, but not limited to, the listing of the common shares on the Toronto Stock Exchange and the NASDAQ and any required approvals of each exchange and applicable regulators.

A.G.P./Alliance Global Partners is acting as sole placement agent for the Offering.

Neptune Wellness Solutions is a diversified and fully integrated health and wellness company. Through its flagship consumer-facing brands, Forest Remedies™ and Ocean Remedies™, Neptune is redefining health and wellness by building a broad portfolio of natural, plant-based, sustainable and purpose-driven lifestyle brands and consumer packaged goods products in key health and wellness markets, including hemp, nutraceuticals, personal care and home care.