Neptune Wellness Solutions Inc., a diversified and fully integrated health and wellness company focused on natural, plant-based, sustainable and purpose-driven lifestyle brands, announced that Health Canada has provided the Company with a license amendment to allow it to sell dried cannabis flower and pre-rolled cannabis in the Canadian recreational market.
Neptune currently supplies the market with premium cannabis extracts, under its Mood Ring™ and PanHash™ brands, and will expand its offering to include all regulated product categories. This empowers the Company to provide a comprehensive portfolio, enhance its total addressable market and target the lucrative flower segment, which is a dominant force in the industry both in sales and revenue.
“Dried flower and associated products derived therefrom will be the latest additions to Neptune’s collection of cannabis products, which includes High CBD Oil, High CBD Oil Capsules and Legacy Hashish,” said Neptune Wellness Solutions’ President and Chief Executive Officer Michael Cammarata.
The license amendment enables Neptune to leverage trusted partnerships across its supply chain to acquire unique and highly sought-after cultivars. The Company’s dried flower will be carefully selected and curated by an award-winning cannabis sommelier, and then hand packaged in premium packaging. This ensures that the integrity and quality of the carefully sourced flower will be maintained and preserved to provide supreme quality for the customer. The ability to source exceptional flower from any licensed producer will afford flexibility to maximize emerging commercial opportunities and will safeguard Neptune from increased industry volatility.
“This is a very exciting time for Neptune, allowing us to sell all categories of recreational cannabis to meet the demands of our Canadian consumers,” said Mr. Cammarata. “We are excited to bring to market premium dried cannabis flower products that are packaged to preserve their quality and profile.” Today’s announcement follows Neptune Wellness Solutions Inc. entering into a letter of intent with Société québécoise du cannabis (SQDC), the province’s sole legal retailer for recreational cannabis, for the sale of Neptune’s new cannabis brand, PanHash™.
As Neptune continues to redefine the recreational cannabis market, the Company has pledged to align with cultivators that share its core values of sustainability, accountability and excellence to furnish the industry with superior cannabis flower. All cannabis products are manufactured and packaged at the Company’s purpose-built facility in Sherbrooke, Quebec. For more information visit Neptune’s corporate website or the Mood Ring™ website.