Neptune Wellness Solutions Inc. (NEPT) Achieves a Milestone with Completion of Phase II Expansion

Starting with Phase II and going forward, Neptune has opted for cold ethanol technology, which could be up to 5x faster than our CO₂ equipment and which consumes up to 2x less energy than our CO₂ technology. Our cold ethanol process combined with the high level of automation of Neptune’s Sherbrooke facility should position the Company as a low-cost manufacturer in Canada. Additionally, in recent weeks, we have received additional security clearance from Health Canada for our production personnel which should alleviate operational constraints.

“The Phase II cold ethanol production was completed on budget and is another important milestone in our capacity expansion strategy. We are currently working on Phase IIIa which will bring total annual extraction capacity to 1,500,000 kg. This capacity expansion is necessary to support the execution of Neptune’s growth strategy to become a global leader in cannabis extraction and purification while meeting the growing demand from consumers for natural products. With our diverse base of 100+ customers across North America in multiple verticals, including legal cannabis and hemp, nutraceutical, and consumer packaged goods, Neptune is well positioned to execute on its growth plans,” said Michael Cammarata, Neptune’s CEO.

About Neptune Wellness Solutions Inc.
Neptune Wellness Solutions specializes in the extraction, purification and formulation of health and wellness products. The Company has in excess of 100 customers across several verticals including legal cannabis and hemp, nutraceutical and CPG. 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, Quebec. The Company also has a 24,000 square-foot facility located in North Carolina to process hemp biomass into extracts. Neptune brings decades of experience in the natural products sector to the legal cannabis and hemp industries. Leveraging its scientific and technological expertise, the Company sees applications for hemp-derived extracts in the U.S. beyond existing markets and product forms and into personal care and home care markets. Neptune’s activities also include the development and commercialization of turnkey nutrition solutions and patented ingredients such as MaxSimil®, and a variety of marine and seed oils. Its head office is located in Laval, Quebec.

Forward Looking Statements

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