EX-99.1

Exhibit 99.1

LOGO

Neptune Wellness Solutions Inc. Closes US$8,000,000 Registered Direct Offering

LAVAL, QC, March 14, 2022 /CNW Telbec/ - Neptune Wellness Solutions Inc. (“Neptune” or the “Company”) (NASDAQ: NEPT) (TSX: NEPT), a diversified and fully integrated health and wellness company focused on plant-based, sustainable and purpose-driven lifestyle brands, today announced that it has closed on the previously announced registered direct offering with a single strategic consumer-focused institutional investor for the purchase and sale of (i) 18,500,000 common shares of the Company (“Common Shares”) and (ii) 6,500,000 pre-funded warrants (the “Pre-Funded Warrants”), with each Pre-Funded Warrant exercisable for one Common Share. The Common Shares and the Pre-Funded Warrants were sold together with Series A Warrants (the “Series A Warrants”) to purchase up to an aggregate of 25,000,000 Common Shares and Series B Warrants (the “Series B Warrants” and collectively with the Series A Warrants, the “Common Warrants”) to purchase up to an aggregate of 25,000,000 Common Shares. Each Common Share and the accompanying Common Warrants were sold together at a combined offering price of US$0.32, and each Pre-funded Warrant and accompanying Common Warrants were sold together at a combined offering price of US$0.32, for aggregate gross proceeds of US$8.0 million before deducting fees and other estimated offering expenses. The Pre-Funded Warrants are funded in full at closing except for a nominal exercise price of US$0.0001 and are exercisable commencing on the Closing Date, and will terminate when such Pre-Funded Warrant is exercised in full. The Series A Warrants have an exercise price of US$0.32 per share and are exercisable six months after the closing date, and will expire five and one half years from the date of issuance. The Series B Warrants have an exercise price of US$0.32 per share and are exercisable six months after the closing date, and expire 18 months from the date of issuance (collectively the “Offering”).

The Company expects to use the net proceeds from the Offering for working capital and other general corporate purposes.

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

The Offering of the Common Shares, Pre-Funded Warrants and the Common Warrants, and shares underlying such Pre-Funded Warrants and Common Warrants (collectively, the “Securities”) were offered pursuant to Neptune’s shelf registration statement on Form F-3 (File No. 333-262411), which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 9, 2022. The Offering of the Securities was made only by means of a prospectus supplement filed with the SEC that forms a part of the registration statement. The Offering was made in the United States only and no Securities were offered in any jurisdiction of Canada or to, or for the benefit of, residents in any jurisdiction of Canada.

Copies of the prospectus supplement relating to the Offering, together with the accompanying prospectus, can be obtained at the SEC’s website at www.sec.gov or from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28^th Floor, New York, NY 10022 or via telephone at 212-624-2060 or email: prospectus@allianceg.com and will be available under the Company’s profile on EDGAR at www.sec.gov.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.