0001279569-19-001384.txt : 20190617 0001279569-19-001384.hdr.sgml : 20190617 20190617101920 ACCESSION NUMBER: 0001279569-19-001384 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20190617 FILED AS OF DATE: 20190617 DATE AS OF CHANGE: 20190617 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Neptune Wellness Solutions Inc. CENTRAL INDEX KEY: 0001401395 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 000000000 STATE OF INCORPORATION: A8 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33526 FILM NUMBER: 19900652 BUSINESS ADDRESS: STREET 1: 545 PROMENADE DU CENTROPOLIS STREET 2: SUITE 100 CITY: LAVAL STATE: A8 ZIP: H7T 0A3 BUSINESS PHONE: (450) 687-2262 MAIL ADDRESS: STREET 1: 545 PROMENADE DU CENTROPOLIS STREET 2: SUITE 100 CITY: LAVAL STATE: A8 ZIP: H7T 0A3 FORMER COMPANY: FORMER CONFORMED NAME: Neptune Technologies & Bioressources Inc. DATE OF NAME CHANGE: 20070530 6-K 1 neptune6k.htm 6-K

 

 

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16 under

the Securities Exchange Act of 1934

 

For the month of: June 2019   Commission File Number: 001-33526

 

 

NEPTUNE WELLNESS SOLUTIONS INC.

(Translation of Registrant’s name into English)

 

 

545 Promende du Centropolis
Suite 100
Laval, Québec
Canada H7T 0A3
(Address of Principal Executive Office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ¨            Form 40-F  x

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ¨

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes  ¨             No  x

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A

 

 

 

 

 
 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

    NEPTUNE WELLNESS SOLUTIONS INC.
     
Date: June 17, 2019 By: /s/ Mario Paradis
  Name: Mario Paradis
  Title: VP & Chief Financial Officer

 

 

 

 

 

EXHIBIT INDEX

 

   
Exhibit Description of Exhibit
99.1 Press Release dated June 17, 2019

 

 

 

 

 

 

 

EX-99.1 2 ex991.htm NEWS RELEASE DATED JUNE 17, 2019

Exhibit 99.1

 

 

Neptune Receives Health Canada's Amendments to Expand Capacity to 200,000 kg and for Cannabis Oil Capsule Production

LAVAL, QC, June 17, 2019 /CNW Telbec/ - Neptune Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ:NEPT) (TSX:NEPT) is pleased to announce that its wholly owned subsidiary, 9354-7537 Québec Inc., has received a notification letter from Health Canada indicating that all requested license amendments have been approved.

Extraction Capacity Increases to 200,000 kg

The scope of the amendment received from Health Canada permits expansion of cannabis operation areas to include an additional extraction room where Neptune will perform cold ethanol extraction. Ethanol extraction is faster and more cost effective than the CO2 extraction currently used and will increase Neptune's input capacity from 30,000 kg to 200,000 kg.

This seven-fold increase in the Company's capacity will accelerate production and enable fulfilment of commercial commitments. Start-up activities will begin immediately, including the final stages of commissioning the equipment, and Neptune will ramp up commercial operations on a progressive basis during the second fiscal quarter.

Production of Cannabis Oil Capsules to Commence

The amendment from Health Canada also includes expansion for an encapsulation room where Neptune will produce cannabis oil capsules using the Licaps® technology licensed from Lonza Group AG. The encapsulation equipment is commissioned and ready for commercial operations with a capacity of up to 200 million capsules annually. The Licaps® technology supports differentiated product offerings through its various delivery systems, colours and branding possibilities. Furthermore, this is an effective technology for variable and multiple product formulation runs.

Management Commentary

"Congratulations are in order as this announcement marks another milestone achieved by our team by successfully meeting the stringent Health Canada requirements," said Jim Hamilton, CEO of Neptune. "The new regulations regarding cannabis edibles, extracts and topicals recently published by Health Canada are expected to result in significant additional demand for cannabis extraction and purification services. With our increased extraction capacity, Neptune is now well positioned to benefit from this rapidly growing market. In addition, our cannabis oil capsule technology provides the company a differentiated offering for which there is strong demand."

Our Future Plans

Neptune's Board of Directors recently approved an investment of $7 million to establish additional formulation, manufacturing and packaging infrastructure. This investment will allow Neptune to provide formulation services for new expected product forms such as vape pens, topicals, beverages, sprays, and others. A $4 million investment has also been approved, due to strong customer demand, to increase extraction capacity to a total of 1,500,000 kg, under Neptune's Phase IIIA expansion plans targeted for completion before the end of calendar year 2019.

With this approval, Neptune is now positioned to submit further license amendments to incorporate the manufacturing of additional product forms, and packaging capabilities, as well as for the Phase IIIA extraction capacity expansion.

About Neptune Wellness Solutions Inc.
Neptune Wellness Solutions specializes in the extraction, purification and formulation of health and wellness products. 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, Québec. Neptune brings decades of experience in the natural products sector to the legal cannabis industry. Leveraging its scientific and technological expertise, Neptune focuses on the development of value-added and differentiated products for the Canadian and global cannabis markets. Neptune's activities also include the development and commercialization of turnkey nutrition solutions and patented ingredients such as MaxSimil®, and of a variety of marine and seed oils. Its head office is located in Laval, Quebec.

Forward Looking Statements

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. securities laws 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 Neptune 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", "projects", "anticipates", "will", "should" or "plans" to be uncertain and forward-looking. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Forward-looking information in this press release includes, but is not limited to, information or statements about Neptune's ability and timing to successfully operate its cold extraction ethanol operations and to produce, or generate any revenue from the sale of any marijuana-based and hemp-based therefrom; the evolvement of governmental regulations and the ability or failure of Neptune to comply therewith.

The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement and the "Cautionary Note Regarding Forward-Looking Information" section contained in Neptune's latest Annual Information Form (the "AIF"), which also forms part of Neptune's latest annual report on Form 40-F, and which is available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov/edgar.html and on the investor section of Neptune's website at www.neptunecorp.com. All forward-looking statements in this press release are made as of the date of this press release. Neptune does not undertake to update any such forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in Neptune public securities filings with the Securities and Exchange Commission and the Canadian securities commissions. Additional information about these assumptions and risks and uncertainties is contained in the AIF under "Risk Factors".

Neither NASDAQ nor the Toronto Stock Exchange accepts responsibility for the adequacy or accuracy of this release.

 

SOURCE Neptune Wellness Solutions Inc.

 

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2019/17/c8936.html

%CIK: 0001401395

For further information: Investor Information: Canada: Pierre Boucher, MaisonBrison, 1.514.731.0000, pierre@maisonbrison.com; United States: Carolyn Capaccio / Jody Burfening, LHA, 1.212.838.3777, ccapaccio@lhai.com / jburfening@lhai.com; Media Request: Sabrina Di Blasio, Neptune Wellness Solutions, 514.258.8183, s.diblasio@neptunecorp.com

CO: Neptune Wellness Solutions Inc.

CNW 08:23e 17-JUN-19

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