Neptune Announces Filing Extension for its Form 10-Q

Rhea-AI Summary

Neptune Wellness Solutions Inc. (NASDAQ: NEPT) announced on February 15, 2023, that it will file for a five-day extension with the SEC for its fiscal 2023 third-quarter financial results, originally due on the same day. The request is primarily due to the short time frame between the delayed filing of its fiscal 2023 second-quarter report and the third-quarter deadline. Neptune plans to release the second-quarter results and schedule a conference call to discuss them shortly. The company specializes in plant-based consumer products and is committed to innovation in health and wellness.

Positive

• Company specializes in plant-based, sustainable consumer products.
• Has a wide distribution network with products in over 27,000 retail locations.

Negative

• Delay in filing financial results could indicate potential operational challenges.
• Compressed timeline for filing raises concerns about financial reporting reliability.

LAVAL, QC, Feb. 15, 2023 /PRNewswire/ - Neptune Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT), a consumer-packaged goods company focused on plant-based, sustainable and purpose-driven lifestyle brands, today announced it will file for an extension with the Securities Exchange Commission ("SEC"), for an additional five days to file its financial results for the fiscal 2023 third quarter, originally due February 15, 2023. The request is predominantly due to the compressed time period between the delayed filing of its Quarterly Report for the second quarter of Fiscal 2023 and the deadline for the Quarterly Report for the third quarter of Fiscal 2023.

Neptune expects to file its fiscal second quarter 2023 financial results and host a conference call to discuss financials and provide a business update as soon as possible. The conference call details will be announced in advance.

About Neptune Wellness Solutions Inc.
Neptune is a consumer packaged goods company that aims to innovate health and wellness products. Founded in 1998 and headquartered in Laval, Quebec, the company focuses on developing a portfolio of high-quality, affordable consumer products that align with the latest market trends for natural, sustainable, plant-based and purpose-driven lifestyle brands. The company's products are available in more than 27,000 retail locations and include well-known organic food and beverage brands such as Sprout Organics, Nosh, and Nurturme, as well as nutraceuticals brands like Biodroga and Forest Remedies. With its efficient and adaptable manufacturing and supply chain infrastructure, the company can quickly respond to consumer demand, and introduce new products through retail partners and e-commerce channels. Please visit neptunewellness.com for more details.

Disclaimer – Safe Harbor Forward–Looking Statements
Statements in this news release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of applicable 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. Forward-looking statements relate to future events or future performance and reflect management's expectations or beliefs regarding future events including, but not limited to, statements with respect to the timing of reporting quarterly results. Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking statements and information included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The forward-looking statements contained in this news 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 Report on Form 10-K and it subsequent filings, which are available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml. All forward-looking statements in this news release are made as of the date of this news 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/neptune-announces-filing-extension-for-its-form-10-q-301748182.html

SOURCE Neptune Wellness Solutions Inc.

FAQ

What is the reason for Neptune Wellness Solutions to file for an extension?

Neptune is seeking a five-day extension to file its fiscal 2023 third-quarter financial results due to a compressed timeline caused by the delayed filing of its second-quarter report.

When is Neptune expected to release its second-quarter financial results?

Neptune has not specified an exact date but intends to release its fiscal second-quarter financial results as soon as possible.

What is the stock symbol for Neptune Wellness Solutions?

The stock symbol for Neptune Wellness Solutions is NEPT.

Where can I find more information about Neptune Wellness Solutions?

More information can be found on Neptune's official website at neptunewellness.com.