Neptune Announces Mood Ring Cannabis Product Launches, Including Flower, in British Columbia

Rhea-AI Summary

Neptune Wellness Solutions Inc. (NASDAQ: NEPT) has announced the launch of three new cannabis products under its Mood Ring brand in British Columbia, marking the introduction of its first branded flower product. The new items include High THC Capsules, High THC Oil, and Florida Citrus Kush Flower, expanding the total to six SKUs in the province. CEO Michael Cammarata stated the company has transformed from a low-margin extraction business to a higher-margin branded consumer packaged goods business. Neptune aims to continue expanding its cannabis product offerings across Canada.

Positive

• Launch of three new cannabis products increases brand portfolio.
• Introduction of first branded flower product enhances product offerings.
• Transition to a higher-margin branded CPG business model potentially boosts profitability.

Negative

• None.

LAVAL, QC, June 10, 2021 /PRNewswire/ - 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 it has launched three new Mood Ring branded cannabis products, including the first branded flower product, in the province of British Columbia.

"I am pleased to announce these exciting new products under the Mood Ring brand in British Columbia, including our first branded flower product" said Michael Cammarata, Chief Executive Officer and President of Neptune. "In less than a year, we have transformed our cannabis business from a slow-growth, low margin extraction business to a high growth, higher margin branded CPG business with two exciting new cannabis brands, Mood Ring and PanHash. Both brands are already well represented in more than 80% of the legal Canadian cannabis market."

Neptune Wellness launched three new products under the Mood Ring brand bringing the total to six SKU's currently being sold in British Columbia. The recently launched products included:

• Mood Ring High THC Capsules
• Mood Ring High THC Oil
• Mood Ring Florida Citrus Kush Flower

The Mood Ring Florida Citrus Kush is Neptune's first branded flower product introduced to the Canadian market.  Mood Ring Florida Citrus Kush is an indica dominant hybrid flower, featuring the rich taste of spicy citrus, with a subtle Kush aftertaste. With every purchase of our Mood Ring flower products, a portion of the proceeds are donated to the planting of a tree through our partnership with One Tree Planted.  The Company expects to launch new Mood Ring and PanHash branded products, including flower, across its licensed Canadian footprint throughout the coming year.

About Neptune Wellness Solutions Inc.

Neptune Wellness Solutions is a unique global health and wellness company that is changing consumer habits through the creation and distribution of environmentally friendly, ethical and innovative consumer product goods. Neptune's simultaneous focus on B2C and B2B customer-oriented brand development provides the Company with international reach and scale from its owned and operated facilities that extract and create product formulation, all the way to the sales floor at top global retailers.

Underpinned by a disruptive spirit, Neptune's diversified, and fully integrated business model focuses on natural, plant-based, sustainable and purpose-driven lifestyle brands and the use of cannabinoids in household products to make them safer, healthier and more effective. Its portfolio includes emerging brands such as Sprout Food, Forest Remedies™, Ocean Remedies™, Neptune Wellness™, Mood Ring™, and OCEANO3™, which are poised for rapid growth and expansion.

Backed with a cost-efficient manufacturing and supply chain infrastructure that can be scaled up and down or into adjacent product categories to identify new innovation opportunities, Neptune quickly adapts to consumer preferences and demand, and is bringing its products as well as other Fortune 100 brands to market through strategic distribution partnerships, mass retail partners and e-commerce channels. Neptune is committed to its core mission of redefining health and wellness and helping humanity thrive by providing sustainable consumer focused solutions. For additional information, please visit: www.neptunecorp.com

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.

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.shtml 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 include, without limitation, statements about the fulfillment of purchase orders, the availability of products from Neptune's supplier, and the anticipated use of proceeds of the financing and 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.

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SOURCE Neptune Wellness Solutions Inc.

FAQ

What new products did Neptune launch under the Mood Ring brand?

Neptune launched three new cannabis products: Mood Ring High THC Capsules, Mood Ring High THC Oil, and Mood Ring Florida Citrus Kush Flower.

When was the Mood Ring cannabis product launch announced?

The launch was announced on June 10, 2021.

Where are the new Mood Ring products available?

The new products are available in British Columbia.

What does the Mood Ring Florida Citrus Kush Flower represent for Neptune?

It is Neptune's first branded flower product introduced to the Canadian market.

What percentage of the Canadian cannabis market do Neptune's brands cover?

Neptune's brands are well represented in over 80% of the legal Canadian cannabis market.