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| Neptune Announces A Private Placement of $2,646,500 |
| Wednesday, October 13 2010 | |||||||||
Neptune Technologies & Bioressources Announces A Private Placement of $2,646,500
Laval, Québec, CANADA – October 13, 2010 – Neptune Technologies & Bioressources Inc. (“Neptune” or the “Company”) (NASDAQ: NEPT - TSX.V: NTB) announces the completion of a non-brokered private placement of CDN $2,646,500 through the offering of common shares of Neptune at a price of $1.85 per share (the “Offering”). “We reached our target of closing a gross proceed of $2,500,000 in parts from major institutional investors. The net proceeds of the Offering will be used to increase working capital for Neptune and its subsidiary Acasti Pharma Inc.” said André Godin, Vice president Administration & Finance.Some intermediaries will be entitled to receive a 5% cash commissions ($100,875) as well as an aggregate of 54,527 options in connection with the gross proceed of $2,017,500 received from institutional investors. Each option allows its holder to purchase one common share at a price of $2.50 for a period of one year following the issuance of such option. Other intermediaries will be entitled to receive a 4% cash commission ($25,160) on the gross proceeds ($629,000) not otherwise subscribe by institutional investors. The closing and the commissions payable to the intermediaries will be subject to the TSX Venture Exchange approvals. About
Neptune
Technologies & Bioressources Inc. Neptune is an
industry-recognized leader in the innovation, production and
formulation of science-based and clinically proven novel phospholipid
products for the nutraceutical and pharmaceutical markets. The
Company focuses on growing consumer health markets including
cardiovascular, inflammatory and neurological diseases driven by
consumers taking a more proactive approach to managing health and
preventing disease. The Company sponsors clinical trials aimed to
demonstrate its product health benefits and to obtain regulatory
approval for label health claims. Neptune is continuously expanding
its intellectual property portfolio as well as clinical studies and
regulatory approvals. Neptune’s products are marketed and
distributed in over 20 countries worldwide. Acasti Pharma is developing a product
portfolio of proprietary novel long-chain omega-3 phospholipids.
Phospholipids are the major component of cell membranes and are
essential for all vital cell processes. They are one of the
principal constituents of High Density Lipoprotein (good
cholesterol) and, as such, play an important role in modulating
cholesterol efflux. Acasti Pharma’s proprietary novel phospholipids
carry and functionalize the polyunsaturated omega-3 fatty acids EPA
and DHA, which have been shown to have substantial health benefits
and which are stabilized by potent antioxidants. Acasti Pharma is
focusing initially on treatments for chronic cardiovascular
conditions within the over-the-counter, medical food and
prescription drug markets. NeuroBioPharm
is pursuing pharmaceutical neurological applications, and a
clinical study for a medical food product with a multinational
partner is already initiated. The development of a prescription drug
candidate is currently in progress. Advanced clinical development
and commercialization is planned to be carried out with
multinational partners.
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Investors Relations firms
Please contact the following Investors Relations firms :
CANADA
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Mr. Bob Beaty Toll Free: 1-888-221-0915 +1 403 221.0915 [email protected] www.howardgroupinc.com |
USA
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Mr. Dan Schustack 212 732.4300 [email protected] www.ceocast.com |
- TOLL-FREE (Canada-USA): 1-888-664-9166
- PHONE: 450 687-2262
- FAX: 450 687-2272
- EMAIL: [email protected]