Neptune Wellness Solutions Inc. Closes US $ 55 Million Registered Direct Offer

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LAVAL, QC, February 19, 2021 / PRNewswire / – Neptune Wellness Solutions Inc. (“NEPT” or the “Company”) (NEPT), a diverse and fully integrated health and wellness company focused on natural, plant-based, sustainable and goal-oriented lifestyle brands, today announced the closing of the previously registered direct offering announced to institutional investors for the purchase of 27,500,000 common shares and the private placement of unregistered common share purchase warrants (the “Warrants”) to purchase 6,875,000 common shares. Each common share and the accompanying quarter warrant were sold together at a combined offering price of US $ 2.00 at market price under Nasdaq rules, for total gross proceeds of US $ 55.0 million before deduction of fees and other estimated offering costs (the “Offer”). The common shares were offered and sold in a registered direct placement, and the warrants were offered and sold in a concurrent private placement. The warrants have an exercise price of US $ 2.25 per share, may be exercised from the sixth anniversary of the issue date and will expire 5 years after the issue date.

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

AGP / Alliance Global Partners acted as sole placement agent for the Offer.

For the purposes of TSX approval, Neptune avails itself of the exemption provided in Section 602.1 of the TSX Company Handbook available to “Eligible Interlisted Issuers”, since the Company’s common shares are also listed on NASDAQ Capital. Market and had less than 25% of the aggregate trading volume of its securities listed on all Canadian markets during the twelve months immediately preceding the date on which the application was made to the TSX for approval of the offering.

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 products. Neptune’s simultaneous focus on B2C and B2B brand development provides the Company with international reach and scale from its owned and operated facilities that extract and create product formulations, all the way to the sales floor of major global retailers.

Backed by a disruptive mind, Neptune’s diverse and fully integrated business model focuses on natural, plant-based, sustainable, goal-oriented lifestyle brands and the use of cannabinoids in household products to make them safer, healthier and more efficient. Its portfolio includes emerging brands such as Forest Remedies ™, Ocean Remedies ™, Neptune Wellness ™, Mood Ring ™ and OCEANO3 ™, which are poised for rapid growth and expansion.

Leveraging a cost-effective manufacturing and supply chain infrastructure that can be scaled up or down or in adjacent product categories to identify new opportunities for innovation, Neptune quickly adapts to consumer preferences and demand. , and offers its products and other Fortune 100 brands to market through strategic distribution partnerships, 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-centric solutions. For more 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 United States securities laws and Canadian securities laws. These forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause Neptune’s actual results to differ materially from historical results or from any future results expressed or implied by these forward-looking statements. In addition to statements which explicitly describe these risks and uncertainties, readers are cautioned to consider statements labeled with the terms “belief”, “belief”, “expects”, “intends to”, ” 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 section “Caution regarding forward-looking information” contained in Neptune’s latest annual information form (the “Annual Information Form”), which makes also 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 in the investors section of Neptune’s website at www.neptunecorp.com. All forward-looking statements contained in this press release are made as of the date of this press release. Neptune does not undertake to update these 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 regarding the anticipated closing of the Offer; the intended use of the proceeds of the Offer; and other risks and uncertainties which are described from time to time in public documents filed by Neptune with the Securities and Exchange Commission and Canadian securities commissions. Additional information on these assumptions and these risks and uncertainties is contained in the Annual Information Form under the heading “Risk Factors”.

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

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