Neptune Receives License to Process Cannabis from Health Canada

Neptune Receives License to Procedure Cannabis from Health Canada

“In 2017, we embarked upon a new strategic vision to position the organization in growth markets such as the legal cannabis market and to become a global leader in cannabis extraction, purification and formulation of value-added differentiated products.

Since then, we have executed a carefully-planned roadmap to prepare our significant manufacturing capacity for manufacturing, protected multi-year industrial contracts with terrific companies like Canopy Growth, and expand our strategic relationships, recently beginning a collaboration agreement with Lonza, a global market leader for the production of unique value-added capsules. ”

He went on, “We understood all this while moving along the various steps of the licensing process. Today, with our Health Canada processing license in hand, we formally enter the sizable cannabis market and are fully prepared to start commercializing our extraction capabilities. This tremendous achievement reflects the professionalism and experience of our team, led by Michel Timperio, who is fully committed and eager to start actual delivery on the promise of our vision. Furthermore, we are very proud to be one of the few Quebec-based companies which have received a license from Health Canada, and look forward to contributing to the emerging industry in our home province”.

The Health Canada license empowers Neptune to manage dried cannabis, to manufacture and purify cannabis extracts and cannabis oil, and also to sell its services to other license holders. With manufacturing activities anticipated to commence shortly at Neptune’s 50,000 square foot good manufacturing practice (GMP)-certified facility in Sherbrooke, Quebec, the Company anticipates manage to generate revenues from existing supply agreements and conclude additional agreements soon.

Neptune stays on track to complete its Phase II capacity investment by March 2019, which will boost its centre ’s input capacity to 200,000 kg of dried cannabis from a current capacity of 30,000 kg. This will position Neptune one of Canada’s largest cannabis processors, with added significant capacity expansion potential in the Sherbrooke centre of up to 6,000 metric tons to satisfy global demand for medical cannabis products. The cooperation with Lonza for the production of unique value-added capsules, together with significant manufacturing capabilities, will allow Neptune to expand its strategy from a service provider to other licence holders into a supplier of distinguished cannabis products to customers in Canada. The Company is presently in the process of applying for additional authorization for sale of cannabis products from Health Canada to match the processing license, allowing for additional supply of finished form cannabis products directly to patients and consumers.

“This is a thrilling moment for Neptune as our vision to redeploy our core competencies to exciting consumer product categories by creating and delivering distinguished formulations for the burgeoning cannabis market becomes a reality. Neptune’s longstanding scientific expertise in the formulation of natural health products supports our ability to provide exceptional quality formulations for our business clients. The processing license granted by the agency puts us on a new growth trajectory, positioning Neptune as a supplier of pulled cannabis products in this large, growing global market segment,” reasoned Mr. Hamilton.

Neptune Wellness Solutions specializes in the extraction, purification and formulation of health and wellness solutions. Bringing years of experience in the natural products industry to the legal cannabis industry, Neptune is accredited by Health Canada to process cannabis for the production of cannabis oils and extracts in its 50,000 square foot facility located in Sherbrooke, Quebec. Leveraging its scientific and technological expertise, Neptune functions as a service provider to license holders as part of a multi-phase growth strategy focused on the development of value-added and differentiated goods for the Canadian and global cannabis markets. Neptune’s activities also include the formulation, development and commercialization of turnkey nutrition solutions and patented ingredients such as MaxSimil®, and of an assortment of seed and marine oils. Its head office is located in Laval, Quebec.

Released at Thu, 10 Jan 2019 05:21:35 +0000

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