Company also announces completed settlement
of class action lawsuit
LAVAL,
QC, Oct. 13, 2023 /CNW/ - 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, has prepaid in
full its senior secured notes with CCUR Holdings, Inc. and Symbolic
Logic, Inc., after a payment of approximately $2.3 million. The senior
secured notes had an original principal amount of $4 million and bore a fixed interest rate of
16.5% per annum.
Additionally, the Company has completed the previously announced
settlement of a putative shareholder class action lawsuit filed
against Neptune and certain of its current and former officers and
directors.
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
with a United States headquarters
in Jupiter, Florida, 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 29,000
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
This news release contains "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of applicable securities laws.
All statements, other than statements of historical fact, are
forward-looking statements and are based on expectations,
estimates, and projections as at the date of this news release. Any
statement that involves discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions,
future events or performance (often but not always using phrases
such as "expects", or "does not expect", "is expected",
"anticipates" or "does not anticipate", "plans", "budget",
"scheduled", "forecasts", "estimates", "believes" or "intends" or
variations of such words and phrases or stating that certain
actions, events or results "may" or "could", "would", "might" or
"will" be taken to occur or be achieved) are not statements of
historical fact and may be forward-looking statements.
Actual future results may differ materially. There can be no
assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. Forward-looking statements reflect
the beliefs, opinions and projections of management on the date the
statements are made and are based upon a number of assumptions and
estimates that, while considered reasonable by the respective
parties, are inherently subject to significant business, economic,
competitive, political and social uncertainties and contingencies.
Readers should not place undue reliance on the forward-looking
statements and information contained in this news release
concerning these times. The Company does not assume any obligation
to update the forward-looking statements of beliefs, opinions,
projections, or other factors, should they change, except as
required by applicable law.
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SOURCE Neptune Wellness Solutions Inc.