Neptune Technologies & Bioressources Announces a Private Placement of $2,646,500
October 13 2010 - 8:30AM
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 Andre 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.
About Acasti Pharma Inc.
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.
About NeuroBioPharm
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.
"Neither NASDAQ nor the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
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. Private Securities Litigation
Reform Act of 1995 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 the Company 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," "anticipates," "will," or
"plans" to be uncertain and forward-looking. The forward-looking
statements contained herein are also subject generally to other
risks and uncertainties that are described from time to time in the
Company's reports filed with the Securities and Exchange Commission
and the Canadian securities commissions.
CONTACT: Neptune Technologies & Bioressources Inc.
Andre Godin, V.P. Administration and Finance
+1 450.687.2262
a.godin@neptunebiotech.com
www.neptunebiotech.com
CEOcast
Dan Schustack
+1 212-732-4300
dschustack@ceocast.com
www.ceocast.com
Howard Group
Bob Beaty
(888) 221-0915
bob@howardgroupinc.com
www.howardgroupinc.com
New Tymbal Resources (TSXV:NTB)
Historical Stock Chart
From Jun 2024 to Jul 2024
New Tymbal Resources (TSXV:NTB)
Historical Stock Chart
From Jul 2023 to Jul 2024