LAVAL, QC, January 25, 2023 /PRNewswire/ – Neptune Wellness Solutions Inc. (“Neptune” or the “Company”) (NASDAQ: NEPT), a consumer packaged goods company focused on targeted, sustainable, plant-based lifestyle brands, today announced that Its Employment The baby food brand’s subsidiary, Sprout Organics, has entered into a receivables factoring structure with Alterna Capital Solutions, LLC (“Alterna”). The maximum available is $5 million.
The terms of the agreement include a fee for using the prime funds plus 1% with a minimum interest rate of 8% per annum. Alterna was granted a security interest on Sprout’s credits.
The Agreement will remain in effect for a period of 12 months, effective January 23, 2023, and it will be automatically renewed. Neptune has provided a commercial warranty in connection with this agreement.
About Sprout Organics
Sprout Organics is an organic baby food brand that is committed to making mealtimes easy and fun for parents and kids through delicious snacks and meals made with fresh, organic ingredients. The company aims to make life less complicated, give kids a head start in life, and explore new foods enthusiastically with three simple promises: keep it real, keep it simple, and keep it fun. Sprout uses only the best, real, organic ingredients in everything it makes, which means certified organic food in every bite straight from nature, GMO-free. For more information, visit www.sproutorganics.com.
About Nettuno Wellness Solutions Inc.
Neptune is a consumer packaged goods company aiming to innovate health and wellness products. Founded in 1998 and based in Laval, Quebec, the company focuses on developing a portfolio of high-quality, affordable consumer products in line with the latest market trends for natural, sustainable, plant-based and targeted lifestyle brands. The company’s products are available in more than 27,000 retail outlets and include well-known organic food and beverage brands such as Sprout Organics, Nosh and Nurturme, as well as nutraceutical brands such as 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–Forward-Looking Statements
Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements” under applicable securities laws. Such 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 any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are encouraged to consider statements labeled “believes,” “believes,” “expects,” “intends,” “plans,” “anticipates,” ” will”, “should” or “plans” be uncertain and forward-looking. Forward-looking statements relate to future events or future performance and reflect management’s expectations or beliefs regarding future events, including, but not limited to, statements regarding: the timing and outcome of the transactions described in this news release (collectively, the “Transaction”); the anticipated benefits of the Transaction to the parties; and the impact of the Transaction on the Company. With respect to forward-looking statements and information regarding the anticipated benefits and completion of the Transaction and the anticipated timing of completion of the Transaction, the Company has provided such statements and information in reliance on certain assumptions it believes to be reasonable at this time. While the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this press release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur within the time frame. communicated or not at all. The forward-looking statements and information included in this press release are made as of the date of this press release, and the Company undertakes no obligation to publicly update such forward-looking information or information to reflect new information, subsequent events, or otherwise, unless is not required by applicable securities laws.
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 news release are expressly qualified in their entirety by this cautionary statement and the “Forward-Looking Information Cautionary Statement” section contained in Neptune’s latest annual information form, which is also part of Neptune’s latest annual report. on Form 40-F, available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov/edgar.shtml. All forward-looking statements in this press release are made as of the date of this press release. Neptune makes no commitment to update these forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
View original content to download media: https://www.prnewswire.com/news-releases/neptune-wellness-announces-an-accounts-receiving-factoring-facility-of-up-to-5-million- for-its -sprout-organics-baby-food-brand-301729932.html
SOURCE Nettuno Wellness Solutions Inc.