2020-12-01 07:14:52 NEPT Neptune Wellness
12/01/20 12/0107:14 12/01/2007:14 | Neptune Wellness provides update on business transitionNeptune Wellness Solutions provided an update on its transition and growth strategy from CFO and Global Operating Officer Toni Rinow. The Company is completing its transition over Q3 Fiscal 2021 and Q4 Fiscal 2021 from revenue derived from hemp and cannabis extraction to revenue from consumer packaged goods and branded products, such as Mood Ring - an end-to-end developed and manufactured cannabinoid-based product portfolio targeting both wellness-focused CBD consumers looking for natural products, and the recreational market with THC concentrate product. Neptune is beginning its first commercial production of hashish - comprised of extracted cannabis trichomes utilizing its own proprietary technologies at the company's purpose-built facility in Sherbrooke, Quebec. The hashish products are focused on the recreational market for high THC products and will be available to a footprint totaling 567 retail stores across Ontario and British Columbia, with the opportunity to scale to additional retailers in additional provinces upon securing supply agreements. |
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