Neptune Announces Closing of Debt Financing
Summary
Interest will be payable in kind on the first 6 monthly payment dates after the initial closing date and thereafter will be payable in cash.Pursuant to the terms of the Notes, the Company is also issuing to the Noteholders warrants to purchase an aggregate of 850,000 shares of Neptune common stock, with each warrant exercisable for 5 years following the initial issuance at a price of $0.53 per common share.Neptune is a consumer packaged goods company that aims to innovate health and wellness products. Founded in 1998 and headquartered in Laval, Quebec, 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. 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. In respect of the forward-looking statements and information concerning the anticipated benefits and completion of the Transaction and the anticipated timing for completion of the Transaction, the Company has provided such statements and information in reliance on certain assumptions that it believes are reasonable at this time. Neptune does not undertake to update any such forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.