Neptune Subscribes to Acasti Pharma's Rights Offering
20 September 2011 - 10:00PM
Neptune Technologies & Bioressources Inc. ("Neptune" or the
"Corporation") (Nasdaq:NEPT) (TSX-V:NTB) announces that, following
regulatory approval, it obtained and exercised its right to
subscribe to Acasti Pharma Inc's ("Acasti") rights offering, which
closed on September 14, 2011.
The subscription in Acasti's rights offering was part of
Neptune's business strategy and action plan.
"Neptune increased its ownership position in Acasti by
subscribing to approximately 2 million shares at $1.25, and
investing close to $2.5 million in the company," stated André
Godin, CFO of Neptune. "This is a clear demonstration of Neptune's
vigorous support and overall commitment to Acasti's business plan
and drug development program."
Neptune also welcomes Michel Chartrand as Chief Operating
Officer (''COO''). Mr. Chartrand, a business management specialist,
has held several management positions throughout his career. During
which he gained extensive experience in operations management,
business development and strategic alliances and integrations. He
was National Director, Banners with Médis (now McKesson Canada)
before leaving in 1998 to lead the integration of the banners Santé
Services and Obonsoins. In 2004, he orchestrated a second merger,
where Santé Services Obonsoins and Essaim became Groupe PharmEssor,
leading to the creation of Proxim in 2006. Mr. Chartrand acted as
President and CEO of Proxim from 2004 to 2008. Proxim was acquired
by McKesson Canada in June 2008 and Mr. Chartrand held the role of
Vice President, Retail Partner Solutions at McKesson until July
2011. Mr. Chartrand has been an important board member for Neptune
since 2005, Acasti since 2008 and NeuroBioPharm Inc. since
2011.
"It's with great enthusiasm that I join Neptune's management
team. After more than 20 years of working in the pharmaceutical
field, my nomination within the Corporation represents a new and
exciting challenge for me," stated Michel Chartrand, COO.
"Neptune needed to grow its management team in order to execute
its business plan and to better manage its expansion," said Henri
Harland, President and CEO. "With the growing number of tasks and
demands being placed on management, it became clear to the board of
directors that Neptune was in need of an experienced COO to manage
its operations and we knew that Michel Chartrand would be a perfect
candidate to assume that responsibility."
Neptune, Acasti and NeuroBioPharm granted to Mr. Chartrand on
September 16th, 2011 respectively 150,000 stock options exercisable
at $3.50, expiring on September 16th, 2014; 150,000 stock options
exercisable at $1.50, expiring on September 16th, 2016; and 150,000
warrants exercisable at $0.75, expiring April 12th, 2016. The
latter is subject to shareholders' approval.
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 (TSX-V:APO) 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 astaxanthin, a potent antioxidant. Acasti Pharma is focusing
initially on treatments for chronic cardiovascular and
cardiometabolic conditions within the over-the-counter, medical
food and prescription drug markets.
About NeuroBioPharm Inc.
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 Contact:
Neptune Technologies & Bioressources Inc.
Andre Godin, CFO
+1.450.687.2262
a.godin@neptunebiotech.com
www.neptunebiotech.com
CEOcast Contact:
Dan Schustack
+1 212-732-4300
dschustack@ceocast.com
www.ceocast.com
Howard Group Contact:
Dave Burwell
(888) 221-0915
dave@howardgroupinc.com
www.howardgroupinc.com
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