LAVAL, QC, July 8 2019 / CNW Telbec / – Neptune Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT) (TSX: NEPT), today announces the appointment of Michael Cammarata, a recognized entrepreneur and innovator in the wellness solutions industry, as Chief Executive Officer. After more than four years, Jim Hamilton retires as Chief Executive Officer and member of the Board of Directors but remains an advisor to the Board of Directors.
Over the last 20 years, Mr. Cammarata has been an accomplished entrepreneur, creating multiple companies and investing in several sectors including wellness solutions, biotechnology, advertising, electronics and animation from his own venture capital firm, Random Occurrence.
Michael Cammarata is the co-founder of Schmidt's Naturals, a division of Unilever, which has quickly gained recognition as one of the fastest growing brands in the wellness solutions industry. Mr. Cammarata's investments, strategic partnerships in the retail industry and his deep understanding of digital architecture have contributed to rapid breakthroughs for Schmidt's Naturals from its beginnings in 2015 to the sale at Unilever in 2017 He led Schmidt's Naturals as CEO towards an exponential growth of the brand in 2018 and 2019 by increasing domestic and global distribution and expanding the product line including the introduction of hemp-based health products.
"Michael has a lot of experience as a leader and is at the forefront of innovation. His ability to identify new trends led to the development of successful products "said John Moretz, Chairman of the Board of Neptune. "Our customers will benefit from his skills. In addition Michael has the optimal combination of operational experience, leadership and experience in the technology industry to lead Neptune to other levels. "
"I am delighted to receive this opportunity and accept this new role as I followed the evolution of Neptune and I am excited by their positioning in the market. Neptune is well positioned for rapid and sustainable growth in the coming years and I am eager to bring the skills and knowledge required to succeed and generate shareholder value. Said Mr. Cammarata.
"On behalf of the Board of Directors, and the employees I would like to sincerely thank Jim Hamilton for his work and contribution over the past four years as President of Neptune "said John Moretz. "During his term, Jim executed a well-planned transition through acquisitions and asset sales. As a result, Neptune now operates in larger markets with strong growth potential such as the legal cannabis industry, which has created a lot of value for shareholders. With this momentum, Jim felt the time had come to leave Neptune in the hands of a new leadership supported by a good team in place to achieve success in the company's next phase of development. We are delighted that he remains an advisor to the Board of Directors "concluded Mr. Moretz.
About Neptune Wellness Solutions
Neptune Wellness Solutions specializes in the extraction, purification and formulation of health and wellness products. 9354-7537 Québec Inc., a wholly-owned subsidiary of Neptune, holds a health license Canada for the processing of cannabis at its 50,000 square foot plant located at SherbrookeIn Quebec, Neptune uses several decades of experience in the natural products industry in the cannabis industry. With this scientific and technological expertise, Neptune is dedicated to developing innovative products for the Canadian and global cannabis markets. Its activities also include the development and commercialization of turnkey nutrition solutions and patented ingredients, such as MaxSimil®, and a rich range of marine oils and seed oils. Its head office is located in Laval, in Quebec.
Statements in this news release that do not relate to past or current events constitute "forward-looking statements" within the meaning of US securities laws and Canadian securities laws. These forward-looking statements involve known and unknown risks and uncertainties and are subject to other unknown factors that could cause Neptune's actual 3 of 3 results to differ materially from past results or future results discussed, expressly or by implication in these forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers should consider that statements that contain words such as "believes", "believes", "intends", "intends", "s" expects, "" intends "or" plans "and the use of the future in these statements denotes the uncertain and forward-looking nature of those statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which are current as of the date of this news release only. The forward-looking information contained in this news release includes, among other things, any information or statement regarding our ability to develop, produce, provide, promote or generate income from the sale of cannabis or hemp products under the agreement; the timing of anticipated capacity results and the timeframe for Neptune to successfully operate its low-temperature ethanol extraction process and to generate or generate income from the sale of cannabis-based products or resulting hemp; evolution of government regulation and the ability or inability to Neptune of comply with it.
The forward-looking statements contained in this news release are qualified by the cautionary statement contained in this notice and the "Cautionary Statement Regarding Forward-Looking Information" section of Neptune's most recent annual information form, which is also part of annual report on Neptune's most recent Form 40-F, which is available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov/edgar.shtml and in the Investors section of the Neptune website, at www.neptunecorp.com. All forward-looking statements in this news release are current as of the date of this news release. Neptune does not undertake to update any forward-looking statements as a result of new information, future events or for any other reason, except as required by law. In addition, the forward-looking statements in this news release generally involve other risks and uncertainties that are described from time to time in Neptune's public filings with the Securities and Exchange Commission and the Canadian securities commissions. Additional information about these assumptions, risks and uncertainties can be found in the "Risk Factors" section of the Annual Information Form.
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SOURCE Neptune Wellbeing Solutions Inc.
For further information: Contacts: Canada, Pierre Boucher, MaisonBrison, 1.514.731.0000, firstname.lastname@example.org; United States, Carolyn Capaccio / Jody Burfening, LHA, 1.212.838.3777, email@example.com / firstname.lastname@example.org; Media: Sabrina Di Blasio, Neptune Wellness Solutions, 514.258.8183, email@example.com
Here is what you need to know before visiting your regional medical dispensary:You may require a doctor’s recommendation, medical cannabis certification, or whatever proper documentation is required by your condition. Ordinarily, you must be 18 or older to be eligible for a medical consent, but exceptions may be made in some states for minors with particularly debilitating conditions. You will often register with a medicinal dispensary. This is to keep your medical cannabis recommendation or certificate on file for regulatory and legal purposes. There will be a waiting space. This will be to control the circulation of patients and product, but a simple dividing wall also gives patients solitude and direct one-on-one contact using a budtender to discuss medical issues. This process can assist budtenders and patients track effective medicine as well as have a living listing of producers and products for future reference and follow up. Medicinal dispensaries usually allow you to smell and analyze the buds prior to buy. This may vary from state-to-state.
DOES AN APPLICANT NEED MUNICIPAL APPROVAL BEFORE RECEIVING A RETAIL CANNABIS LICENSE? Yes, municipal approval is necessary prior to the AGLC will subject a retail cannabis license. Applicants must get in contact with their planned municipality to learn requirements concerning municipal retail cannabis laws, zoning requirements, land-use limitations, and place requirements concerning how near a retail store is into a provincial health care facility, school, or parcel of land designated as a school reserve.
Keep non-medical cannabis legal Adults who are 19 decades or older are able to:Possess up to 30 g of authorized dried cannabis or the equivalent in their own person. Share up to 30 g of legal cannabis with other adults in Canada. Purchase cannabis goods from a Yukon Liquor Corporation licensed retailer. Grow up to four crops per family. It’s illegal to present non invasive cannabis to anyone below the age of 19 and also for anybody under the age of 19 to possess any amount of anti inflammatory cannabis in Yukon.It is illegal and dangerous to drive while under the influence of cannabis or other intoxicants.