Neptune Wellness Solutions Inc (NEPT)

[FUNMAN]

Neptune Wellness receives license amendment for sale of dried cannabis flower in Canada

Mar. 23, 2021 8:03 AM ET
Neptune Wellness Solutions Inc. (NEPT)
By: Mamta Mayani, SA News Editor

Neptune Wellness Solutions (NASDAQ:NEPT) jumps 4% premarket after Health Canada provided the Company with a license amendment to allow it to sell dried cannabis flower and pre-rolled cannabis in the Canadian recreational market.

NEPT currently supplies premium cannabis extracts, under its Mood Ring and PanHash brands, and will expand its offering to include all regulated product categories.

The license amendment enables Neptune to leverage trusted partnerships across its supply chain to acquire unique and highly sought-after cultivars.

"Dried flower and associated products derived therefrom will be the latest additions to Neptune's collection of cannabis products, which includes High CBD Oil, High CBD Oil Capsules and Legacy Hashish," said Michael Cammarata President and CEO.

Today's announcement follows Neptune entering into a letter of intent with Société québécoise du cannabis, for the sale of Neptune's new cannabis brand, PanHash.