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December 4, 2012
09:33 EDTNEPTNeptune Technologies announces royalty prepayment agreement with Acasti Pharma
Neptune Technologies & Bioressources announces it has entered into a prepayment agreement with Acasti Pharma , a majority-owned subsidiary of Neptune, pursuant to which Acasti has exercised the option embedded in its exclusive technology license agreement dated August 7, 2008 entered into between Acasti and Neptune to pay in advance all of the future royalties payable under the License Agreement. The Prepayment will have the effect of increasing Neptune's equity participation in Acasti (from approximately 57% to approximately 61% if shares were issued on this date), given that Neptune, subject to required approvals, will be issued 6.75M Class "A" shares in the share capital of Acasti, issuable at a price of $2.30 per Share, upon the exercise of a warrant delivered to Neptune at the signature of the Prepayment Agreement. This reflects a Prepayment value, confirmed by an independent valuation expert using the pre-established Prepayment formula set forth in the License Agreement, that amounts to approximately $15.5M.
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May 27, 2015
17:39 EDTNEPTNeptune Technologies sees Q1 revenue approximately $2M, one estimate $6.8M
In line with Neptune's decision to slow production down to address product handling characteristics, consolidated sales for the first quarter ending May 31 are expected to come in at approximately $2M, while the gross margin will remain under pressure. "However, with the positive momentum we are seeing at the plant and a robust sales pipeline we expect sales for the second quarter ending August 31, 2015 to be materially higher," highlighted CEO Jim Hamilton. "Our overriding objectives are to ensure customers receive a premium product and to optimize plant output in a cost effective manner, while building out demand as we increase production."
17:37 EDTNEPTNeptune Technologies reports Q4 net loss ($10.679M) vs. ($1.327M) a year ago
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