Benzinga | Nov 16, 2020 04:16PM EST

Neptune Wellness Solutions Inc. Receives Over $100M in Purchase Orders

Neptune Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ:NEPT) (TSX:NEPT), a diversified and fully integrated health and wellness company focused on natural, plant-based, sustainable and purpose-driven lifestyle brands, announced today that its Neptune Health and Wellness Innovation Inc. division has landed an aggregate of over US$100 million in new delivery orders (the "Purchase Orders").



The Purchase Orders come from six different Neptune clients and is indicative of business interest in Neptune as a preferred distributor for major corporations seeking innovative and critical health/wellness products, the Company added.

"We are continuing to vet and add additional products in specific areas which we've identified as having the greatest opportunity for growth and success in the health and wellness space, including in personal protective equipment," a spokesperson for the Company said. "Our footprint for distribution has been growing exponentially over the last several months and we see that continuing through the end of the year."

Added the spokesperson: "We remain committed to increasing shareholder value as well as confidence and these Purchase Orders are evidence that our B2B and B2C dual go-to-market strategy to serve consumers at both wholesale and retail levels, is yielding consistent, long-term revenue opportunities."

It should be noted, however, that the purchase orders are not guaranteed, and there is no certainty that all of the orders will be completed or that they will be fulfilled in their entirety.