Neptune Wellness Solutions, Inc. (“Neptune” or the “Company”) (NASDAQ: NEPT) (TSX: NEPT) has entered into a supply agreement with Alberta Gaming, Liquor and Cannabis (AGLC), the wholesaler and sole online retailer for recreational cannabis in Alberta, for the sale and distribution of Neptune’s proprietary recreational cannabis brand, Mood Ring.
This is the fourth supply agreement the Company has secured with a provincial cannabis wholesaler, and enables Neptune to sell recreational cannabis products, through its Mood Ring and PanHash brands, to over 1,600 retailers across British Columbia, Alberta, Ontario and Quebec. These four provinces accounted for over 80% of the Canadian cannabis retail sales in 2020, with the AGLC agreement empowering Neptune to rapidly expand in the recreational arena.
“We are very pleased to announce this supply agreement and the upcoming launch of our Mood Ring products in the Alberta market. Alberta was the early leader in Canadian cannabis store rollout and combined with our previously announced agreements with British Columbia, Ontario and Quebec makes our high quality and affordable cannabis products accessible to over 80% of the Canadian cannabis market to date,” said Michael Cammarata, Chief Executive Officer and President of Neptune.
Alberta is Canada’s second largest market for adult-use cannabis products, trailing only the Ontario market. The agreement authorizes Neptune to supply Mood Ring products to AGLC for sale and wholesale distribution. The products are anticipated to be available for purchase this summer by over 600 licensed private retailers in Alberta and online through AlbertaCannabis.org.
Under the agreement, Neptune will supply AGLC with a range of affordable, sustainable and premium cannabis products under the Mood Ring brand for consumer use. Mood Ring uses Neptune’s proprietary cold ethanol extraction process technology to create full spectrum extracts for the Company’s oil and capsule products, while the Company’s solventless extraction processes are used for Mood Ring’s Hashish products. All cannabis products are manufactured at the Company’s purpose-built facility in Sherbrooke, Quebec.
For more information visit https://www.neptunecorp.com/.