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June 7, 2019, 6:40 a.m. EDT

Neptune Wellness signs 3-year extraction, purification deal with cannabis company Tilray

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By Tomi Kilgore

Neptune Wellness Solutions Inc. /zigman2/quotes/207537677/composite NEPT -3.38% /zigman2/quotes/203840062/delayed CA:NEPT -2.32% announced Friday an agreement with cannabis company Tilray Inc. /zigman2/quotes/209129655/composite TLRY -0.71% to provide extraction and purification services. Under terms of the three-year agreement, Neptune will receive a minimum volume of 125,000 kilograms of cannabis and hemp biomass to be processed, with the first year expected to represent one-fifth of total volumes. The first shipment is expected to be received in September 2019. "We are thrilled to be working with Tilray, a globally recognized leader in cannabis," said Neptune Chief Executive Jim Hamilton. "The size and length of this contract is a testament to the strength of our commercial, scientific and operations teams." Neptune's stock, which was still inactive in premarket trade, has run up 56% year to date, while Tilray shares have tumbled 49% and the ETFMG Alternative Harvest ETF /zigman2/quotes/204332491/composite MJ -0.46% has climbed 26% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.45% hs gained 13%.

Read the full story:
Cannabis stocks rise as banking bill advances, investors await Canopy earnings

/zigman2/quotes/207537677/composite
US : U.S.: Nasdaq
$ 2.86
-0.10 -3.38%
Volume: 0.00
July 2, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$302.87 million
Rev. per Employee
N/A
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/zigman2/quotes/203840062/delayed
CA : Canada: Toronto
$ 3.79
-0.09 -2.32%
Volume: 172,379
July 3, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$412.12 million
Rev. per Employee
N/A
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/zigman2/quotes/209129655/composite
US : U.S.: Nasdaq
$ 6.96
-0.05 -0.71%
Volume: 0.00
July 2, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$869.04 million
Rev. per Employee
$62,689
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/zigman2/quotes/204332491/composite
US : U.S.: NYSE Arca
$ 12.92
-0.06 -0.46%
Volume: 0.00
July 2, 2020 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,130.01
+14.15 +0.45%
Volume: 0.00
July 2, 2020 5:19p
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