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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 -0.19% /zigman2/quotes/203840062/delayed CA:NEPT -2.97% announced Friday an agreement with cannabis company Tilray Inc. /zigman2/quotes/209129655/composite TLRY -3.73% 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 -0.59% has climbed 26% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.61% 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
$ 0.78
-0.0015 -0.19%
Volume: 570,818
Aug. 3, 2021 1:15p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$135.11 million
Rev. per Employee
$278,797
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/zigman2/quotes/203840062/delayed
CA : Canada: Toronto
$ 0.98
-0.03 -2.97%
Volume: 60,102
Aug. 3, 2021 11:42a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$168.75 million
Rev. per Employee
$368,581
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/zigman2/quotes/209129655/composite
US : U.S.: Nasdaq
$ 14.07
-0.55 -3.73%
Volume: 10.38M
Aug. 3, 2021 1:16p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$6.56 billion
Rev. per Employee
$244,326
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/zigman2/quotes/204332491/composite
US : U.S.: NYSE Arca
$ 17.78
-0.11 -0.59%
Volume: 379,683
Aug. 3, 2021 1:15p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,414.11
+26.95 +0.61%
Volume: 1.20B
Aug. 3, 2021 1:16p
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