Neptune Wellness Solutions Inc.: M&A transaction — Neptune Wellness completes $5.15M divestiture of cannabis assets to PurCann Pharma

Neptune Wellness Solutions Inc.

Completed sale of cannabis business for $5.15M cash to PurCann Pharma, Inc.
Assets divested include Sherbrooke, Québec processing plant, Mood Ring and PanHash brands.
Marks key step in strategy to become a leading pure-play CPG company centered on Sprout brand.
Expects to realize significant cost savings and operational streamlining from redirected resources.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Neptune Wellness Solutions Inc. completed a disposition involving PurCann Pharma, Inc. for $5,150,000 (closed 2022-11-09).

Action: disposition
Counterparty: PurCann Pharma, Inc.
Consideration: $5,150,000
Closing: 2022-11-09

Exact text from the filing

dated as of October 16, 2022, entered into with PurCann Pharma, Inc. (“Purchaser”). Pursuant to the Purchase Agreement, Purchaser paid the Company an aggregate purchase price of $5,150,000. The description above is a summary of the Purchase Agreement and the transactions contemplated thereby and is subject to, and qualified in its entirety by, reference to the full

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Source: SEC EDGAR

accession 0000950170-22-023723

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