LAVAL, QC, Sept. 14 /CNW Telbec/ - Neptune Technologies & Bioressources
Inc. (TSX-V: NTB), active in the field of high value-added natural product
extraction from marine biomasses, such as krill, today reported financial
results for the fiscal year ended May 31, 2005, including a 123% sales
increase over last year.
During this last fiscal year, Neptune continued its communication and
marketing strategy to penetrate the American and Asian markets, resulting in
excellent sales growth.
Financial Results and Highlights:
- Neptune increased sales by 123% to $5,038,000 compared to
$2,262,000 in the previous year.
- Neptune significantly increased its EBITDA by $2,000,000 to
$401,000, compared to a negative EBITDA of $1,659,000 in the
- Fourth consecutive quarter with a positive EBITDA.
- Neptune reduced its net loss by 50% to $1,768,000 or $0.069 per
share for the year ended May 31, 2005, as compared to $3,534,000
or $0.161 per share in the previous year.
André Godin, Vice-President, Administration and Finance for Neptune
Technologies & Bioressources Inc. stated, "We are extremely pleased to be
reporting such excellent improvements and results across all financial
metrics. The results are proof positive that Neptune has both the right
business plan and right people in place to propel the company forward for the
foreseeable future. Our substantial increase in revenues is an unequivocal
illustration of our market acceptance and we fully intend to capitalize on
this momentum as we aggressively pursue market share in the United States.
These are exciting times for Neptune and we look forward to providing our
valued shareholders with even better results in the year ahead."
The complete audited annual report will be available on or before
September 28th for review on SEDAR at:
Stock Option Plan
The board of directors has agreed to grant 1,140,000 options to certain
directors and officers, 540,000 of which will vest over a period of 2 years on
a semi-annual basis and 600,000 of which will vest over a period of 3 years on
a semi-annual basis. Each of these options will allow its holder to acquire a
common share of Neptune at a price of $0.25, until June 14, 2010, subject to
the above vesting provisions, to the terms and conditions of the stock option
plan and to the policies of the TSX Venture Exchange.
Changes to the Board of Directors
Neptune is pleased to announce that Mr. Michel Chartrand, President and
CEO of PharmEssor Group, an important alliance of independent pharmacists, has
been appointed as a Director of Neptune. Neptune also announces that Mr.
Michel Rathier and Mr. Louis Léveillé have resigned as Directors of Neptune.
Neptune has concluded an arrangement with Société Innovatech du Sud du
Québec to extend its $1,500,000 loan until March 31, 2008. This arrangement
provides that all interest accrued as at March 31, 2005 on the initial loan is
capitalized into a new unsecured loan of $2,195,342, bearing interest at an
annual rate of 15%. The interest accrued over the first two (2) years of the
new loan will be capitalized and those of the third year will be payable
monthly during the third year. The principal of the loan may be converted into
common shares of Neptune at a minimum price of $0.32 per share, subject to
certain conditions. The securities issued pursuant to this private placement
are subject to a four (4) month hold period following their issuance.
Conditional approval of this arrangement has been granted by the TSX Venture
Exchange and final approval will be granted upon the satisfaction of certain
This press release is available on the Company's on-line Investor
Relations HUB for investor commentary, feedback and questions. Investors are
invited to visit http://www.agoracom.com/ir/neptune to post questions and
receive answers. Investors are also invited to e-mail any questions regarding
the Company directly to [email protected] Potential investors may also use
this address to request being added to the Neptune Technologies investor e-
Neptune Technologies & Bioressources Inc. http://www.neptunebiotech.com
Neptune Technologies & Bioressources Inc. develops high value added
nutritional products from underexploited marine biomasses, such as krill, with
its patented extraction process (Neptune OceanExtract(TM)). Using an exclusive
process, Neptune Technologies & Bioressources Inc. is well positioned in the
$182 billion global nutrition market (Nutrition Business Journal, Oct/Nov
2004) of health and wellness concepts. Natural biomass extraction is now
playing an important role in developing nutrigenomics, the next wave in
nutritional research. Through strategic alliances and partnerships, as well as
through clinical studies, the Company continues to demonstrate the immense
beneficial effects of these products. The Company develops and markets new
formulas and new products for specific applications in high growth markets
such the nutraceutical, cosmeceutical, biopharmaceutical and nutrigenomics
Except for statements of historical fact, all statements in this news
release - including, without limitation, statements regarding forecasts, plans
and objectives of Neptune Technologies & Bioressources Inc. - are forward-
looking statements that involve various risks and uncertainties. There can be
no assurance that such statements will prove to be accurate; actual results
and future events could differ materially from those anticipated in such
The stock Exchange has not reviewed and does not accept responsibility
for the adequacy and accuracy of this news release.