MONTREAL, June 20, 2002 Neptune Technologies & Bioressources inc., (TSX-V: NTB), will reach profitability with its first order for its marine oil extracted from krill sold under the brand name NKO™. This major order comes from its US distributor CPB International, Inc.
With this 5,4 Million $ CDN order, Neptune fulfills 40 % of its first year production capacity of NKO™ via its patented Neptune OceanExtract™ process that will enable Neptune to reach a net profit for its financial exercise ending May 31, 2003. CPB guarantees itself of a minimum of 1 505 kg per month of NKO™ over a 12 month period.
CPB International, Inc. (CPB), is and has been for over 12 years, an established American / European bulk nutritional and pharmaceutical intermediate distributor located in New Jersey, with an annual turnover of over 30 million $ US. CPB and Neptune have presented to the nutraceutical market the benefits of NKO™ and of its enzyme-rich by-products NKE™, NLK™ and NKA™. Having taking part jointly in six shows and exhibitions, CPB and Neptune have validated with potential retail clients, the enthusiasm and interest for NKO™ and its by products.
“ This first order” says Mr. Henri Harland, President and CEO of Neptune Technologies & Bioressources inc., “ allows us to move ahead towards the first main goal of our strategic development plan which is to pre-sell our first two years production. During this period, we’re developing new products from other marine biomasses while validating the benefits of our existing natural products for various human conditions. This step will allow us to increase the company’s value, which in turn will benefit our supportive shareholders. The company is progressing well,” he adds.
Louis A. Lapointe, Neptune’s Sales Director, is pleased with the current results: “The high level of interest in the nutraceutical world concerning NKOTM is very reassuring as well as exciting. Nutraceutical companies are constantly searching for new innovative products with value added benefits backed by clinical studies. NKOTM meets these demands. Furthermore, Neptune’s marketing strategy of establishing the NKOTM trademark and logo throughout the industry reassures the clients in our firm commitment of becoming an established reputable raw material manufacturer as well as a strategic marketing partner.
Mr. Steve Lukas, Vice-president of CPB International, Inc. comments on his business relation with Neptune and his clients’ reactions: “Neptune is presenting to the nutraceutical market, products that deserve to be known for their quality, science and leading edge. The results of our commercial efforts are bringing us to place this major order, as we continue representation to increase the demand for Neptune’s products.
Neptune Technologies & Bioressources inc., exploits extraction processes of marine biomasses such as krill and other under exploited marine resources such as red crab and calanus in order to offer its products to nutraceutical, cosmetic, cosmeceutical and biopharmaceutical markets Due to its technologies, Neptune Technologies & Bioressources Inc. is strategically well positioned in the huge and emerging markets based on the health and wellness concepts, markets in which natural biomass extraction will play an important role in developing nutrigenomics, the next wave in nutritional research.
Neptune Technologies & Bioressources Inc. is listed on the TSX Venture Exchange where its shares trade under the ticker symbol NTB.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.