Neptune Wellness Solutions Inc. (“Neptune” or the “Company”) (NASDAQ: NEPT) (TSX: NEPT), a diversified and fully integrated health and wellness company focused on plant-based and sustainable lifestyle brands, today announced it launched its Mood Ring branded cannabis flower in the province of Alberta.
“I am pleased to announce that we have officially launched our Mood Ring Florida Citrus Kush flower in the province of Alberta, which has been very well received by consumers in other provinces,” said Michael Cammarata, Chief Executive Officer and President of Neptune. “This is another step in the transformation of our cannabis business from a slow-growth, low margin extraction business to a high growth, higher margin branded CPG business.”
The Alberta launch marks the fourth province, in addition to British Columbia, Ontario and Quebec, where Neptune Wellness now sells its cannabis products under its Mood Ring and PanHash brands. These four provinces account for more than 80% of Canadian cannabis retail sales and provide Neptune Wellness access to more than 2,000 retail cannabis stores in the Canadian market.
With every purchase of our Mood Ring flower products, a portion of the proceeds are donated to the planting of a tree through our partnership with One Tree Planted. The Company expects to launch new Mood Ring and PanHash branded products across its licensed Canadian footprint throughout the coming year. For more information, please visit https://moodring.com or https://panhash.com.
