Neptune nets CAN$10 million as 1st private financing closes

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Krill player Neptune Technologies & Bioressources Inc has raised CAN$ 10,900,000 following an initial private placement financing, as the company seeks ‘new efficient marine phospholipids’.

Net proceeds of the private placement from US and Canadian accredited investors will reportedly allow Neptune to support its sustained growth by staying aggressive in the commercialization of its products worldwide, while proceeding with its production capacity expansion, said Frederic Harland, Neptune’s director of finance.

“It will also allow Neptune to support its own R&D program, seeking new efficient marine phospholipids, to increase its working capital, as well as to accelerate the promising R&D programs of its subsidiaries,”​ added Harland.

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