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Neptune Announces Closing Of US$34.1 Million Underwritten Offering Of Common Shares

Stocks in this article: NEPT

LAVAL, Quebec, Oct. 2, 2012 (GLOBE NEWSWIRE) -- Neptune Technologies & Bioressources Inc. (" Neptune") (Nasdaq:NEPT) (TSX:NTB), a biotechnology company engaged primarily in the development, manufacture and commercialization of marine-derived omega-3 polyunsaturated fatty acids, announced today the closing of its previously announced public offering of 7,318,000 common shares at US$4.10 per common share. Prior to the closing, the underwriters exercised their over-allotment option to purchase an additional 989,762 common shares, resulting in a total of 8,307,762 common shares being issued today for gross proceeds of approximately US$34.1 million. RBC Capital Markets and JMP Securities LLC acted as Joint Book-Running Managers for the offering and Byron Capital Markets acted as Manager.

Neptune intends to allocate the net proceeds from the offering as follows: (i) approximately US$9.0 million for sales, marketing and krill inventory purchases for NKO® and EKO™, (ii) approximately US$8.0 million to support Acasti Pharma Inc. (" Acasti") in the development and validation of CaPre® and other product candidates, and to support NeuroBioPharm Inc. (" NeuroBio") in the development and validation of its product candidates, (iii) approximately US$5.0 million to fund the expansion of its Sherbrooke plant that is intended to increase Neptune's annual production capacity to 500,000 kilograms of krill oil, (iv) approximately US$3.0 million to fund product development, clinical trials and regulatory affairs of Neptune (including management and protection of its intellectual property portfolio), and (v) the balance for general corporate and other working capital purposes.

The common shares were issued in the United States pursuant to Neptune's effective shelf registration statement filed with the U.S. Securities and Exchange Commission and in Canada pursuant to a final short form base shelf prospectus filed with the securities regulatory authorities in the Provinces of Québec, Ontario, Manitoba, Alberta and British Columbia.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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