LAVAL, Quebec, Oct. 4, 2012 (GLOBE NEWSWIRE) -- Neptune Technologies & Bioressources Inc. (" Neptune") (Nasdaq:NEPT) (TSX:NTB) confirmed today that holders of common shares of Neptune (" Common Shares") entitled to receive units (each a " Unit") of NeuroBioPharm Inc. (" NeuroBio") owned by Neptune by way of the dividend-in-kind announced on September 7, 2012 (the " Dividend") will receive one Unit for each lot of approximately 29.27 Common Shares held based upon the number of Common Shares outstanding on the date hereof, taking into account the issuance on October 2, 2012 of 8,307,762 additional Common Shares in connection with the closing of Neptune's US$34.1 million underwritten offering of Common Shares. As indicated in the press relase issued by Neptune on September 7, 2012, 2,000,000 Units owned by Neptune will be distributed pro rata to the holders of record of Common Shares at the close of business on October 15, 2012 (the " Dividend Record Date") by way of the Dividend. The Dividend is payable on October 31, 2012. Each Unit will consist of one (1) class A subordinate voting share of NeuroBio (each a " Class A Subordinate Voting Share") and two (2) Series 2011-1 warrants (each a " Warrant"). Each full Warrant entitles its holder to purchase one (1) Class A Subordinate Voting Share of NeuroBio at a price of $0.40 plus a transfer premium of $0.35 payable to Neptune upon exercise with each Warrant expiring on the occurrence of the earliest of the two following events: (i) fifteen (15) days after the listing of the Class A Subordinate Voting Shares on a recognized stock exchange; or (ii) April 12, 2014. Shareholders will not receive shares or cash in lieu of fractional securities and any fractional securities will be rounded down to the nearest whole number. Had the spinoff been completed on the date of this press release, Neptune estimates that the fair market value of the unit comprised of the Class A Subordinate Voting Shares and of the Warrants distributed to Shareholders should have been approximately $0.10 per tranche of 29.27 Neptune common shares outstanding on that date. The Units, Class A Subordinate Voting Shares and Warrants are subject to certain transfer restrictions in the United States.