Neptune, IFF Agree To Co-develop Hemp-derived CBD Products - Quick Facts

(RTTNews) - Neptune Wellness Solutions Inc. (NEPT) has entered into a collaboration agreement with International Flavors & Fragrances Inc. (IFF) to co-develop hemp-derived CBD products for the mass retail and health & wellness markets. The first products under the agreement will be launched in the first half of 2020, and will include a variety of topical products across the aromatherapy category.

Under the agreement, Neptune will issue to IFF 2 million warrants, each allowing the holder to purchase one common share of Neptune at an exercise price of $12.00 per share with a 5-year expiration date.

App Connect Service, Inc., a company indirectly controlled by Michael Cammarata, CEO and Director of Neptune, is also a party to the agreement promotional activities. Neptune will record revenues from product sales and in turn will pay a royalty to each of IFF and App Connect.