Neptune has exercised its option to exchange existing Sprout debt for equity resulting in Neptune ownership of approximately 89.5% of Sprout

LAVAL, QC, Nov. 8, 2023 /CNW/ - Neptune Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT), a consumer-packaged goods company focused on plant-based, sustainable and purpose-driven lifestyle brands, today announced that it has effectively converted a substantial portion of Neptune's Sprout debt into Sprout equity for the Company's organic baby and toddler food brand, Sprout Organics. In accordance with the terms of the previously announced Exchange option, Sprout debt was exchanged for Sprout equity resulting in Neptune having increased Sprout ownership from 50.1% to approximately 89.5%.