Neptune Technologies secures C$12.5 million through 7% six-year loan

Deal with Investissement Quebec funds rebuilding of Sherbrooke plant

By Devika Patel

Knoxville, Tenn., Oct. 11 - Neptune Technologies & Bioressources Inc. said it arranged a C$12.5 million loan financing with Investissement Quebec.

The loan matures in six years and bears interest at 7%.

The investor also will receive 750,000 warrants, which will be exercisable at 110% of the closing price of the company's common stock on the settlement date.

Proceeds will be used to rebuild the company's Sherbrooke plant.

Based in Laval, Quebec, Neptune Technologies develops nutritional products from marine biomasses.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.