# EDGAR Filing Document

**Accession Number:** 0001401395
**File Stem:** 0000950170-23-005629
**Filing Date:** 2023-3
**Character Count:** 11400
**Document Hash:** a3112ba87fd4d08cf30d6fda6f30953a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-23-005629.hdr.sgml**: 20230302

**ACCESSION NUMBER**: 0000950170-23-005629

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230224

**ITEM INFORMATION**: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230302

**DATE AS OF CHANGE**: 20230301

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Neptune Wellness Solutions Inc.
- **CENTRAL INDEX KEY:** 0001401395
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** A8
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33526
- **FILM NUMBER:** 23695459

**BUSINESS ADDRESS:**
- **STREET 1:** 545 PROMENADE DU CENTROPOLIS
- **STREET 2:** SUITE 100
- **CITY:** LAVAL
- **STATE:** A8
- **ZIP:** H7T 0A3
- **BUSINESS PHONE:** (450) 687-2262

**MAIL ADDRESS:**
- **STREET 1:** 545 PROMENADE DU CENTROPOLIS
- **STREET 2:** SUITE 100
- **CITY:** LAVAL
- **STATE:** A8
- **ZIP:** H7T 0A3

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Neptune Technologies & Bioressources Inc.
- **DATE OF NAME CHANGE:** 20070530

?xml version="1.0" encoding="ASCII"? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

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**FORM** 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** February 24, 2023<br>

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NEPTUNE WELLNESS SOLUTIONS INC.

**(Exact name of Registrant as Specified in Its Charter)**

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| | | |
|:---|:---|:---|
| Quebec | 001-33526 | Not applicable |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 545 Promenade du Centropolis<br>Suite 100 |  |  |
| Laval**,** Quebec**,** Canada |  | H7T 0A3 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

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**Registrant's Telephone Number, Including Area Code:** 450 687-2262<br>

N/A<br>

**(Former Name or Former Address, if Changed Since Last Report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| Common Shares, no par value per share | NEPT | The Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 3.01 Notice of Delisting of Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.** On February 23, 2023, Neptune Wellness Solutions Inc. (the "Company") received a notice (the "Notice") from The NASDAQ Stock Market ("Nasdaq") stating that because the Company had not yet filed its Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2022 (the "Form 10-Q"), the Company is no longer in compliance with Nasdaq Listing Rule 5250(c)(1). Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the "SEC").

The Notice states that the Company has 60 calendar days from February 23, 2023, to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rules. If Nasdaq accepts the Company's plan, then Nasdaq may grant the Company up to 180 days from the prescribed due date for filing the Form 10-Q to regain compliance. If Nasdaq does not accept the Company's plan, then the Company will have the opportunity to appeal that decision to a NASDAQ Hearings Panel.

On February 24, 2023, the Company issued a press release announcing its receipt of the Notice. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits.

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [<u>Press release, dated February 24, 2023</u>](nept-ex99_1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  |  |  | Neptune Wellness Solutions Inc. |
| Date: | March 1, 2023 | By:  | /s/ Raymond Silcock |
|  |  |  | Raymond Silcock<br>Chief Financial Officer |

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## Ex-99

**Exhibit 99.1**

![img153526410_0.jpg](img153526410_0.jpg)

SOURCE: Neptune Wellness Solutions Inc.

**Neptune Announces Receipt of NASDAQ Notification**

**LAVAL, QUÉBEC, CANADA – February 24, 2023** – 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 the Company has received written notification from the Listing Qualification Department of the Nasdaq Stock Market LLC on February 23, 2023, notifying the Company that it is no longer in compliance with Nasdaq Listing Rule 5250(c)(1), as a result of Neptune not having timely filed its Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2022 with the U.S. Securities and Exchange Commission.

The Nasdaq notice has no immediate impact on the listing or trading of the Company's common stock on the Nasdaq Capital Market. The notice provides that the Company has until April 24, 2023 (that is, 60 calendar days from the date of the Nasdaq notice) to submit to Nasdaq a plan (the "Compliance Plan") to regain compliance with the Nasdaq Listing Rules. If Nasdaq accepts the Compliance Plan, Nasdaq can grant the Company an exception to extend for an additional 180 calendar days from the extended due date of the Form 10-Q filing date, or August 21, 2023, to regain compliance.

The Company is working diligently to file its Form 10-Q. While the Company can provide no assurances as to timing, Neptune expects to file its fiscal third quarter 2023 Form 10-Q in the near future, which would eliminate the need for the Company to submit a formal plan to regain compliance. Following the release of Form 10-Q, the Company will host a conference call to discuss and provide a business update. The conference call details will be announced in advance.

This announcement is made in compliance with the Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a notification of deficiency.

**About Neptune Wellness Solutions Inc.**

Neptune is a consumer-packaged goods company that aims to innovate health and wellness products. Founded in 1998 and headquartered in Laval, Quebec, the company focuses on developing a portfolio of high-quality, affordable consumer products that align with the latest market trends for natural, sustainable, plant-based and purpose-driven lifestyle brands. The company's products are available in more than 27,000 retail locations and include well-known organic food and beverage brands such as Sprout Organics, Nosh, and Nurturme, as well as nutraceuticals brands like Biodroga and Forest Remedies. With its efficient and adaptable manufacturing and supply chain infrastructure, the company can quickly respond to consumer demand, and introduce new products through retail partners and e-commerce channels. Please visit neptunewellness.com for more details.

**Disclaimer – Safe Harbor Forward–Looking Statements** <br>Statements in this news release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of applicable securities laws. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of Neptune to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes", "belief", "expects", "intends", "projects", "anticipates", "will", "should" or "plans" to be uncertain and forward-looking. Forward-looking statements relate to future events or future performance and reflect management's expectations or beliefs regarding future events including, but not limited to, statements with respect to the timing of

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**Exhibit 99.1**

reporting quarterly results. Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking statements and information included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement and the "Cautionary Note Regarding Forward-Looking Information" section contained in Neptune's latest Annual Report on Form 10-K and it subsequent filings, which are available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml. All forward-looking statements in this news release are made as of the date of this news release. Neptune does not undertake to update any such forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

**Media Contacts:**

media@neptunecorp.com

**Investor Contacts:**

Valter Pinto, Managing Director

KCSA Strategic Communications

neptune@kcsa.com

212.896.1254 ------