September 17, 2018 / 12:48 PM / a month ago

BUZZ-Neptune Tech: Up on expectation of approval for medical cannabis

** U.S.-listed shares of nutrition products co up nearly 24 pct at $4.73

** Canadian regulator gives nod for co’s request for license to produce medical cannabis

** Co expects license for cannabis extraction after review of its data by Health Canada

** Also expects to complete its C$4.8 mln Phase 2 expansion project by Q1, 2019, taking the total processing capacity to ~200,000 kg of dried cannabis

** Stock jumped 34 pct after partnering with cannabis firm Canopy Growth in June

** As of Friday’s close, NEPT up 68 pct this year (Reporting by Saumya Sibi Joseph in Bengaluru)

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