June 12, 2019 / 12:32 PM / 4 months ago

BUZZ-Neptune Wellness Solutions rises on cannabis extraction deal

** U.S.-listed shares of Canada-based nutrition products firm rise 5.8% to $4.91 premarket

** Co to provide extraction, formulation and packaging services to Green Organic Dutchman Holdings Ltd

** Under terms of the deal, TGOD will supply over 230,000 kg of cannabis and hemp biomass to NEPT, which in turn will use the extracts from the raw material to make finished products

** NEPT says to manufacture, package multiple products to be sold under TGOD’s brands

** The agreement is for a three-year period with volumes expected to be back-end loaded

** Up to Tuesday’s close. NEPT stock had risen ~83% YTD (Reporting by Debroop Roy in Bengaluru)

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