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Neptune Technologies successfully completes $2.75 million private placement with 10% management participation
Date:10/9/2008

2009 until November 30, 2010, the debentures may also be converted into Acasti Pharma units, each comprised of one Acasti Pharma common share and of one call option on the common shares of Acasti Pharma owned by Neptune. The conversion ratio of the debenture into common shares and call options increases over time, from $0.25 to $1.00 for the common shares and $0.50 to $1.50 for the call options, in order to reflect the value creation achieved through the attainment of several development and commercial milestones.

In the event that all debentures are converted into Neptune shares, the conversion of the debentures will result in the issuance of a maximum of 2,200,000 common shares of Neptune and if all warrants are exercised, it will generate at least an additional amount of $2,750,000 and also result in the issuance of 2,200,000 common shares. All securities issued pursuant to this private placement may not be transferred for a period of four (4) months following the closing of the private placement.

In addition to third-party investors, insiders also subscribed for 10% of the private placement illustrating the strong commitment of management to the growth of Neptune and Acasti Pharma.

About Acasti Pharma

Acasti Pharma's product portfolio includes proprietary novel long-chain omega-3 phospholipids sourced from sustainable abundant marine biomass including Antarctic krill (Euphausia superba). Phospholipids are the major component of cell membranes and are essential for all vital cell processes. They are one of the principal constituents of High Density Lipoprotein (good cholesterol) and play, as such, an important role in modulating cholesterol efflux. Acasti Pharma's proprietary novel phospholipids carry and functionalize the polyunsaturated omega-3 fatty acids EPA and DHA, which have been shown to have substantial health benefits, and which are stabilized by potent antioxidants. Acasti Pharma is focusing initially on the research and dev
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SOURCE NEPTUNE TECHNOLOGIES & BIORESSOURCES INC.
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