Solutions Inc (NASDAQ:NEPT) has announced towards mid-June that it secured
a multi-year deal with Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) for
extraction, development and packaging services.
The agreement between the two companies will allow Green Organic
to be the exclusive firm that will extract, formulate and package organic
products that are certified. It will also exclusively distribute the products
within Canada. Neptune has significant knowledge that will play an important
role in helping Green Organic to expand its production of a variety of consumer
Green Organic will send more over 230,000 kilograms of hemp
biomass and cannabis to Neptune for processing and transformation as part of
their multi-year agreement. Neptune will then transform the raw products into
premium organic wellness products. The deal between the two companies also
represents the biggest deal that any cannabis industry processor has ever
“With this agreement, Neptune becomes a key partner for TGOD; we have been impressed with their commitment to innovation and excellence in every aspect of their business,” stated TGOD CEO, Brian Athaide.
Neptune Wellness and Green Organic will collaborate to
achieve organic certification. Neptune will also provide a significant amount
of space that Green Organic will use for its proprietary technologies.
Jim Hamilton is no
longer Neptune Wellness’ CEO
Neptune Wellness kicked off this week with the announcement
that Jim Hamilton has resigned from his post as the company’s CEO. He has been
the company’s CEO for more than four years but despite his exit, he will still
be one of the company’s advisors, thus remaining as a part of the firm.
Following Hamilton’s exit, Neptune Wellness appointed
Michael Cammarata to take over the CEO position and the changes are effective
immediately. Cammarata knows a thing or two about running a business
considering that he founded a wellness brand called Schmidt’s Naturals. The
latter was acquired by Unilever.
Cammarata also has a strong business background aside from
being the founder of Schmidt’s Naturals. Neptune Wellness believes that those
skills will be ideal towards elevating its operations to the next level.