Neptune Introduces Mood Ring Cannabis Brand for Canadian Market
Mood Ring to launch in select Canadian markets this fall to meet consumer demand for high-quality, affordable and environmentally friendly cannabis products
LAVAL, QC: Neptune Wellness Solutions Inc., a diversified and fully integrated health and wellness company focused on natural, plant-based, sustainable and purpose-driven lifestyle brands, is pleased to introduce its proprietary Mood Ring cannabis brand for the Canadian market. The Mood Ring brand and product line will officially launch in select Canadian markets this fall to meet consumer demand for high-quality, affordable and environmentally friendly cannabis products.
Mood Ring leverages Neptune's decades of experience in the wellness, extraction and consumer packaged goods (CPG) industries to bring product offerings to market that are designed to meet the specific demands of Canadian consumers. Mood Ring CBD products primarily target wellness-focused consumers looking for natural products, whereas Mood Ring THC concentrates focus on the recreational market.
Mood Ring will use Neptune's proprietary cold ethanol extraction process technology to create full spectrum extracts for the Company's tincture and capsule products and newly implemented solventless extraction for THC concentrates. These processes allow Mood Ring to provide consumers with all of the cannabinoid and terpene benefits of the plant with a significantly lower environmental impact, requiring significantly less energy use when compared to CO2 extraction.
"Mood Ring is directly aligned with our strategy to move closer to the consumer and drive our growth with unique, high-quality and affordable health and wellness branded products," said Michael Cammarata, Chief Executive Officer of Neptune Wellness Solutions. "Our initial launch of Mood Ring will focus on CBD and THC products that we can immediately scale up to support the volumes required to meet demand, with future products in development. We intend to price our products to be competitive with the illicit market, which will provide legal options for legacy consumers that meet their needs and expectations, while attracting new consumers in a friendly and approachable way."
In June, Neptune received authorization by Health Canada to sell cannabis products to provinces and territories. This sales license includes edibles, extracts, and topical products. Health Canada's authorization adds to Neptune's previously held processing license and permits the Company to expand its cannabis operations to include Mood Ring and future proprietary branded products.
