Neptune announces completion of strategic review and unveils comprehensive action plan

Action plan to deliver over $10 million usd ($12.5 million cad) in annual savings management to immediately focus on increasing value of core operations: sprout foods, biodroga, & cannabis management expects positive cannabis contribution in q2'23, accelerating original timeline due to strong sales growth to-date management to provide more detail during the company's fiscal second quarter 2021 financial results conference call on november 15 laval, qc, nov. 15, 2021 /prnewswire/ - neptune wellness solutions inc. ("neptune" or the "company") (nasdaq: nept) (tsx: nept), a diversified and fully integrated health and wellness company focused on plant-based, sustainable and purpose-driven lifestyle brands, today announced that, following the company's establishment of a strategic review committee in august of calendar year 2021, the board of directors has approved a comprehensive action plan presented by neptune's management team to unlock shareholder value. the action plan includes short-term and long-term cost-cutting initiatives and the immediate reorganization of neptune's operations and resources, which are estimated to generate annual cost savings of over $10 million usd ($12.5 million cad) and streamline operations.
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