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Neptune Technologies successfully completes up to $8.5 million debt financing with Desjardins Group
Date:9/8/2008


- These funds will be used to rapidly implement the first phase of the

production capacity and productivity expansion in order to meet

strongly increasing customer demand-

- No more concerns about raising additional capital now-

- The Company has decided not to proceed with the private placement of

the previously announced convertible debentures at present market

conditions-

LAVAL, Quebec, Sept. 8 /PRNewswire-FirstCall/ - Neptune Technologies & Bioressources Inc. (NASDAQ.NEPT - TSX.V.NTB) announced today that it has entered into a new financing arrangement with Desjardins Group, which will provide the Company with up to $8.5 million in financing. The Company expects the funds to used to improve productivity and increase production capacity in order to meet the currently rapidly growing demand for its products.

Of the financing, $3 million is earmarked to purchase customized equipment to optimize the extraction process and to increase productivity and production capacity with a target of reaching 120 000 kg of Neptune Krill Oil (NKO(R)) production per year, doubling current capacity. Another $3.5 million of the financing will be allocated to refinance the long term debt of the Company at a lower annual interest rate of 7.71%. This refinancing of long term debt will allow the Company to save more than 2.5% of its interest charge and improve next year's cash flow. Finally, a line of credit initially of $1 million, which can be increased to $2 million, has also been established. Investissement Quebec participated in this financing by guaranteeing up to 38% of the financing, excluding the line of credit. "Obtaining better financing conditions, particularly in the context of the current credit environment, constitutes a validation of our financial strength and of our business plan," commented Xavier Harland, Director of Finance.

"This expansion of our capacity is crucial to meeting actual a
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SOURCE NEPTUNE TECHNOLOGIES & BIORESSOURCES INC.
Copyright©2008 PR Newswire.
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