BUSINESS NEWS: Neptune Drops Private Placement

The effects of the recession means it's hard for companies to raise capital on affordable terms. Neptune opts to wait.

Neptune Announces Cancellation of Financing

Laval, Québec, CANADA –June 17, 2010 – Neptune Technologies & Bioressources Inc. (“Neptune”) (NASDAQ.NEPT - TSX.V.NTB) announces that, due to market conditions, it will not be proceeding with the private placement as announced in a news release dated May 4, 2010.

After being solicited by Paradigm Capital Inc. Neptune decided, while market conditions were favorable, to raise money through a brokered private placement in order to increase its treasury. However, considering current market conditions and Neptune stock performance, Neptune has decided not to proceed with the private placement.

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