Shares of Quebec-based Neptune Wellness Solutions (NEPT – Get Report) gained on Wednesday after the pot extraction and purification company said it has struck a deal to with cannabis company Green Organic Dutchman Holdings (TGODF) .
Under terms of the deal, Green Organic will supply more than 230,000 kilograms of cannabis and hemp biomass to Neptune, which will extract and purify cannabinoids and terpenes, to be transformed into organic finished products.
Shares of Neptune were up 3.38% to $4.82 in morning trading on the Nasdaq Stock Market. The company’s stock has jumped more than 40% over the past three months.
Green Organic Dutchman shares rose more than 2% in over-the-counter trading to $2.61. Tilray stock was down just over 1% to $40.07.
Neptune Wellness Solutions Inc. shares were trading at $4.76 per share on Wednesday afternoon, up $0.12 (+2.59%). Year-to-date, Neptune Wellness Solutions Inc. - Ordinary Shares (NEPT - Get Rating) has declined %, versus a 15.88% rise in the benchmark S&P 500 index during the same period.
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