Neptune Technologies & Bioressources not to proceed with private placement

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.

"We have sufficient liquidity on hand, close to $3M, along with sustainable positive nutraceutical operational results, to conduct our strategic business plan in both nutraceutical and pharmaceutical segments. Moreover, business partnerships should translate into additional support for further strategic development projects. Business progressed well during the first quarter ended May 31, 2010 and we believe revenues should again exceed $4M for a second quarter in a row," stated Andre Godin, Vice-President, Administration & Finance.