SOURCE: Neptune Industries, Inc.

April 20, 2006 14:31 ET

Neptune Industries, Inc. Engages Dawson James Securities, Inc. for Private Offering and Consulting Services

BOCA RATON, FL -- (MARKET WIRE) -- April 20, 2006 --Neptune Industries, Inc. (OTC BB: NPDI), announced today that it has engaged Dawson James Securities, Inc. of Boca Raton, FL to conduct a private convertible debt offering on a best efforts basis. The 2 million dollar offering will be sold only to accredited investors, and Dawson James will be the exclusive placement agent. Dawson James has also been retained as a post-offering consultant to the Company.

Ernest D. Papadoyianis, CEO of Neptune Industries, Inc., stated, "We are delighted to commence a long-term relationship with a firm of the caliber of Dawson James. The proceeds from this offering should allow us to bring our S.A.F.E.™ technology to a market-ready stage; to develop a second production site utilizing this exciting new technology; and to complete the first phase of expansion at our Blue Heron Aqua Farms site, which should double current production and help satisfy a growing market demand for our products."

Based in Boca Raton, Florida, Neptune Industries, Inc. is developing a scalable, modular aquaculture technology called S.A.F.E.™ that successfully addresses concerns for a safe environment and for the highest quality fish at an affordable price. The company currently operates the Blue Heron Aqua Farms in Florida City, FL and is a leading producer of hybrid striped bass, which it markets internationally as Everglades Striped Bass™.

For further information, please visit the Company's website at: www.neptuneindustries.net

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Contact Information

  • Contact:

    Sal Cherch
    561-638-5974