This profile is part of an investor education campaign. The profile provides detailed information which was sourced and approved by MYM Nurtraceuticals in order to help investors make better investment decisions. The Company’s support of Investing News Network ensures we can continue to bring you unbiased, independent news and information.
Resource Investing News Featured Stock
MYM Nutraceuticals Inc. (CSE:MYM) is an emerging cannabis grower and nutraceuticals manufacturing and distribution company focused on Canadian, United States and International medical marijuana markets. The company’s aggressive strategy for success is based on a commitment to superior growing technology, well-crafted branding and innovative distribution strategies.
This strategy coupled with strategic partners and sales revenue from multiple brands places MYM Nutraceuticals squarely on the path to becoming a fully-integrated cannabis company.
Through its subsidiary, Sublime Culture Inc., MYM Nutraceuticals is in the last stages of obtaining License Producer status under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR), and anticipates completing the first harvest at its Quebec-based operation by the end of 2017.
MYM Nutraceuticals is currently generating revenue through sales of its HempMed cannabidiol (CBD) nutraceutical product line, a key differentiator between the company and other late-stage ACMPR applicants. The company is well on its way to positioning itself as a leader in the CBD market in Canada and is also working to expand its reach into the United States.
High-margin CBD nutraceuticals is one of the fasted growing sectors in the medical cannabis industry and is expected to capture an early majority share of the global cannabis market. A recent Forbes magazine article estimated that the CBD market will grow to $2.1 billion market by 2020 on the back of booming consumer demand for non-psychoactive cannabis products in the treatment of a wide raged of conditions. Clinical research studies have demonstrated that CBD nutraceuticals have the potential to treat arthritis, MS, chronic pain, PTSD, depression, epilepsy and a myriad of other illnesses and disorders.
MYM Nutraceuticals’ is in active discussions related to further acquisitions of complimentary businesses and assets in the technology, nutraceuticals and CBD sectors to build a strong presence within the cannabis industry. The company is led by an experienced management team with a track record of successful startups and expertise in navigating emerging markets. The Quebec-based cannabis production team has more than 30 years of growing experience and the skills to produce high-quality cannabis products.
- Goal: Become a leading vertically-integrated provider of high-quality CBD nutraceuticals products to the growing global cannabis markets.
Market Potential: High-margin CBD nutraceuticals, one of the fasted growing sectors in the medical cannabis industry, is expected to reach $2.1 billion by 2020.
- Generating Revenue: HempMed products sales for the period between April 2017 to April 2018 expected to total in excess of $1.4 million.
- Upcoming Catalysts: License inspection phase at Quebec operation slated to begin in August 2017 with first harvest anticipated by end of 2017; phase two expansion (including extraction, R&D and product testing facility) to begin in early 2018.
- Established Medical Client Base: Access to 3,000 patients
- Strategic Partnerships: TheraCann Canada; Mohawk indigenous communities.
- Building Global Reach: Building strong brand recognition and robust network of global distribution channels.
- Garnering Financing: Raised nearly $1.4 million in financing in 1H 2017.
- Most Valuable Asset: Solid management team with more than over 40 years of medical marijuana experience that is unmatched in the industry.
Sublime Culture: Late-Stage Licensed Producer in Quebec
Sublime Culture is the production wing of MYM Nutraceuticals and is a late-stage applicant to Health Canada’s ACMPR with a 10,000-square foot grow facility located in near Montreal in the city of Laval, Quebec. Final inspection of the facility under the licensing program is slated for August 2017. The facility is expected to produce between 320,000 to 350,000 grams of cannabis flower which will provide sufficient monthly supplies for 700 to 800 patients, generating an estimated annual revenue of $3 million.
The facility has the potential to expand to a 36,000-square foot operation and MYM plans to begin the build-out in early 2018 alongside applying for an import/export license. The expansion will include a roof-top greenhouse and a state-of-the-art extraction and processing department. The company intends to produce high-quality CBD products as well as Indica and Sativa cannabis strains for its patient-clients. The completion of the facility is anticipated for late 2018 and revenues from the new facility are projected to reach $22 million by year 4 and $25 million by year 5.
Establishing the “Gold Standard” in Quality Assurance Testing of Cannabis Products
Government health agencies are tightening regulations in terms of consistency and potency in cannabis products; and prescribing healthcare specialists need assurance of the safety and efficacy of the medical cannabis products they are prescribing. Health Canada announced in February 2017 that the agency “will begin conducting random testing of medical cannabis products by licensed producers” to ensure Canadian medical cannabis consumers “are receiving safe, quality-controlled product.”
MYM Nutraceuticals is dedicated to first-in-class R&D in developing the highest quality cannabis-based nutraceuticals. The company’s planned extraction and processing department will also house a cannabis product testing and research laboratory in partnership with TheraCann Canada. Along with its ISO 17025(2005)- compliance services, TheraCann is also providing MYM with TheraCannSYSTEM software to directly capture all testing and analysis data for more streamlined regulatory compliance and preparations for future Health Canada audits.
“MYM is looking to build the industry standard in all-inclusive cannabis facilities to meet the demands of the Canadian consumer. With the anticipated start of recreational legalization coming online in the summer of 2018, MYM will be positioned to provide the safest products in the market,” said Jonathan Fiteni, Director of Operations.
HempMed Revenue Generation through CBD Nutraceutical sales
MYM Nutraceuticals’ HempMed line features custom-made cannabis products with tailored CBD chemistries to treat specific medical conditions and symptoms. Toronto-based HempMed uses proprietary technology to develop high quality and consistent hemp-based CBD extracts and oil-infused nutraceuticals. Its more than 20 products—including tinctures, concentrates and oils, edibles, vape products and pet care products (considered the ‘growth category to watch’ in 2017) — are carried by 74 retailers across Canada and are also available online. MYM Nutraceuticals is planning to launch several additional products over the next year.
As of May 2017, HempMed gross profits were up 47 percent over last year’s average and CBD sales for 2017 are now expected to exceed all previous one-year forecasts. Over the 12-month period beginning April 2017, sales are expected to total in excess of $1.4 million. MYM Nutraceuticals is funding inventory buildup and planning the construction of a large-scale production facility to increase annual sales capacity to more than $10 million. Alongside these efforts, the company is working to rebrand the entire line of HempMed products and refine the online retail strategy with a focus on worldwide expansion into major markets.
Rob Gietl— CEO
Rob Gietl is well known for his ability to exponentially grow businesses including the west-coast franchise expansion of Domino’s Pizza, where he consistently grew the annual business to achieve 300+% increases year-over-year. Mr. Gietl is a seasoned Business Development and Operations executive with a diverse track record of leading change across all areas of concept creation, brand re-positioning, market penetration, fiscal accountability and efficient execution of business plans. He has grown business effectiveness in an array of sectors and circumstances throughout Canada, consistently aligned with stakeholders’ goals and values.
Jonathan Fiteni —Director of Operations
Jonathan Fiteni has over 14 years of experience in the medical marijuana industry in general, and in product development and construction of marijuana facilities in particular. Mr. Fiteni is very educated and experienced in producing medical quality marijuana strains from seed to patient. He has designed and managed the building of numerous high-density growing facilities, requiring stringent construction standards. Using hydroponics and other sophisticated growing methods, he has successfully integrated complex electrical, dehumidification, HVAC and irrigation systems together to produce high quality organic marijuana products.
Erick Factor—Executive Chairman
Erick Factor is a well-known expert in the MMJ industry and has 20 years of experience in cultivating medical marijuana and manufacturing cannabis by-products, and has provided medical marijuana to thousands of patients over the past two decades. He has extensive experience working with Health Canada, from whom he has obtained MMAR and MMPR licenses for hundreds of patients, and has managed and operated grow facilities to produce for those patients. Mr. Factor has also gained invaluable experience over the past three years in ACMPR licensing regulations and applications.
Ian Ramage —Director
Ian Ramage holds a B.A.Sc. in Computer Engineering from Simon Fraser University and J.D. and LL.M. degrees from the University of British Columbia. He practiced law in the Bay Area for eight years for a variety of biotech and high-tech clients before returning to Vancouver in 2009 to continue to build his corporate and securities practice. Mr. Ramage is an expert in Canadian and U.S securities and corporate law; copyright and trademark acquisition and enforcement; patent, copyright, and trade secret litigation.
Mark Forster —Chief Financial Officer
Mark Forster will be responsible for the preparation of financial statements, continuing disclosure of the Resulting Issuer and the management of internal control procedures. He has over 25 years of financial accounting experience in banking, manufacturing of beer, wine, and spirits, the oil and gas industry and in the mining sector. He has been a director and the CFO of Teletouch Services Inc., a private technology company, since December 2004. He was a manager of Bearingpoint LLP, a management and technology company, from January 1996 to December 2006. Mark G. Forster was granted a CGA designation by the Certified General Accountant’s Association, BC in 1992.