MYM Nutraceuticals Inc., (CSE:MYM) (the “Company” or “MYM”) is pleased to announce the following corporate updates:
MYM Engages Michael Horsfall to Consulting Agreement
MYM shall engage the consultant for a 3-year consulting term commencing on November 23, 2017. Michael Horsfall shall provide MYM with consulting services focused on helping MYM and its partners obtain a license for and construct a medical marijuana production facility in Richmond Valley, Australia. In lieu of consulting fees, MYM shall grant 140,000 options to purchase common shares in the capital of MYM, with an exercise price of $3.37. The options shall vest in accordance with the following schedule, and expire one year after vesting:
(a) 14,000 on the 3-month anniversary of the Effective Date;
(b) 14,000 on the 6-month anniversary of the Effective Date;
(c) 14,000 on the 9-month anniversary of the Effective Date;
(d) 14,000 on the 12-month anniversary of the Effective Date;
(e) 14,000 on the 15-month anniversary of the Effective Date;
(f) 14,000 on the 18-month anniversary of the Effective Date;
(g) 14,000 on the 21-month anniversary of the Effective Date;
(h) 14,000 on the 24-month anniversary of the Effective Date;
(i) 14,000 on the 27-month anniversary of the Effective Date; and
(j) 14,000 on the 30-month anniversary of the Effective Date.
Mr. Horsfall is co-founder and CEO of PUF Ventures Australia Pty and Natures Hemp Australia Pty Ltd.
Mr. Horsfall has worked extensively as a strategic business consultant with various Australian and Internationally listed fortune 100 companies and brings over 20 years’ experience to the role. He has been responsible for successfully leading pursuit and capture teams across Government and Whole-of-Government (WOG) IT Outsourcing Contracts for both Federal and State Governments. Mr. Horsfall has founded numerous companies in the Information Technology, Consulting, Finance, Hospitality and Real Estate sectors. He brings with him an extensive network and relationships combined with an in-depth understanding of business and Government.
MYM Engages Camber Digital to Consulting Agreement
MYM shall engage the consultant for a 1-year consulting term, commencing on January 1, 2018. Camber Digital shall provide MYM with marketing, branding, graphic design, and IT services. MYM shall grant Camber Digital 60,000 options to purchase common shares in the capital of MYM, with an exercise price of $3.37. The options shall vest in accordance with the following schedule, and expire one year after vesting:
- (a) 15,000 on the 3-month anniversary of the Start Date;
(b) 15,000 on the 6-month anniversary of the Start Date;
(c) 15,000 on the 9-month anniversary of the Start Date; and
(d) 15,000 on the 12-month anniversary of the Start Date.
MYM Assigns Shares Under Debt Settlement Agreement
MYM assigns to Chrome Holdings (“Chrome”) 175,000 common shares in the capital of MYM to satisfy obligations under the Finder’s Agreement. Chrome, MYM and PUF Ventures Australia are participants in a joint venture to build a medical marijuana facility in Richmond Valley, Australia (“PUF Deal”). MYM owes a finder’s fee equal to 5% of the value of the PUF Deal. Chrome wishes to assume MYM’s obligations under the Finder’s Agreement with respect to the payment of the debt.
About MYM Nutraceuticals Inc.
MYM Nutraceuticals Inc. is an innovative company focused on acquiring Health Canada licenses to produce and sell high-end organic medicinal cannabis supplements and topical products. MYM has two production projects in Quebec that when completed will have over 1.5 million sf of production space. MYM is also a partner in a 1.2 million sf production project (Northern Rivers Project) in New South Wales, Australia. Australia is an exciting new market that has recently legalized medicinal cannabis. To ensure a strong presence and growth potential within the industry, MYM is actively looking to acquire complementary businesses and assets in the technology, nutraceuticals and CBD sectors. MYM shares trade in Canada, Germany and the USA under the following symbols: (CSE: MYM) (OTC:MYMMF) (FRA:0MY) (DEU:0MY) (MUN:0MY) (STU:0MY).
ON BEHALF OF THE BOARD
Rob Gietl, CEO
MYM Nutraceuticals Inc.
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This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The company disclaims any intention or obligation to revise or update such statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
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