MYM Nutraceuticals (CSE:MYM,OTCBB:MYMMF) confirmed on Thursday (November 7) it has signed a non-binding letter of intent with Crop Infrastructure to acquire all of its issued and outstanding shares with the intention of developing a restructuring plan for the company.
As quoted in the press release:
MYM is the first and only Canadian company that offers integrated strategic, financial, management, operational and marketing services to cannabis entities that have valuable assets but require management support and capital to navigate today’s challenging landscape. The acquisition of Crop is the first of what is expected to be a series of opportunistic acquisitions and/or investments.
“The capital markets in the cannabis industry have become complex and demanding,” said Howard Steinberg, CEO of MYM. “We are looking to acquire companies with valuable core assets that are poised to benefit from the restructuring expertise our team can bring, in terms of both capital and management support. We look forward to working closely with the Crop team as we develop a financial and operational plan to enable its assets to flourish in the future.”