MYM Nutraceuticals Inc., (CSE:MYM) (OTC:MYMMF) (“MYM” or “The Company”) is pleased to announce it has closed a non-brokered private placement as part of a series of drawdowns on the Alumina Equity Agreement of 1,200,000 units at a price of CAD$0.46 per unit for gross proceeds of $552,000.
Each unit will consist of one common share and one transferable common share purchase warrant. Each warrant will entitle the holder to purchase one Share (a “Warrant Share’) for a period of three (3) years from the issue date at a price of $0.71 per Warrant Share.
The Warrants will include an acceleration clause as follows: “The Warrants may be accelerated by the Company, at its sole option, if the volume weighted average trading price of the Shares of the Company on the Canadian Securities Exchange, or other stock exchange quotation system on which the Shares are then listed or quoted is equal to or greater than $1.42 for a period of 10 consecutive trading days, by giving notice to the holders thereof and, in such case, the Warrants will expire at 4:00 p.m. PST on the earlier of: (i) the 30th day after the date on which such notice is given by the Company in accordance with the terms of the Warrants, and (ii) the actual expiry date of the warrants.”
The Company intends to use the proceeds from the private placement for the Elite Ventures Group agreement to fund the 120 acres of CBD-rich hemp in Nevada, USA and for general and other working capital purposes.
The Company is also pleased to announce that a total of 3,205,000 incentive stock options have been granted to certain directors, officers, employees and consultants of the Company pursuant to the Company’s stock option plan. The options are
exercisable for a period of forty-two months at a price of $0.76 per common share. The options granted will vest over twelve (12) quarterly vesting periods to be fully vested after three years.
About MYM Nutraceuticals Inc.
MYM Nutraceuticals Inc. is an innovative company focused on the global growth of Cannabis and hemp. 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
Howard Steinberg, 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.
This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither the Canadian Securities Exchange (CSE or CNSX Markets), nor its Regulation Services Provider (as that term is defined in policies of the CSE), accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.