MYM Nutraceuticals Inc., (CSE:MYM) (OTC:MYMMF) (“MYM” or “The Company”) is pleased to announce it has closed a non-brokered private placement of 1,000,000 units at a price of CAD$0.60 per unit for gross proceeds of $600,000.
Each unit will consist of one common share and one transferable common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share for a period of 12 months following the closing of the private placement at a price of CAD$1.20 per warrant share.
The offering was priced in the context of the market based on a price reservation made by the Company with the Canadian Securities Exchange. The private placement is subject to the approval of the CSE and the securities will be subject to a four-month hold period under securities laws. The Company intends to use the net proceeds from the private placement to execute the Company’s annual marketing plan.
MYM has brought in a number of experienced, senior leaders to guide the Company through the challenges that lie ahead. In conjunction with the restructuring of senior leadership, the Company is pleased to announce a total of 1,000,000 stock options have been granted to certain employees and consultants of the Company pursuant to the Company’s stock option plan. The options have been granted on the following terms:
750,000 options have an exercise price of $0.76 and will vest in 5 equal tranches commencing on February 11, 2019. The options have an expiry date of February 11, 2022;
200,000 options have an exercise price of $0.71 and will vest in equal quarterly tranches commencing on May 26, 2019. The options have an expiry date of August 26, 2020;
50,000 options have an exercise price of $0.67 and will vest on February 21, 2019. The options have an expiry date of February 21, 2021.
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.
Keep up to date with MYM on our social media channels:
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.