MYM Closes Third Tranche of Non-Brokered Private Placement

Cannabis Investing News
CSE:MYM

MYM Nutraceuticals Inc., (CSE:MYM, OTCBB:MYMMF) (“MYM” or “The Company”) announces it has closed the third tranche of its non-brokered private placement, previously announced on July 5, 2019, of 3,602,234 units at a price of $0.324 for gross proceeds of $1,167,124.

MYM Nutraceuticals Inc., (CSE:MYM, OTCBB:MYMMF) (“MYM” or “The Company”) announces it has closed the third tranche of its non-brokered private placement, previously announced on July 5, 2019, of 3,602,234 units at a price of $0.324 for gross proceeds of $1,167,124.

“Since we started our fundraising process on June 11, we’re very pleased to announce we’ve raised over $8.5 million,” said Howard Steinberg, CEO of MYM. “Our ability to raise capital during this difficult fundraising period for the cannabis sector is a solid vote of confidence from our investors and a reflection of the incredible team with have in place.”

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 fund the strategic plan through 2020.

Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $0.50 for a period of three years from the issue date. The warrants are subject to an acceleration provision that allows the Company to give notice of an earlier expiry date if the Company’s share price on the Canadian Securities Exchange (or such other stock exchange the Company may be trading on) is equal or greater than $1.00 for a period of 10 consecutive trading days.

Insiders subscribed to 284,828 units for gross proceeds of $92,284.  As a result, the Private Placement is considered to be a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to or the consideration paid by such persons exceeded 25% of the Company’s market capitalization. Finder’s fees of $13,048.40 were paid on this tranche.

About MYM Nutraceuticals Inc.

MYM Nutraceuticals Inc. is an innovative company focused on the global growth of Cannabis and CBD-rich 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.
www.mym.ca

Keep up to date with MYM on our social media channels:

Twitter: @mymnutra
Facebook: @mymnutra
Instagram: @mymnutra

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 forward-looking statements in this news release are made as of the date of this release. The Company disclaims and does not undertake any intention or obligation to revise or update such statements, except as required by applicable law. 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 dated April 24, 2019 (the “MD&A”) and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.

Forward-looking statements may include, without limitation, statements relating to the Company’s ability to expand cultivation and distribution initiatives fo cannabis and hemp globally or the acquisition of complementary businesses and assets in the technology, nutraceuticals and CBD sectors.

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.

Click here to connect with MYM Nutraceuticals Inc. (CSE:MYM) for an Investor Presentation.

Source: www.prnewswire.com

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