MYM Nutraceuticals Inc. (CSE:MYM) (the “Company” or “MYM”) is pleased to provide the following update on its, currently under construction, 1.5 million sq. ft. cannabis greenhouse production facility, located in Weedon, Quebec.
A significant portion of the property is currently cleared and de-stumped. There is now ample land to construct the first phase of greenhouses. The project has accepted delivery of the first 30,000 sq. ft. of greenhouse structure and equipment and will begin construction immediately. Phase one of the greenhouse construction is estimated to be completed in September. The equipment and control systems are scheduled to be installed in October. Following this, the virtual tour and evidence package video will be completed and delivered to Health Canada in Q4 2018.
Clearing of the land for phase two will occur concurrent with the construction of the first phase of greenhouses. The foundations and anchor points will be in place by the end of 2018. The estimated date for the project build-out is Q4 of 2019, with full production of the 1.5 million sq. ft. greenhouse facility estimated to be underway in Q2 of 2020
Hydro Quebec’s pre-engineering and planning process is in motion on the property. Their next step is to send procurement needs for the implementation of power to the greenhouse project. There is now a clear plan for delivery of the necessary power required for the site.
Environment Quebec is currently processing the project’s Certificate of Authorization that allows construction to take place within the close-proximity of the property’s protected wetlands. The project will continue to make every effort to ensure its building practices support environmental sustainability.
The Company has recently partnered with three different institutions in the area to both widen community ties and provide an educational aspect to the project:
MYM’s partnership with the University of Sherbrooke will focus on the medicinal and industrial uses of cannabis and hemp. Researchers at the University of Sherbrooke will work with an on-site coordinator to create partnerships by targeting expertise in various faculties and training centres.
The partnership agreement with Sherbrooke College (CEGEP) will see the development of a training program for the project’s employees assigned to the production of cannabis. The educational curriculum will be expanded and offered as a diploma (AEC) program as part of the Sherbrooke College (CEGEP) course offerings.
Lastly, MYM’s partnership with the Sherbrooke Historical Society will create the concept for the CannaCentre museum, which is expected to be built at the Company’s planned 1.5 million sq. ft. cannabis production facility in Weedon, Quebec. The facility will integrate research and development, academia, tourism, and community initiatives.
Please visit http://www.mym.ca/weedon-quebec/ or follow us on social media for updated photos of the project. Check back often as we’ll be posting new photos on a regular basis.
About MYM Nutraceuticals Inc.
MYM Nutraceuticals Inc. is an innovative company focused on acquiring Health Canada licenses to produce and sell high-end medicinal cannabis supplements and topical products. MYM is a shareholder in two production projects in Quebec that are anticipated to have over 1.5 million square feet of production space. MYM is also a shareholder in two additional cannabis production projects in Australia and Colombia. The “Northern Rivers Project” in New South Wales, Australia is expected to have 1.2 million square feet of cannabis production space. In Colombia, MYM partner, Colombia Organica, currently hold a seed to sale license for low THC cannabis and are in the licensing process for the cultivation and production of high THC cannabis extracts. Plans are underway for MYM and Colombia Organica to build a cannabis production facility in the region. 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).
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.
On Behalf of the board:
Rob Gietl, CEO
MYM Nutraceuticals Inc.
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