Vancouver, B.C., May 9, 2017 – MYM Nutraceuticals Inc. (CSE:MYM) (OTC:MYMMF), is pleased to release our first months report on the recent acquisition of the HempMed brand. Within 30 days of restructuring and assisting in the rebuilding of the division, we are pleased to report that sales have increased by more than 35% from last quarters average and retailers carrying HempMed have increased 24% to 74 retailers.
Online sales have increased over 33% and expecting to grow exponentially with a newly implemented sales operation targeted specifically for online markets. HempMed produced gross profits of 47% over last years average and CBD sales are now expected to exceed all previous one year forecasts. Expo sales and marketing hit new records with the two shows in Edmonton and Toronto, with several more scheduled for May.
Prior to the acquisition HempMed was held back by cash restraints and consistently could not keep up with demand. MYM has committed additional funds to build warehouse inventory to meet the ever-growing demand for HempMed. Since the acquisition, MYM has built up the inventory levels to over $500,000 to meet current demand and is expecting to further the inventory buildup with an additional space in Vancouver to compliment the Toronto Operation.
MYM is expecting this impressive growth to only increase as new marketing and sales strategies are fully implemented. MYM is positioning itself to be the leader in the CBD market in Canada and is already working on USA expansion.
MYM is continuing to negotiate acquisitions of complimentary businesses and assets in the technology, nutraceuticals and CBD sector and is currently in talks with other innovative companies, to ensure a strong presence and growth potential within the industry.
MYM Nutraceuticals Inc. (CSE:MYM)(OTC:MYMMF)(FRA:OMY) is a public company trading on the Canadian Stock Exchange whose primary focus is developing high-end organic medicinal marijuana supplements and topical products. MYM also has an interest in the development of high-density farming facilities and technologies that allow MYM to expand its brand into the global market.
ON BEHALF OF THE BOARD
Rob Geitl, CEO
MYM Nutraceuticals Inc.
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.
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