Vancouver, B.C., February 9, 2017 – MYM Nutraceuticals Inc., (CSE: MYM) (the “Company” or “MYM”) is pleased to announce it has closed its non-brokered private placement of 8,100,000 units at a price of $0.05 per unit for gross proceeds of $405,000.
Each unit in the private placement is comprised of one common share and one non-transferable share purchase warrant with each warrant exercisable into one additional common share at a price of $0.07 for a period of two years and the securities will be subject to a four month and one day hold period under securities laws.
No Finder’s Fees were paid on the financing.
The Company intends to use the net proceeds from the private placement for general working capital and corporate purposes.
MYM Nutraceuticals Inc. (CSE: MYM) 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.
MYM has identified the potential market in providing extraction and processing services to large and independent ACMPR farming operations looking to produce high quality plant extracts using top quality C02 extraction equipment and customized formulations. Further to this business model is the ability to provide these services on-site via mobile convoy.
ON BEHALF OF THE BOARD
CEO and Director
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.