Vancouver, B.C. / August 16, 2017 – MYM Nutraceuticals Inc., (CSE: MYM) (the “Company” or “MYM”) is pleased to announce the City of Laval, QC has approved the building permits to begin construction on the Laval project.
MYM has commenced phase one construction of the Laval production facility which is capable of producing 1000kg of medical cannabis annually. The estimated date of completion for phase one construction will be Q4 of 2017. MYM has engaged ICORE Construction, one of Quebec’s most reputable contractors, to oversee and execute the construction.
“With the approved permits, architectural drawings and security plans already in place, MYM has commenced construction of the Laval QC project”, said Rob Gietl, CEO of MYM. “We are building within our existing warehouse building which accelerates our construction timeline to approximately 90 days.”.
Phase two of the Laval project will consist of building an additional 16,000 square foot facility for the growing and manufacturing of medical cannabis products which is capable of producing 1800kg of medical cannabis annually. Phase two application permits will be ready for submission within 60 days with a construction completion date of 3rd quarter 2018.
The Company also wants to clarify some language that may have led to the conclusion that construction on MYM’s Laval production facility had not yet started. Phase One of the construction began earlier this summer with site preparation and the installation of security cameras and other non-structural items, but MYM was awaiting the granting of building permits to complete the majority of the build-out. The City of Laval has now issued those permits and MYM can complete Phase One. Together with Health Canada’s recent change in regulations that increased the authorized capacity of the facility’s vault by three times, the facility will be capable of producing 1000 kilograms of medical cannabis annually.
MYM Nutraceuticals Inc. is an innovative company focused on acquiring Health Canada licenses to produce and sell high-end organic medicinal cannabis supplements and topical products. 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
Rob Gietl, 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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