Vancouver, B.C., July 27, 2017 – MYM Nutraceuticals Inc., (CSE: MYM) (the “Company” or “MYM”) is extremely pleased to announce that Health Canada has introduced new regulations that will allow for a substantial increase in production at the Laval location vault size. The new regulations will increase the authorized capacity of the vault size from 320kg to 1000kg of dried cannabis. At full capacity, the increase in vault size represents an additional $3,400,000 in gross revenue.
The new regulations enable MYM to manage the production of cannabis products based on the capacity and security of the vault. Secondly, low-value cannabis waste products will not be included in the maximum authorized storage capacity. This will create additional storage space in the secure vault for finished cannabis products.
Under the new regulations, MYM will no longer have to wait for Health Canada to conduct a pre-license inspection to begin cultivation. MYM will now be required to demonstrate that the location is in good working order. Health Canada will follow up with inspections during the cultivation of cannabis.
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 the 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.