MYM Closes Non-Brokered Private Placement
VANCOUVER, British Columbia - TheNewswire - June 5, 2020 - MYM Nutraceuticals Inc., (CSE:MYM) (CNSX:MYM.CN) (OTC:MYMMF) ("MYM" or the "Company") announces it has issued 1,250,000 units in non-brokered private placement at price of $0.06 per unit for gross proceeds of $75,000. There were no finders' fees payable on this tranche.
The offering was priced in the context of the market based on a price reservation made by the Company with the Canadian Securities Exchange ("CSE"). The private placement is subject to the approval of the CSE and the securities will be subject to a four-month hold period under securities laws. The Company intends to use the net proceeds from the private placement for working capital purposes.
Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $0.10 for a period of three years from the issue date. The warrants are subject to an acceleration provision that allows the Company to give notice of an earlier expiry date if the Company's share price on the Canadian Securities Exchange (or such other stock exchange the Company may be trading on) is equal or greater than $0.20 for a period of 10 consecutive trading days.
Further to the Company's press release dated June 2, 2020, the Company would like to correct its disclosure to clarify that the number of common shares of the Company issued in connection with the shares for debt transaction was 566,677 common shares at a deemed price per share of $0.08.
About MYM Nutraceuticals Inc.
MYM is a licensed cannabis producer in Canada. We are uniquely positioned to opportunistically acquire and/or invest in companies within the cannabis and hemp industries that are in need of capital and management support. Our senior management team is made up of experts engaged in a wide array of disciplines - upper level management of public companies, finance, law, master growing, plant pathology, agricultural economics, pharmaceutical, engineering, global marketing, product development and branding, distribution and seed genetics. MYM is a shareholder in two production projects in Quebec and is actively looking to acquire complementary businesses and assets in the cannabis sector. MYM shares trade in Canada, Germany and the United States under the following symbols: (CSE: MYM) (OTC: MYMMF) (FRA:0MY) (DEU:0MY) (MUN:0MY) (STU:0MY).
ON BEHALF OF THE BOARD
Robin Linden, Director
MYM Nutraceuticals Inc.
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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 forward-looking statements in this news release are made as of the date of this release. The Company disclaims and does not undertake any intention or obligation to revise or update such statements, except as required by applicable law. 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 dated October 28,, 2019 (the "MD&A") and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
Forward-looking statements may include, without limitation, statements relating to the Company's ability to acquire complementary businesses and assets in the cannabis and hemp industry or cannabis sector or to produce at its indoor facility.
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.