Vancouver, British Columbia - TheNewswire - August 31, 2020 - MYM Nutraceuticals Inc. (CSE:MYM) (CNSX:MYM.CN) (OTC:MYMMF) ("MYM" or the "Company") announces that the Company has agreed a shares for debt transaction whereby the Company issued 668,760 common shares of the Company ("Shares") at a deemed price of $0.06 per Share pursuant to certain employment and consulting agreements that contain provisions for the issuance of Shares as part of the compensation (the "Transaction").
All Shares issued in connection with the Transaction are subject to a minimum four-month hold period as required by Canadian securities laws. The Transaction is subject to approval of the Canadian Securities Exchange (the "CSE").
As certain insiders participated in the Transaction, it is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities to be distributed in the Transaction in so far as the Transaction involves the insiders, exceeds 25% of the Company's market capitalization.
The Company is also pleased to announce that Mark Forster has been reappointed as Chief Financial Officer of the Company. Mr. Forster is a CPA-CGA registered in BC and has over 30 years of public business experience in the banking and consumer industrial markets sectors.
About MYM Nutraceuticals Inc.
MYM is a licensed cannabis producer in Canada uniquely positioned to opportunistically acquire and/or invest in companies within the cannabis industry 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, able to manage all aspects of licensed cannabis production and sales. MYM wholly owns two cannabis cultivation facilities - SublimeCulture Inc in Laval, QC and Highland Grow in Antigonish, NS. The Company 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 MYM BOARD
Michael Wiener, CEO
MYM Nutraceuticals Inc.
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