VANCOUVER, British Columbia - TheNewswire - July 11, 2019 - MYM Nutraceuticals Inc., (CNSX:MYM) (OTCBB:MYMMF) ("MYM" or the "Company") is pleased to announce that its joint venture company (MYM owns 50%), BioHemp Naturals Growing & Farming Ltd. ("BioHemp"), has signed a purchase agreement for 163,000 lbs, of an estimated 675,000 lbs, of CBD-rich hemp biomass currently being grown at the Saskatchewan project.
Under the terms of the agreement, the biomass is to be delivered in multiple shipments from the 2019 harvest with final delivery no later than Dec. 31, 2019. A deposit of $650,000 CAD has been received with all remaining payments to be made at the time of delivery.
"We are delighted BioHemp has completed its first sale of CBD-rich hemp biomass that is currently being cultivated at the Saskatchewan project", said Howard Steinberg, CEO of MYM. "We are currently in discussions to sell the balance of the estimated 500,000 lbs of biomass with the hopes that it will all be sold by the end of July."
About MYM Nutraceuticals Inc.
MYM Nutraceuticals Inc. is an innovative company focused on the global growth of Cannabis and CBD-rich hemp. 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
Howard Steinberg, CEO
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 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.
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.
Forward-looking statements may include, without limitation, statements relating to the estimated production is 675,000 lbs of biomass, the expected CBD content of the hemp flower and MYM's ability to enter into further purchase agreements or MYM's acquisition of complementary businesses and assets in the technology, nutraceuticals and CBD sectors.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law and may not be offered or sold in the "United States", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.