Hydro-Quebec Extends Preferential Electricity Rates for Cannabis Producers
Vancouver, B.C. / TheNewswire / January 17, 2018 – MYM Nutraceuticals Inc., (CSE: MYM) (“MYM”) is pleased to announce that Hydro-Quebec extends preferential electricity rates for cannabis producers giving them an advantage of other provinces and making Quebec a very desired place to do business.
“The producers of cannabis, whether for medical purposes or recreational, will be entitled to the tariff advantage if they use natural sunlight in their growing process,” says Marc-Antoine Pouliot, a spokesman for Hydro-Québec.
In 2013, the corporation put in place a tariff to support the greenhouse industry provided they use photosynthesis lighting. By using natural sunlight, customers using at least 400 kW of power will pay 5.53 ¢/kWh. In comparison, a residential subscriber of Hydro-Québec currently pays 5.82 ¢/kWh for the first 33 kilowatt hours billed. The following kilowatt hours climb up to 8.92 ¢/kWh per unit. This could add up to a substantial savings for MYM in its Greenhouse operations.
This decree also intended that these tariff measures promote “both the small and large greenhouse producers,” to ensure that they “will contribute to the goal of reducing greenhouse gas emissions 25 % by 2020,” and will “create new jobs in the industry of the greenhouse thus serving to support the economic development of Quebec.”
“Once built out, the preferential electricity rates allowed to our greenhouses situated in both Weedon and Laval Quebec represent millions of dollars in savings to our bottom line,” said Rob Gietl, CEO of MYM. “This savings is of great benefit to our partner communities, the environment, and our shareholders.”
MYM is also exploring other renewable sources of energy including solar and hydro power for both the 1.5 million sqft. greenhouse facility in Quebec and the 1.2 sqft. greenhouse facility in Australia.
About MYM Nutraceuticals Inc.
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. MYM has two production projects in Quebec that when completed will have over 1.5 million sf of production space. MYM is also a partner in a 1.2 million sf production project (Northern Rivers Project) in New South Wales, Australia – www.solarisnutraceuticals.com. Australia is an exciting new market that has recently legalized medicinal cannabis. 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.
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