Received by email:
File: #6_052516_SaleOfProperty.doc
NEWS RELEASE
For Immediate Release
MYM Announces Sale of Property
Vancouver, B.C., May 24th, 2016 - MYM Nutraceuticals Inc., (CSE: MYM) (the "Company" or "MYM") has completed the sale
--->of the Maple Ridge property located off Lougheed Highway. The sale of the property was part of management's plan in 2
--->015 to free up considerable capital that would allow the company to continue forward with its plans for 2016. Part of
---> this plan was also finding a suitable buyer who will lease back the land to the company so that it may continue with
--->its application and development plans for the property. The Company is in discussions with the buyer to enter into a
--->lease agreement. The property sold for $790,000, with the proceeds from the sale being used to pay down loans and int
--->erest and provide working capital for the Company. It is the intent of the Company to use some of the proceeds to sup
--->port its Oraville property and provide funds necessary to begin building its processing facilities which will become a
---> new revenue stream for the company.
Jonathan Fiteni, CEO of MYM commented that, "Selling the land was the next step in our plan for continued growth in th
--->is very complex and competitive market place. It took some time as it required a very specific buyer. It was a win
--->win for the team as it provided some much needed operation capital without delaying our application process. We can n
--->ow move forward with our plans to invest in some new processing technology that will bring in a new and very profitabl
--->e revenue stream"
About MYM.
MYM Nutraceuticals Inc., (MYM) is a public company trading on the Canadian Stock Exchange, (CSX), who's primary focus,
---> is developing high-end organic medicinal supplements and Hemp Topical products with an interest in the development of
---> high density farming facilities and technologies.
MYM has identified the potential market of providing turn-key facilities which derive revenue from land and equipment
--->lease fee's while also providing consulting services to its tenants of high density grow operations. Further to this
--->business model is the potential for manufacturing facilities for tenants who would specialize in the area of Organic h
--->erb and Hemp based products. Through it's wholly owned subsidiary the objective is to be a leader in land development
--->servicing the new age farming entrepreneur in Canada and abroad.
The Company will continue its' pursuit in obtaining a MMPR license with Health Canada. Further information about MYM i
--->s available under its profile on the SEDAR website www.sedar.com and on the CSE website www.thecse.ca.
For further information on MYMplease contact:
MYM Investor Relations Department
Tel: 604-256-6739
ON BEHALF OF THE BOARD
"Jonathan Fiteni"
CEO
This news release may contain forward-looking statements including but not limited to comments regarding market inform
--->ation and timing of planned projects, etc. Forward-looking statements address future events and conditions and therefo
--->re, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in
---> such statements.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents
--->of this press release.
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