16:23:05 EDT Fri 03 Apr 2020
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MYM Nutraceuticals Inc
Symbol MYM
Shares Issued 151,641,062
Close 2020-01-28 C$ 0.075
Recent Sedar Documents

MYM Nutraceuticals closes $221,005 tranche of placement

2020-01-29 02:08 ET - News Release

Mr. Howard Steinberg reports


MYM Nutraceuticals Inc. has closed the second tranche of the non-brokered private placement previously announced on Jan. 14, 2020. The second tranche issued 3,683,416 units at a price of six cents per unit for gross proceeds of $221,005. There were $2,664 in finders' fees payable on this tranche.

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 10 cents 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 weighted-average share price on the Canadian Securities Exchange (or such other stock exchange the company may be trading on) is equal to or greater than 20 cents for a period of 10 consecutive trading days.

The offering was priced in the context of the market based on a price reservation made by the company with the Canadian Securities Exchange. 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.

About MYM Nutraceuticals Inc.

MYM is 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. Its 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.

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