Mr. Howard Steinberg reports
MYM CLOSES THIRD TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
MYM Nutraceuticals Inc. has closed the third tranche of the non-brokered private placement previously announced on Jan. 14, 2020. The third tranche issued 3,333,334 units at a price of six cents per unit for gross proceeds of $200,000. There were no 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 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 CSE. 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.
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