Mr. Howard Steinberg reports
MYM ANNOUNCES SHARES FOR DEBT TRANSACTION
MYM Nutraceuticals Inc. has agreed to a shares-for-debt transaction whereby the company issued 498,018 common shares of the company at a deemed price of 10.5 cents per share pursuant to certain employment and consulting agreements
that contain provisions for the issuance of shares as part of the compensation.
shares issued in connection with the
subject to a minimum four-month hold period as required by Canadian securities laws.
is subject to approval of the Canadian Securities Exchange.
As certain insiders participated in the transaction, it is considered to be a related-party transaction as defined under Multilateral Instrument 61-101. The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the securities to be distributed in the transaction insofar as the transaction involves the insiders does not exceed 25 per cent of the company's market capitalization.
About MYM Nutraceuticals Inc.
MYM, through its subsidiary, Sublime Culture, is a cutting-edge Canadian licensed producer of high-quality craft cannabis. The company 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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