VANCOUVER, British Columbia, Dec. 29, 2017 /CNW/ -- MYM Nutraceuticals Inc., (CSE: MYM) (OTC: MYMMF) (the "Company" or "MYM") announces the adoption of an automatic securities disposition plan ("ASDP"). Canadian legislation permits an insider to adopt a written ASDP to sell shares through an independent broker in accordance with a pre-arranged set of instructions, regardless of any subsequent material non-public information the insider may receive, as long as the ASDP satisfies certain requirements. In accordance with Canadian legislation, sales of shares under the ASDP will be effected by independent securities brokers in accordance with the trading parameters and other instructions set out in the ASDP.
MYM insiders will not exercise any discretion or influence over how dispositions will occur under the ASDP, and the broker administering the ASDP is not permitted to consult with MYM insiders regarding any such dispositions. In addition, insiders are subject to restrictions on their ability to modify, suspend or terminate their participation in the ASDP.
The objective of the ASDP is to facilitate the sale of common shares of MYM currently held by insiders on the open market over a period of up to two years at prevailing market prices. The ASDP will allow those MYM insiders to sell their shares in order to further diversify their respective portfolios.
Transactions under the ASDP will be reported on SEDI at www.sedi.ca in accordance with applicable Canadian securities laws. Each such filing will bear a notation to advise readers that the dispositions relate to an ASDP.
Upon entering the ASDP, MYM recognizes that insiders may have reasons unrelated to their assessment of the Company or its prospects in deciding to sell shares of the Company.
Insiders of the MYM that participate in the ASDP will disclose the establishment of an ASDP in insider reports filed in accordance with applicable securities laws and MYM may from time to time disclose the adoption of such plans in the future.
The ASDP trading plan is as follows:
Rob Gietl – 25,000 shares per month for 24 months
Erick Factor – 40,000 shares per month for 24 months
Ian Ramage – 10,000 shares per month for 24 months
Mark Forster – 40,000 shares per month for 24 months
Robin Linden – 1500 shares per months for 24 months
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. 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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This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The company disclaims any intention or obligation to revise or update such statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither the Canadian Securities Exchange (CSE or CNSX Markets), nor its Regulation Services Provider (as that term is defined in policies of the CSE), accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law and may not be offered or sold in the "United States", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.
SOURCE MYM Nutraceuticals Inc.