VANCOUVER, British Columbia, April 30, 2019 /CNW/ -- MYM Nutraceuticals Inc., (CSE: MYM) (CSE: MYM.CN) (OTCBB: MYMMF) ('MYM' or 'The Company') is pleased to announce that the Company and their partner, Elite Ventures, have acquired 1.6 million seeds with CBD levels of 10%-20% from the recently built, state-of-the-art, 57,600 square foot nursery owned by CROP in Nye County, Nevada.
The newly built nursery is equipped with trays and LED lighting specially designed to enhance the growth of plant starts for the 2019 CBD farms licenced on CROP's various properties in the state. This was a key project in order to maximize yield, reduce farming risk and costs for the 2019 planting season.
The global medical cannabis market value is expected to reach a value of US$ 45.4 Billion by 2024, with a CAGR of 22.9% during 2019-2024, according to IMARC research. The firm's estimate for last year was that it would to reach US$ 13.4 Billion.
"With 1.6 million seeds purchased and being prepared to be planted, our 2019 grow season is nearly underway," said Howard Steinberg, CEO of MYM. "The Nevada project is a key component in our strategy to create a massive CBD-rich hemp footprint around the globe with the goal of becoming one of the largest cultivators and bulk CBD isolate suppliers in the world."
About MYM Nutraceuticals Inc.
MYM Nutraceuticals Inc. is an innovative company focused on the global growth of Cannabis and hemp. 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
Howard Steinberg, 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.
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SOURCE MYM Nutraceuticals Inc.