VANCOUVER, Oct. 23, 2017 /CNW/ - MYM Nutraceuticals Inc., (CSE: MYM) (the "Company" or "MYM") is pleased to announce it has closed the first tranche of its non-brokered private placement of 5,709,000 units at a price of $0.50 per unit for gross proceeds of $2,854,500.
Each unit in the private placement is comprised of one common share and one transferable share purchase warrant with each warrant exercisable into one additional common share at a price of $1.00 for a period of one year. The securities will be subject to a four month and one day hold period under securities laws.
Finder's fees totalling $102,570.83 were paid on the financing.
Insiders purchased 566,250 units in the first tranche of the private placement.
The Company intends to use the net proceeds from the private placement for general working capital and corporate purposes.
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. 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.
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 http://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.
For further information: Investor Relations, Terry Brown, +1-855-696-2216