VANCOUVER, Aug. 23, 2018 /CNW/ - MYM Nutraceuticals Inc., (CSE: MYM) (MYM.CN) (OTC: MYMMF) (the "Company" or "MYM") is pleased to announce the appointment of Mr. Frank Klees to the Advisory Board of the Company. Mr. Frank Klees will serve as an advisor to the Company as part of the Company's stated mission to pursue, build and develop all cannabis related opportunities in the province of Ontario.
"I am looking forward to working with the MYM Nutraceutical team as they position the company to participate in the opportunity presented by Ontario's announcement that once legalized, cannabis products will be distributed through a private sector retail network," said Klees. "Of paramount importance to the success of that business model is ensuring that participating companies have the experience and the integrity to ensure that the highest standards of quality assurance are met."
Mr. Klees's extensive experience and track record in government and the private sector makes him an ideal strategic advisor to the Company at this stage of its development. Mr. Klees served five terms as a Progressive Conservative Member of the Legislative Assembly of Ontario from 1995 to 2014. He served in various senior positions including Minister of Transportation, Minister of Tourism, Chief Government Whip, Deputy House Leader, Vice Chair of the Select Committee on the Proposed Transaction of the TMX Group and the London Stock Exchange Group. Over the course of 19 years as an elected politician, Mr. Klees established strong and trusted working relationships with all levels of government.
Mr. Klees has extensive business experience in the energy sector, financial services and real estate development. He was a co-founder and Executive Vice President of Municipal Gas Corporation, served as Corporate Director and Member of the Audit and Governance Committees of Universal Energy Ltd. and has been a member of the Supervisory Board of Rockwool North America since 2003. Mr. Klees is a Senior Advisor to numerous public and private enterprises and provides business development, government relations and strategic planning advisory services.
"We are excited to welcome Mr. Klees to the Company's advisory board," said Rob Gietl, CEO of MYM. "His decades of navigating the political landscape in Ontario will be of great value to MYM shareholders when it comes to doing business with the various levels of government in that province. In the coming years, the cannabis business in Canada will be rife with competition, having Mr. Klees join us at this early stage will ensure that MYM will be competitive in Canada's most populous province."
Subject to compliance with all applicable laws and the rules of the Canadian Securities Exchange, MYM will grant to Klees 500,000 options to purchase MYM common shares. The Stock Options will have an exercise price of $1.25 and expire on August 17, 2020. They will vest as follows: 250,000 of the Stock Options will vest immediately with the remaining 250,000 Stock Options vesting quarterly beginning October 1, 2018.
About MYM Nutraceuticals Inc.
MYM Nutraceuticals Inc. is an innovative company focused on acquiring Health Canada licenses to produce and sell high-end medicinal cannabis supplements and topical products. MYM is a shareholder in two production projects in Quebec that are anticipated to have over 1.5 million square feet of production space. MYM is also a shareholder in two additional cannabis production projects in Australia and Colombia. The "Northern Rivers Project" in New South Wales, Australia is expected to have 1.2 million square feet of cannabis production space. In Colombia, MYM partner, Colombia Organica, currently hold a seed to sale license for low THC cannabis and are in the licensing process for the cultivation and production of high THC cannabis extracts. Plans are underway for MYM and Colombia Organica to build a cannabis production facility in the region. 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).
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.
ON BEHALF OF THE BOARD
Rob Gietl, CEO
MYM Nutraceuticals Inc.
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For further information: Investor Relations: Terry Brown, +1-855-696-2261, [email protected]