VANCOUVER, British Columbia, Dec. 4, 2017 /CNW/ -- MYM Nutraceuticals Inc., (CSE: MYM) (OTC: MYMMF) (the "Company" or "MYM") is pleased to announce that PUF Ventures Australia (PVA) has filed an application with the Australian Office of Drug Control for a medicinal cannabis license and a cannabis research license in collaboration with The National Institute of Complementary Medicine (NICM), an Australian Health Research Institute based at Western Sydney University in New South Wales, Australia.
PVA aims to conduct medical research with NICM's academic input at its proposed Northern Rivers Project, a 1.2 million sf cannabis cultivation greenhouse, extraction plant, 10,000 sf laboratory, training center and research facility in New South Wales, Australia.
The Northern Rivers Project is working with experts in Australia, Europe, and Canada to support the application with the Australian government. Upon approval, the license will further scientific and medical research in the field of medicinal cannabis. PVA is presently in discussions with NICM on a range of potential projects including women's health disorders, multiple sclerosis, immune disorders, and the optimization of cannabis constituent profiles.
"NICM is a world-class research institute, and this collaboration will allow for access to our planned state-of-the-art labs and greenhouse facilities. NICM will provide their independent academic expertise to contribute to PVA's research agenda. This is a significant step forward to allow PVA to focus on its mandate to develop innovative medicinal products," said Michael Horsfall, CEO of PVA.
Professor Jerome Sarris, NICM Deputy Director sees tremendous mutual value in this evolving research relationship. "As an institute specializing in medicinal plant research, to collaborate with an organization such as PVA, with a grand and inspiring vision, holds significant medical potential," said Professor Sarris.
"There is a growing appetite globally for 'clean-green', high-quality medicinal plants. Specifically, medicinal cannabis presents with immense health opportunities. NICM engages in selective research collaborations with medicinal cannabis, and the Northern Rivers Project is a significant development in the field which we are proud to be involved with."
MYM Nutraceuticals (CSE: MYM) and PUF Ventures Inc. (CSE: PUF) are partners in the Northern Rivers Project.
Western Sydney University's NICM is Australia's leader in integrative and complementary medicine research and policy. Seed funded by the Commonwealth and NSW State Governments, NICM plays a key national role in ensuring Australians have access to reliable evidence on complementary medicines and treatments in wide use. As an ERA 5 ranking institute, NICM is globally recognized for its world-class research and innovations in integrative and complementary medicine.
More information is available at www.nicm.edu.au.
About Northern Rivers Project
The Northern Rivers Project is a joint venture between PUF Ventures, PUF Ventures Australia, and MYM Nutraceutical, to build a 1.2 million square foot greenhouse operation on a 27-hectare parcel of land near the town of Casino in northern New South Wales, Australia. The operation when complete will include large-scale greenhouse, manufacturing, processing and office facilities for the cultivation, production and manufacture of medical cannabis and associated products in Australia. The first phase of the project will cover approximately 300,000 square feet, which will be the largest medical cannabis greenhouse in Australia. Based on current construction timelines, permitting and various Australian approvals, the first crop is expected to be planted in the fourth quarter of 2018.
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).
About PUF Ventures Inc.
PUF Ventures Inc. (CSE: PUF) (Frankfurt: PU3) (OTCPK: PUFXF), owns a majority interest in AAA Heidelberg Inc., a private Ontario company that is an advanced applicant for an ACMPR license from Health Canada. The Company has an option to acquire the balance of shares to own 100% of AAA Heidelberg Inc. upon receipt of the ACMPR license. Through a supply agreement with Canopy Growth Corp., the Company has joined CraftGrow, a collection of high-quality cannabis grown by a select and diverse set of producers, made available to the Canadian market through the Tweed Main Street website.
ON BEHALF OF THE BOARD
MYM Nutraceuticals Inc.
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