VANCOUVER, British Columbia, Aug. 8, 2019 /CNW/ -- MYM Nutraceuticals Inc., (CSE: MYM.CN) (CSE: MYM) (OTCBB: MYMMF) ("MYM Nutraceuticals" or the "Company") is pleased to announce that it has expanded the scope of its global offices to include distribution and sales of the newly formed MYM International Brands Inc. MYM recently incorporated MYM International Brands Inc. to focus on the growing global demand for CBD-rich consumer products.
MYM currently has three global offices covering the territories of: Europe, Asia Pacific, and Latin America, focusing on the sale of bulk CBD-rich isolate. They now will be adding MYM International Brands Inc. products to their sales and distribution portfolio.
European office – CBD consumer products are legal in most of Europe. In their recent report, Brightfield Group, a leading market intelligence firm for the legal CBD and cannabis industries, estimates that the European CBD market will boom over the next four years. The market was estimated at $318 million in 2018 and is expected to grow over 400 percent through 2023.
Asia Pacific office - By 2024, the CBD market in China alone is forecasted to be worth US $15 billion, according to Hong Kong-based investment company Regent Pacific Group, citing the beauty and wellness sector as the main driver.
Latin America office - Central and South America have all the key ingredients for CBD growth: land for production, increasingly relaxed laws for trade, people for creation and consumption, and most importantly, political will. MyCBD.org reports legal sales in Latin America are expected to grow from $125 million in 2018 to more than $776 million by 2027.
"We are excited to bring International Brands to the MYM global offices around the world", said Erick Factor, CEO of MYM International Brands. "We are well on our way to launching lines of unique brands for both humans and pets in a variety of global markets. The demand for CBD-rich consumer products allows our team to create products for a wide variety of categories including food and beverage, pharmaceuticals, cosmetics, and health and wellness".
About MYM Nutraceuticals Inc.
MYM Nutraceuticals Inc. is an innovative company focused on the global growth of Cannabis and CBD-rich 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 United States 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 forward-looking statements in this news release are made as of the date of this release. The Company disclaims and does not undertake any intention or obligation to revise or update such statements, except as required by applicable law. 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 dated April 24, 2019 (the "MD&A") and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
Forward-looking statements may include, without limitation, statements relating to, but not limited to, the estimated market size for CBD rich products in Europe, Asia-Pacific and Latin America, the Company's or its subsidiary's ability to manufacture, distribute or launch CBD products and brands in global markets or in a variety of categories, the ability to expand cultivation and distribution initiatives for cannabis and hemp globally or the acquisition of complementary businesses and assets in the technology, nutraceuticals and CBD sectors; the expected demand for CBD-rich products.
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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.