VANCOUVER, June 5, 2018 /CNW/ - MYM Nutraceuticals Inc., (CSE: MYM.CN) (MYM.CN) ("MYM") is pleased to announce that through its partially owned subsidiaries it has finalized the purchase of 329 acres in the township of Weedon, Quebec to build its 1.5 million square foot state-of-the-art medicinal cannabis greenhouse facility.
The 329 acres of land, which is currently under construction, was purchased for $660,000. Prior to the Company purchasing the land, it served as an aggregate quarry. The existing on-site aggregate will benefit the company by saving construction costs of purchasing additional aggregate material for building needs. The second advantage of using on-site material is a lower environmental impact that will add value to the project's LEED certification process.
"Finalizing the purchase of 329 acres for the Weedon project in the Eastern Township region of Quebec is a major milestone for MYM and our stated goal of becoming one of the world's largest producers of medicinal cannabis," said Rob Gietl, CEO of MYM. "A heartfelt thank you goes out to the Municipality of Weedon and Mr. Fernand Boisvert for their cooperation with the transaction. We are proud to be a part of Weedon's bright future with the construction of a world-class greenhouse facility."
In addition to the greenhouse facility, the project will include the multipurpose CannaCentre complex that will house a museum, auditorium, learning centre, restaurant, bookstore, hotel, and cannabis research and innovation centre. These projects will both generate revenue for the Company and serve as a meeting place and sharing centre for the benefit of cannabis research and development.
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 is a shareholder in two production projects in Quebec that when completed will have over 1.5 million sf of production space. MYM is also a shareholder 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).
ON BEHALF OF THE BOARD
Rob Gietl, 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 http://www.sedar.com .
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SOURCE MYM Nutraceuticals Inc.
For further information: Investor Relations, Terry Brown, +1-855-696-2261, [email protected], Source: MYM Nutraceuticals Inc.