VANCOUVER, British Columbia, Dec. 5, 2019 /CNW/ -- MYM Nutraceuticals Inc., (CSE: MYM) (CSE: MYM.CN) (OTCBB: MYMMF) ("MYM" or the "Company") is pleased to announce it has paid back the Trichome loan in full, is now completely debt-free, and maintains a healthy cash-positive bank balance.
Although the Trichome loan has been fully paid and there are no further obligations from MYM to Trichome with respect to the loan, Trichome remains supportive of the Company exploring potential acquisitions in the future. As such, the Company will continue its exploration to find great value, given current market conditions, and looks forward to working with Trichome on future projects.
"We are committed to our strategy of focused opportunistic acquisition. We remain debt-free with the ability to potentially access additional capital should the right opportunity present itself," said Howard Steinberg, CEO of MYM. "With the increasingly complex capital market environment in the cannabis industry, we believe there are companies with valuable core assets that are poised to benefit from the restructuring expertise our team can bring, in terms of both capital and management support."
"While we are pleased to have been repaid on our loan, we remain supportive of MYM as they pursue strategic options that may arise," said Michael Ruscetta, Trichome Financials' Chief Executive Officer.
In addition to the above, the BioHemp rescission is now complete. The transaction, by court order, has been rescinded and therefore treated as if it never occurred.
About MYM Nutraceuticals Inc.
MYM is uniquely positioned to opportunistically acquire and/or invest in companies within the cannabis and hemp industries that are in need of capital and management support. Our senior management team is made up of experts engaged in a wide array of disciplines – upper level management of public companies, finance, law, master growing, plant pathology, agricultural economics, pharmaceutical, engineering, global marketing, product development and branding, distribution and seed genetics. MYM is a shareholder in two production projects in Quebec and is actively looking to acquire complementary businesses and assets in the cannabis sector. 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 October 28,, 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 the Company's ability to acquire complementary businesses and assets in the cannabis and hemp industry or cannabis sector.
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.