VANCOUVER, British Columbia, Nov. 09, 2017 /CNW/ -- MYM Nutraceuticals Inc. (CSE: MYM) (CSE: MYM.CN) (OTC: MYMMF) (the "Company" or "MYM") is pleased to announce that the Laval Project is on schedule for completion on December 15[th], 2017. MYM will then will be submitting on confirmation of readiness video and Standard Operating Procedures for Cultivation to Health Canada.
All underground plumbing is complete, Hvac installation is underway and next week the storage vault will be completed. All the walls of the production rooms are insulated and have the bullet proof windows installed. MYM has completed the grow equipment purchase order and was able to cut the projected costs in half. Grow equipment will arrive in 10 days to be installed.
In parallel, MYM's mega project "Weedon" has been progressing rapidly with engineering land studies completed and the Health Canada application is progressing rapidly. The Weedon processing and packaging, distribution plant design has been completed and final implementation on the greenhouse design of the first phase of 300,000 sqft is close to completion. MYM is currently going through the process to acquire a "Distribution and Dealers Import Export license" application with Health Canada, which will open up worldwide markets for MYM.
"Demand for cannabis is growing worldwide and with MYM actively investigating all opportunities in each sector of the cannabis industry, it will develop MYM into a complete Global seed to sale company," said Rob Gietl, Chief Executive Officer. "MYM is working to open up cannabis distribution channels globally to accelerate our growth. Our Weedon project alone has 329 acres to expand production on. As recreational cannabis opens in more markets and as global markets expand, we plan on being ahead of the curve and have supply chains ready."
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 sqft of production space. MYM is also a partner in a 1 million sqft production project in New South Wales, Australia. Australia is a brand-new market that is just opening up and MYM is a leader there. 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.
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.
SOURCE MYM Nutraceuticals Inc.