VANCOUVER, British Columbia, Feb. 4, 2019 /CNW/ -- MYM Nutraceuticals Inc., (CSE: MYM) (OTCBB: MYMMF) ("MYM" or "The Company") is pleased to announce the appointment of Howard Steinberg as Chief Executive Officer (CEO) replacing Rob Gietl as of February 1, 2019. In addition to his CEO duties he will remain Vice Chairman of the Board of Directors.
Mr. Steinberg has more than 20 years investment experience as a senior executive, working within some of the largest financial institutions in the world. He has sat on over a dozen Boards including his current role as Executive Chairman of Parallax Developments Corp and as a board member of Trichome Financial, a specialty finance company focused on providing a range of credit-based capital solutions to the legal cannabis industry. He has invested personally and with global financial institutions in a wide range of industries in every area of the balance sheet. Mr. Steinberg has an MBA from the University of Western Ontario and is a CFA Charterholder.
"MYM is fortunate to have attracted someone of Howard Steinberg's caliber to lead the Company forward. Our growth plan is aggressive, and we felt it best to reorganize our leadership to better address those challenges," said Erick Factor, Executive Chairman of MYM.
"I am excited to join MYM Nutraceuticals as CEO and look forward to leading the team in the execution of our corporate strategy as a global player in the cannabis and hemp industries," said Mr. Steinberg.
"It is with mixed emotions that I leave MYM. I have enjoyed working with the various teams and will miss being part of MYM's future, however, I fully support the change in leadership as it is time to bring in new thoughts and perspectives," said Rob Gietl former CEO MYM.
As consideration for becoming CEO, Howard Steinberg was granted options to purchase 2,000,000 shares of the Company in accordance with the Company's stock option plan for a period of three years. The options are exercisable at a price of $.79 per share. 500,000 options will vest in a single tranche immediately with the balance vesting over the 12 months. The expire date of these options in February 1, 2022.
About MYM Nutraceuticals Inc.
MYM Nutraceuticals Inc. is an innovative company focused on the global growth of Cannabis and 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 USA 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 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 www.sedar.com.
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SOURCE MYM Nutraceuticals Inc.