VANCOUVER, July 27, 2017 /CNW/ - MYM Nutraceuticals Inc., (CSE: MYM) (OTC:MYMMF), (the "Company" or "MYM") is extremely pleased to announce that Health Canada has introduced new regulations that will allow for a substantial increase in production at the Laval location vault size. The new regulations will increase the authorized capacity of the vault size from 320 kg to 1000 kg of dried cannabis. At full capacity, the increase in vault size represents an additional $3,400,000 in gross revenue.
The new regulations enable MYM to manage the production of cannabis products based on the capacity and security of the vault. Secondly, low-value cannabis waste products will not be included in the maximum authorized storage capacity. This will create additional storage space in the secure vault for finished cannabis products.
Under the new regulations, MYM will no longer have to wait for Health Canada to conduct a pre-license inspection to begin cultivation. MYM will now be required to demonstrate that the location is in good working order. Health Canada will follow up with inspections during the cultivation of cannabis.
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. 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.
For further information: MYM Investor Relations Contact: Terry Brown, +1(855)696-2261