MYM Closes Non-Brokered Private Placement
VANCOUVER, British Columbia - TheNewswire - October 11, 2019- MYM Nutraceuticals Inc., (CNSX:MYM.CN) (OTC:MYMMF) ("MYM" or the "Company") announces it has issued 1,190,476 units in a non-brokered private placement at a price of $0.105 per unit for gross proceeds of $125,000. There were no finders' fees payable on this private placement.
The offering was priced in the context of the market based on a price reservation made by the Company with the Canadian Securities Exchange ("CSE"). The private placement is subject to the approval of the CSE and the securities will be subject to a four-month hold period under securities laws. The Company intends to use the net proceeds from the private placement for working capital purposes.
Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $0.175 for a period of three years from the issue date. The warrants are subject to an acceleration provision that allows the Company to give notice of an earlier expiry date if the Company's share price on the CSE (or such other stock exchange the Company may be trading on) is equal or greater than $0.35 for a period of 10 consecutive trading days.
MYM Nutraceuticals Inc. is an innovative company focused on the global growth of Cannabis and CBD-rich 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 International Brands Inc. is dedicated to creating and distributing world-class CBD-rich consumer products around the globe. 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 April 24, 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 technology, nutraceuticals and CBD sectors. Forward-looking statements may also include, without limitation, statements relating to the Company's or its affiliates' ability to create and distribute world-class CBD-rich consumer products around the globe.
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.