Uncategorized
Share this news article...
Share on LinkedIn
Linkedin
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on Google+
Google+
Email this to someone
email

MYM Announces $25,000,000 CDN Equity Investment

 

 

 

 

 

MYM Nutraceuticals Inc., (CSE: MYM) (CSE: MYM.CN) is pleased to announce the Company has signed a term sheet for a $25 million equity investment by Alumina Partners LLC, a New York-based private equity firm that has made substantial investments in the cannabis space. The investment can be drawn over a two-year period and is expected to close before the end of the year, once negotiations of the definitive documentation are complete. The draw-down nature of this investment gives MYM flexibility to build, with the ability to access funds when necessary.

 

The investment is a key milestone in our development to become a significant player in the cannabis space and validates our plans for the future.

 

The investment will be used to continue construction on both the Weedon and Laval projects in the province of Quebec and for general corporate purposes. MYM’s subsidiary, CannaCanada, is currently building a 1.5 million square-foot greenhouse in the Eastern Township community of Weedon, Quebec. MYM’s subsidiary, Sublime Culture Inc., has completed the construction of a 10,000 square-foot production facility in Laval, Quebec, with plans to expand to 37,000 square-feet.

 

“Having access to $25 million will allow MYM and its partners to make substantial inroads on the projects currently under construction in Quebec,” said Rob Gietl, CEO of MYM. “We’re looking forward to advancing our plans to be a major player in the underserved province of Quebec.”

 

“Quebecois Cannabis is rapidly taking a front seat as a driving economic force behind the emerging market opportunities for regulated Cannabis in 2019,” added Adi Nahmani, Alumina’s Managing Member. “We regard any meaningful early-mover advantage in the province to be a key one, and are excited to support MYM in their accelerated plans to execute toward a decisive leadership role in the space.”

 

About MYM Nutraceuticals Inc. 

 

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 or partner with complementary businesses and assets in the technology, nutraceuticals and CBD sectors.

 

Posted December 3, 2018

Share this news article...
Share on LinkedIn
Linkedin
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on Google+
Google+
Email this to someone
email

MORE or "UNCATEGORIZED"


Netcoins Lists Bitcoin SV (BSV)

Netcoins Holdings Inc. (CSE: NETC) (OTC: GARLF) (WKN: 1WJ) is ple... READ MORE

December 7, 2018

Organigram obtains $10M loan from Farm Credit Canada to continue to expand Moncton campus

Organigram Holdings Inc. (TSX-V: OGI) (OTCQX: OGRMF), the parent ... READ MORE

December 7, 2018

Fimbrion and GSK Identify Novel, Antibiotic-Sparing Development Candidate for Urinary Tract Infections

Fimbrion Therapeutics, Inc. announced that under its joint resear... READ MORE

December 6, 2018

Four wind farms commissioned in France

Boralex Inc. (TSX:BLX) is pleased to announce commercial co... READ MORE

December 6, 2018

ATS Announces Acquisition of Intellectual Property Assets of Transformix

ATS Automation Tooling Systems Inc. (TSX: ATA) an industry-leadin... READ MORE

December 6, 2018

Copyright 2018 The Venture Report