VANCOUVER, British Columbia – TheNewswire – August 25, 2020 – MYM Nutraceuticals Inc. (CSE:MYM) (CNSX:MYM.CN) (OTC:MYMMF) (“MYM“) announces that it has borrowed an additional $600,000 pursuant to the Loan Facility with 1909203 Ontario Inc. (the “Lender“) previously announced on July 27, 2020. As consideration for such loan, MYM has issued the Lender 28,571,429 common share purchase warrants each of which may be exercised to purchase one common share of MYM at a price of $0.07 per common share for a period of 36 months.
The parties acknowledge that Michael Weiner (“Mr. Weiner“), a director of MYM, is also a director of the Lender and as a result, the Loan Facility constitutes a “related party transaction” under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101“). Notwithstanding the forgoing, the directors of MYM have determined that the related party portion of the Loan Facility is exempt from the valuation and minority approval requirements of MI 61-101, in reliance on the exemptions set forth in sections 5.5(a) and 5.7(1)(a) of MI 61-101, on the basis that neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Loan Facility, in so far as it involves Mr. Weiner, exceeds 25% of the market capitalization of MYM as of the date hereof.
About MYM Nutraceuticals Inc.
MYM is a licensed cannabis producer in Canada uniquely positioned to opportunistically acquire and/or invest in companies within the cannabis industry that are in need of capital and management support. Our senior management team is made up of experts engaged in a wide array of disciplines, able to manage all aspects of licensed cannabis production and sales. MYM wholly owns two cannabis cultivation facilities – SublimeCulture Inc in Laval, QC and Highland Grow in Antigonish, NS. The Company is actively looking to acquire complementary businesses and assets in the cannabis sector. 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 MYM BOARD
Michael Wiener, CEO
MYM Nutraceuticals Inc.
Investor Relations – email@example.com
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