hallieday wrote: Saramago wrote: I called Mym's CEO, Jonathan Fetini today to get clarification on a few things that were bothering me. This is what he told me:
1. The pp is closed. He said there was alot of interest in the pp, they tried to get an extension on it but cse did not allow it so they had to turn some subscribers away. Closing will be announced after paperwork is finalized.
2. New management team. He said they are in the process of putting in place a new management team. Announcement of team members to come soon.
3. Sublime Acquisition. He said Sublime is located in Quebec and that they were flying there this weekend to further assess their needs going forward in terms of Health Canada application/marketing/communications (website etc)
4. He said 'he was excited that they have several new developments coming down the pipeline'. Said those announcements will be released through NR's in due time.
I also asked him about the confusion of the Sublime NR (the fact that it says stage 4 and 5 and how that didn't coincide with review stage under the ACMPR application process):
Vancouver, B.C., February 1, 2017 – MYM Nutraceuticals Inc. (CSE:MYM) (the “Company” or “MYM”) is pleased to announce that it has entered into an exclusive agreement to acquire a 51% interest in Sublime Culture Inc. (“Sublime”), a company possessing an application—currently in its inspection stage (stage 4 of 5)—to become a Licensed Producer under Health Canada’s Access to Cannabis for Medical Purposes Regulations. MYM will supply funding and resources to build out Sublime’s medical marijuana facility in preparation for the inspection required to obtain a growing license. If Health Canada auditors are then satisfied with a successful crop, MYM will be granted its distribution license (stage 5, the final stage).
He said that Sublime's application was under MMPR when they applied in 2014. The application stages under MMPR were different then they are now under ACMPR and the NR does not reflect these changes.
MMPR Stages:
1. Preliminary Screening
2. Enhanced Screening
3. Security Clearance
4. Review (MYM then)
5. Ready to Build Letter (ready to build letter amounted to a conditional MMPR production license
6. Pre-License Inspection
7. Licensing
CHANGED TO:
ACMPR Stages:
1. Application Received
2. Preliminary Screening
3. Enhanced Screening
4. Initiation of Security Clearance Process
5. Review
6. Pre-License Inspection (MYM now)
7. Licensing
So, MYM under MMPR was in stage 4 (Review)at time of receiving HC update, since that time, MYM has advanced to Stage 6 (Pre-License) under ACMPR.
Read more at https://www.stockhouse.com/companies/bullboard?symbol=c.mym&postid=25793562#jMklWfMK6f2F2f2w.99