MYM Nutraceuticals Inc MYMMF

MYM NEWS

[SolidInvestment]

MYM Nutraceuticals arranges $1.2-million placement 2020-01-14 20:36 ET - News Release Mr. Howard Steinberg reports MYM ANNOUNCES $1.2 MILLION NON-BROKERED PRIVATE PLACEMENT AND CLOSES FIRST TRANCHE MYM Nutraceuticals Inc. has arranged an up to $1.2-million non-brokered private placement of 20 million units at a price of six cents per unit. 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. Finders fees of up to 8% in cash may be payable on this private placement 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 $0.10 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 weighted average share price on the CSE (or such other stock exchange the Company may be trading on) is equal or greater than $0.20 for a period of 10 consecutive trading days. The Company also announces it has issued 4,478,571 units in the first tranche of the private placement for gross proceeds of $268,714. There were no finders' fees payable on this tranche. Insiders subscribed to 1,666,683 units for gross proceeds of $100,001. As a result, the Private Placement is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to or the consideration paid by such persons exceeded 25% of the Company's market capitalization. About MYM Nutraceuticals Inc. MYM is uniquely positioned to opportunistically acquire and/or invest in companies within the cannabis and hemp industries 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 - upper level management of public companies, finance, law, master growing, plant pathology, agricultural economics, pharmaceutical, engineering, global marketing, product development and branding, distribution and seed genetics. MYM is a shareholder in two production projects in Quebec and is actively looking to acquire complementary businesses and assets in the cannabis sector . We seek Safe Harbor. 2020 Canjex Publishing Ltd. All rights reserved.