MYM Nutraceuticals Inc MYMMF

MYM Closes Second Tranche of Non-Brokered Private Placement.

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VANCOUVER, British Columbia,Jan. 29, 2020/CNW/ -- MYM Nutraceuticals Inc., (CSE:MYM.CN-News) (CSE:MYM.CN-News) (OTC:MYMMF-News) ("MYM" or the "Company") announces it has closed the second tranche of the non-brokered private placement previously announced onJanuary 14, 2020. The second tranche issued 3,683,416 units at a price of$0.06per unit for gross proceeds of$221,005. There was$2,664in finders' fees payable on this tranche. 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$0.10for 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$0.20for a period of 10 consecutive trading days. 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.