VANCOUVER, British Columbia, Oct. 3, 2019 /CNW/ -- MYM Nutraceuticals Inc., (CSE: MYM) (OTCBB: MYMMF) ("MYM" or the "Company") provides an update on the BioHemp Naturals Growing and Farming Ltd. ("BioHemp") rescission agreement announced August 24, 2019.
The Company is proceeding as planned with the application for an order for rescission. We anticipate that the Department of Justice, on behalf of its government clients, will not oppose the application and we expect that the order for rescission will be granted in the next few weeks.
Once the order for rescission is granted, the transaction between MYM and BioHemp which closed on August 1, 2019 will be treated as if it never occurred. In keeping with this, the purchase price of $2.5 million and 6,000,000 million shares of MYM will be returned to MYM and MYM will return the shares of BioHemp.