(TheNewswire)
Vancouver, BC. / TheNewswire / November 14,
2018 – MYM Nutraceuticals Inc., (CSE: MYM) (the “Company” or “MYM”) shares
the Globe and Mail report regarding Health Canada’s intention to fast-track applicants under the previous ACMPR system.
Health Canada has introduced a series of “transitional measures” to fast track late-stage applicants
through the licensing process.
On Thursday, the department sent a letter outlining a “two-phased” approach to security clearances for companies that had received
a Confirmation of Readiness (COR) letter before Oct. 16, which could shorten their wait times for final approval by several
months.
Applicants who applied under the previous ACMPR system have, in many cases, waited years for license approval. The concern was that
increased security rules under the Cannabis Act meant the COR-approved applicants would have to wait an additional three-to-six
months for new background checks to be processed.
The two-phased security approach, announced on Thursday, means that COR-approved companies may be able to receive conditional
licenses following an “initial security clearance” for key employees, whose clearance is necessary for license approval.
An expedited licensing process comes at a time when the young legal industry is experiencing extreme shortages, while the queue of
applicants continues to grow. “At this time, more than 600 applications are at various stages of review and Health Canada
anticipates significant interest in new licenses under the Cannabis Act,” the letter notes.
According to the letter, Health Canada has significantly increased its
ability to process new licenses over the past few months.
“By the end of October 2018, we will have tripled our capacity to review licenses and process security clearances from where we
were in May 2017. The RCMP has also tripled its capacity to process security clearances, and will double it again over the next six
to eight months,” the letter notes.
About MYM Nutraceuticals Inc.
MYM Nutraceuticals Inc. is an innovative company focused on acquiring Health Canada licenses to produce and
sell high-end medicinal cannabis supplements and topical products. MYM is a shareholder in two production projects in Quebec that are
anticipated to have over 1.5 million square feet of production space. MYM is also a shareholder in a cannabis production project in
Australia. The “Northern Rivers Project” in New South Wales, Australia is expected to have 1.2 million square feet of cannabis
production space. To ensure a strong presence and growth potential within the industry, MYM is actively looking to acquire
complementary businesses and assets in the technology, nutraceuticals and CBD sectors. MYM shares trade in Canada, Germany
and the USA under the following symbols: (CSE:MYM) (OTC:MYMMF) (FRA:0MY) (DEU:0MY) (MUN:0MY) (STU:0MY).
ON BEHALF OF THE BOARD
Rob Gietl, CEO
MYM Nutraceuticals Inc.
www.mym.ca
Investor Relations
Brian Tasker
1.403.616.1045
brian.tasker@mym.ca
Keep up to date with MYM on our social media channels:
Twitter: @mymnutra
Facebook: @mymnutra
Instagram: @mymnutra
This news release may contain forward-looking statements based on assumptions and judgments of
management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could
cause actual events or results to differ materially from those reflected in the forward-looking statements. The company disclaims
any intention or obligation to revise or update such statements. For a description of the risks and uncertainties facing the
Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis and other
disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
This news release does not constitute an offer to sell or solicitation of an offer to buy any of the
securities described herein and accordingly undue reliance should not be put on such. Neither the Canadian Securities Exchange (CSE
or CNSX Markets), nor its Regulation Services Provider (as that term is defined in policies of the CSE), accepts responsibility for
the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of
the securities described herein in the United States. The securities described herein have not been registered under the United
States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold
in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under
the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is
available.
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