MYM Nutraceuticals Inc., (CSE:MYM) (the “Company” or “MYM”) announces today that the board of directors received the resignation of Director and COO Michelle Hackett and appointed in her place, Robin Linden, to the position of Director.
Ms. Hackett joined the board of directors in 2014. She resigned from the board to focus on growing MYM’s retail presence in provinces that are expected to legislate a private distribution and sales model for the sale of recreational cannabis.
“With the upcoming legalization of recreational cannabis in Canada and many of the provinces releasing their plans for distribution and sales, there is an opportunity for MYM to further develop its current relationships and build new alliances across Canada,” said Rob Gietl, CEO of MYM. “Ms. Hackett will continue to play a valuable role for MYM in establishing relationships with key stakeholders in the provinces that allow for the private sector to participate in the distribution and sales of recreational cannabis.”
Mr. Linden has over 20 years leadership and management experience. He is currently a
Director with Fairmont Hotels and Resorts based out of Vancouver, BC. Prior to that, Mr. Linden served in leadership and management roles with the University of Manitoba, Molson Breweries Canada and Canadian luxury retailer, Holt Renfrew. Mr. Linden holds a BA (hons) from the University of Manitoba and Post Graduate Diplomas from Simon Fraser University in Vancouver and the University of St. Andrews in Scotland.
MYM granted Mr. Linden 300,000 stock options pursuant to the Company’s stock option plan. The options are exercisable for a period of three years at a price of $2.67 per share and will vest in equal proportions quarterly over the three years.
MYM is also pleased to announce that it closed its previously announced non-brokered private placement consisting of 240,000 common shares for gross proceeds of $600,000. MYM intends to use the proceeds of the private placement for general working capital purposes.
MYM Nutraceuticals Inc. is an innovative company focused on acquiring Health Canada licenses to produce and sell high-end organic medicinal cannabis supplements and topical products. 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.
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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