MYM Nutraceuticals Inc. (CSE:MYM) (“MYM”) is pleased to announce that it has entered into a conditional Agreement to acquire a 49% stake in Sunmark Growth, an Australian company entering the cannabis industry in Henty, New South Wales. Sunmark Growth is preparing a cannabis production license application and cannabis research license application for the ODC, the government agency that handles cannabis licenses in Australia.
Sunmark Growth founders Mr Robert Szatmari and Mr Fabian Szatmary , both with legal backgrounds and over 17 years combined agricultural experience, have developed a joint venture partnerships and collaborations with leaders internationally in areas of agriculture, soil science, greenhouse technology, soil regeneration and sustainable waste processing. Their agricultural projects in the Philippines span more than 212,000 hectares, directly involves over 1,000 Indigenous community members and indirectly involves over 60,000 indigenous people.
Sunmark Growth and their partners, the Muller family are excited at the opportunity to partner with MYM Nutraceuticals to transform the Muller’s property in Henty, New South Wales, into one of the largest licensed outdoor cultivation operations in Australia. The project will leverage Sunmark’s innovations as well as the Muller family’s legacy of 120 years of farming and agricultural experience. The Muller family are one of the most respected and accomplished farming families in this region and the family currently manages over 5,000 hectares of farmland.
Sunmark Growth will work in tandem with the community of Henty, New South Wales on the project and look forward to the socio-economic benefits that will arise from this joint venture partnership. This project also motivates younger generations to refrain from suburban migration and to continue with generations of farming and agricultural traditions.
Any agreement with Sunmark Growth is subject to all required approvals and MYM’s due diligence.
Australia is an exciting emerging cannabis market having legalized cannabis for medical use just 2 years ago. Earlier this year the Government announced it will now permit the export of Australian manufactured medicinal cannabis products opening up the $55 billion global market. “Our goal is very clear, to give farmers and producers the best shot at being the world’s number one exporter of medicinal cannabis,” Health Minister Greg Hunt told reporters in Melbourne.
About Sunmark Growth
Sunmark Growth is an agricultural company located in New South Wales, Australia. It is preparing initial plans and will be applying with the Office of Drug Control in Australia (the “ODC “) to grow cannabis on up to 1000 hectare farm that will include a medical research center and manufacturing facility. The Sunmark Growth corporate mission is to deliver an environmentally friendly, sun grown medicinal grade cannabis and on developing medicines and treatments for pain management and other medical conditions.
MYM is a 35% shareholder in Solaris Nutraceuticals in Australia that is in application for a medicinal cannabis license and cannabis research license. Solaris has been notified by the ODC that its application for both a medicinal cannabis license and cannabis research license has been rejected subject to Solaris’ right to have the decision reviewed within 90 days of the decision. The ODC has rejected the application due to Solaris’ failure to provide certain documents and information required for the application. Key members of the Solaris board of directors are currently collecting the missing documents and information and expect to be in the position to submit the information for submission to the ODC as soon as possible.
About MYM Nutraceuticals Inc.
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. MYM is a shareholder in two production projects in Quebec that when completed is anticipated to have over 1.8 million square feet of production space. MYM is a shareholder in a project in New South Wales, Australia, an exciting new market that has recently legalized medicinal cannabis. 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.
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