VANCOUVER, British Columbia, August 16, 2017 /PRNewswire/ --
MYM Nutraceuticals Inc., (OTC: MYMMF) (CSE: MYM) (the "Company" or "MYM") is pleased to announce the City of Laval, QC has approved the building permits to begin construction on the Laval project.
MYM has commenced phase one construction of the Laval production facility which is capable of producing 1000kg of medical cannabis annually, approximately seven million dollars in gross revenue for the Company. The estimated date of completion for phase one construction will be Q4 of 2017. MYM has engaged ICORE Construction, one of Quebec's most reputable contractors, to oversee and execute the construction.
"With the approved permits, architectural drawings and security plans already in place, MYM has commenced construction of the Laval QC project," said Rob Gietl, CEO of MYM. "We are building within our existing warehouse building which accelerates our construction timeline to approximately 90 days."
Phase two of the Laval project will consist of building an additional 16,000 square foot facility for the growing and manufacturing of medical cannabis products which is capable of producing 1800kg of medical cannabis annually, an increase of approximately 13 million dollars in gross revenue for the Company. Phase two application permits will be ready for submission within 60 days with a construction completion date of 3rd quarter 2018.
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 http://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.
MYM Nutraceuticals Inc.
SOURCE MYM Nutraceuticals Inc.