MYM Update on SublimeCulture and Management Changes

VANCOUVER, British Columbia, April 3, 2020 – MYM Nutraceuticals Inc., (CSE: MYM) (OTC: MYMMF) (“MYM” or the “Company”) is pleased to provide a corporate update on its recently licensed cultivation facility, SublimeCulture Inc., located in Laval, Quebec and changes to senior management.

MYM is pleased to provide the following update regarding the SublimeCulture licensed facility in Laval:

The Company has been working diligently since receiving a cultivation license on January 31, 2020 and has completed the preparation of the SublimeCulture facility to start production. All starting materials have been sourced and delivery confirmed for the week of April 13. With the onset of COVID-19, the Company has prepared the facility and trained the staff to comply with recommended procedures.  As licensed cannabis production has been deemed an “essential service” in Quebec during the COVID-19 pandemic, the Company will be able to continue operations during the outbreak and has developed procedure to work in a safe and controlled manner.

The Company has appointed Dr. Brigitte Simons (PhD and eMBA) as the Responsible Person in Charge (RPIC) and Quality Assurance Person (QAP). She is one of the few experts in technical quantitative reporting using mass spectrometry, a technology that is used to deliver accurate potency and testing of cannabis products. Her experience covered drug toxicology, product health, and environmental safety, and was essential to the construction of the framework of Bill C-45 for Good Production Practices of Cannabis. Most recently, Dr. Simons was Vice President of Laboratories and Operations at Molecular Science Corp., a Health Canada-licensed laboratory services company specializing in analytical testing with a mobile lab to service the cannabis industry.

The Company has re-engaged seed specialist and master grower, Sasha Przytyz. Mr. Przytyz has extensive experience in the medicinal cannabis and horticultural sector. He is a designated cannabis grower, licensed through Health Canada’s MMAR and AMCPR programs since 2009. Sasha was the first private recipient of a Health Canada Industrial Hemp Research license in Québec. Sasha established “The Joint Doctor” and “High-Bred Seeds” as world-renowned seed brands. Through the revolutionary strain “Lowryder,” he introduced the concept of autoflowering cannabis. Lowryder is recognized worldwide as the first 100% autoflowering variety and The Joint Doctor has been dubbed the “Father of Autoflowering.”  Widely adopted by seed companies today, autoflowering strains now represent approximately 40% of the European seed market.

Effective immediately, Howard Steinberg will step down as President, Chief Executive Officer, and member of the audit and compensation committees for MYM. Mr. Steinberg will remain as chairman of the board of directors. The Company would like to thank Mr. Steinberg for his direction and leadership and looks forward to his continued guidance as Chairman of the Board.

The day to day operations of the business will fall to Robin Linden who has been appointed President and Chief Executive Officer. Mr. Linden has been with MYM since 2016 and was appointed to the board of directors in 2017, serving several positions within the Company.

“While I’ve stepped down as CEO of MYM I will remain with the company as chairman of the board of directors”, said Howard Steinberg. “I have full confidence in Mr. Linden’s abilities and faith in the company to continue on its path of becoming a successful licensed cannabis producer after recently receiving its cultivation license from Health Canada for the SublimeCulture facility in Laval, Quebec”.

Ted Tabisz has been appointed interim Chief Financial Officer in place of Mr. Linden and will continue as a Director of the Company. Mr. Tabisz has decades of experience working in finance in various senior management roles at TD Canada Trust.

The Company also announces that a total of 6,800,000 incentive stock options have been granted to certain directors, officers, employees and consultants of the Company pursuant to the Company’s stock option plan. The options are priced at $0.06 per common share. The options granted will vest immediately and expire after three years.

About MYM Nutraceuticals Inc.
MYM is a licensed cannabis producer in Canada. We are uniquely positioned to opportunistically acquire and/or invest in companies within the cannabis and hemp industries that are in need of capital and management support. Our senior management team is made up of experts engaged in a wide array of disciplines – upper level management of public companies, finance, law, master growing, plant pathology, agricultural economics, pharmaceutical, engineering, global marketing, product development and branding, distribution and seed genetics. MYM is a shareholder in two production projects in Quebec and is actively looking to acquire complementary businesses and assets in the cannabis sector. MYM shares trade in Canada, Germany and the United States under the following symbols: (CSE: MYM) (OTC: MYMMF) (FRA:0MY) (DEU:0MY) (MUN:0MY) (STU:0MY).

ON BEHALF OF THE BOARD

Robin Linden, Director
MYM Nutraceuticals Inc.
www.mym.ca

Investor Relations
[email protected]

 

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 forward-looking statements in this news release are made as of the date of this release. The Company disclaims and does not undertake any intention or obligation to revise or update such statements, except as required by applicable law. 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 dated October 28, 2019 (the “MD&A”) and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.

Forward-looking statements may include, without limitation, statements relating to the Company’s ability to acquire complementary businesses and assets in the cannabis and hemp industry or cannabis sector or to produce at its indoor facility and its ability to continue to operate a safe and controlled manner with the COVID-19 pandemic. 

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.