VANCOUVER, British Columbia, June 8, 2019 /CNW/ -- MYM Nutraceuticals Inc., (CSE:MYM.CN - News) (CSE:MYM.CN - News) (OTCBB:MYMMF - News) ("MYM" or "The Company") announces it has closed a non-brokered private placement as part of a series of drawdowns on the Alumina Equity Agreement consisting of 1,893,940 units at a price of CAD$0.264 per unit for gross proceeds of $500,000.00.
Each unit consists of one common share and one transferable common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $0.413 for a period of three years from the issue date. The warrants are subject to an acceleration provision that allows the Company to give notice of an earlier expiry date if the Company's share price on the Canadian Securities Exchange (or such other stock exchange the Company may be trading on) is equal or greater than $.825 for a period of 10 consecutive trading days. The securities will be subject to a four month and one day hold period under securities laws.
The Company intends to use the proceeds from the private placement tor working capital purposes.
About MYM Nutraceuticals Inc.
MYM Nutraceuticals Inc. is an innovative company focused on the global growth of Cannabis and CBD-rich hemp. 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.CN - News) (OTC:MYMMF - News) (FRA:0MY.F - News) (DEU:0MY.F - News) (MUN:0MY.MU - News) (STU:0MY.SG - News).
ON BEHALF OF THE BOARD
Howard Steinberg, CEO
MYM Nutraceuticals Inc.
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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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SOURCE MYM Nutraceuticals Inc.
View original content: http://www.newswire.ca/en/releases/archive/June2019/08/c7667.html