VANCOUVER, British Columbia, September 19, 2017 /PRNewswire/ --
MYM Nutraceuticals Inc., (MYM.CN) (CSE: MYM) (OTC: MYMMF) (the "Company" or "MYM") is pleased to announce that it has entered into a consulting agreement with International Cannabis Consultants Co. ("Incanco"), leading authorities on the legal framework of cannabis legislation in Canada. Incanco's Chief Operating Officer, John Conroy, has been a trailblazer in effecting groundbreaking legal changes to cannabis legislation in Canada for many years.
Under the consulting agreement, MYM engaged Incanco for a three-year consulting term effective September 18, 2017. Pursuant to the consulting agreement Incanco provides various consulting services including, but not limited to, the following:
- Aid in navigating current and future regulatory regimes for cannabis and cannabis products. Helping to secure a license for MYM to produce and distribute cannabis and cannabis products from its proposed Weedon, QC facility.
- Facilitate export license for MYM to distribute cannabis and cannabis products outside of Canada, primarily, the United States.
- Assist in submitting grants to the Quebec provincial government to further the completion of the Weedon, QC project.
- Introduce MYM to potential investors interested in financing current and future projects.
- Approach various levels of government to ensure that upcoming regulatory regime for legal cannabis includes extant dispensaries as the primary retail outlets for distribution of cannabis and cannabis products to the public.
Incanco's principal, Mr. Conroy, has extensive background as legal counsel in Constitutional and Criminal Law cases with respect to cannabis legislation. Mr. Conroy acted as lead counsel in the legal proceeding Allard v. Canada that resulted in a successful Constitutional challenge to the Marijuana for Medical Purposes Regulations that led to the current Access to Cannabis for Medical Purposes Regulations. As a result, medically approved patients are able to continue to produce cannabis for themselves or have a designated grower do so for them. Mr. Conroy is currently involved in communications with Federal government officials in Ottawa at Health Canada, making submissions with respect to the proposed Cannabis Act anticipated to become law in July 2018 and to legalize recreational marijuana. He recently appeared as a witness before the Parliamentary Standing Committee on Health that is studying Bill C - 45 before it goes to third reading in Parliament and is anticipated to become law. In the near term, he expects to be consulting and making submissions with respect to British Columbia Provincial legislation as well as engaging other provinces with respect to their proposed legislation.
"Engaging the legal expertise of Incanco in a consulting and advising capacity will help MYM execute the intricate process of securing its licenses, both in Canada and for export into the United States", said Rob Gietl, CEO of MYM. "Mr. Conroy is a distinguished expert on the constitutional and legal framework of cannabis in Canada and the United States through his membership in both the Canadian and US National Organization for the Reform on Marijuana Laws ("NOMRL ") and particularly the US NORML Legal Committee since the mid-1970's. Mr. Conroy will help MYM achieve its goal to become a global leader in the medicinal cannabis industry".
Under the terms of the Consulting Agreement, Incanco will receive 300,000 common shares in the capital of MYM at an issue price of $0.55 per share in satisfaction of a $165,000 signing bonus. Incanco will also be issued 150,000 common share purchase warrants (each a "Warrant"), with each Warrant entitling Incanco to acquire one common share in the capital of MYM for a period of 36 months from the Warrant's grant date. The exercise price of each Warrant is $0.55.
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 the 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).
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.
ON BEHALF OF THE BOARD
Rob Gietl, CEO
MYM Nutraceuticals Inc.
SOURCE MYM Nutraceuticals Inc.