VANCOUVER, British Columbia, April 9, 2019 /PRNewswire/ -- MYM Nutraceuticals Inc., (CSE: MYM) (CSE: MYM.CN) (OTCBB: MYMMF) ("MYM" or "The Company") is pleased to announce it has entered into a memorandum of understanding with Aqueous Sciences of Nevada, a wholly owned subsidiary of One World Ventures Inc.(OTC: OWVI), to grow 3,000 acres of hemp on Navajo Nation land located near the four corners area of Colorado, Arizona, Utah and New Mexico, USA.
MYM and Aqueous will incorporate a new company for the purpose of cultivating, extracting, and distributing hemp on 3,000 acres in New Mexico. Aqueous is the sole exclusive agent for the Navajo Nation, managing companies that wish to cultivate hemp on Navajo Nation land. MYM and Aqueous will work on an exclusive basis and will each own 50% of the new company. MYM and Aqueous plan to extend their activities to include extracting, manufacturing and distribution of hemp based products that will comply with Navajo Nation, USDA, FDA and FTC regulations and requirements.
"With the recent passing of the Farm Bill in the US, CBD-rich hemp was removed from the classified drug list, opening the door for farmers to legally grow hemp," said Howard Steinberg, CEO of MYM. "Our partnership with Aqueous is in keeping with our new strategic plan to become a global leader in the cultivation, extraction and distribution of hemp and CBD in bulk and for use in our own unique branded products."
MYM and Aqueous will fund the venture with up to an initial amount of $1,000,000 USD for operating and capital costs.
Aqueous will provide all labour, site management, and other resources as necessary to operate the business. Aqueous will ensure all regulatory approvals and compliance necessary to successfully cultivate legal hemp plants upon the Navajo Nation.
MYM will provide expertise and support in growing procedure, import/export facilitation, access to its research and development team, and distribution.
The Investment is conditional on the completion of the final documentation.
About One World Ventures Inc
Formed in 1997 OWVI is a publicly traded company who invests in & develops technologies, communities & systems that facilitate trade, finance, communication & travel across international boundaries, cultures & languages. They have substantial international experience in Europe, Asia & the United States setting up companies & establishing trade and commerce. The company leverages these skills with emerging technologies & strategic alliances to provide creative solutions & market opportunities. Their businesses together form the cornerstone of their enterprise giving the company opportunity to grow in the coming years. This combination provides OWVI with a trading, technology, and finance component to establish a strong presence across all business environments.
For more information visit: www.OneWorldVenturesInc.com
About MYM Nutraceuticals Inc.
MYM Nutraceuticals Inc. is an innovative company focused on the global growth of Cannabis and 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) (OTC:MYMMF) (FRA:0MY) (DEU:0MY) (MUN:0MY) (STU:0MY).
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.
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SOURCE MYM Nutraceuticals Inc.