MYM Nutraceuticals To Acquire Crop Infrastructure Corp To Help 'Flourish In The Future'
MYM Nutraceuticals Inc. (CSE:MYM) (CSE:MYM)(OTC:MYMMF) announced Thursday it has entered into a letter of intent with Crop Infrastructure Corp. (OTC:CRXPF) to acquire all of Crop’s shares. The company aims to form and carry out a comprehensive plan for Crop.
The proposed transaction suggests that MYM obtains all outstanding Crop’s shares on an exchange ratio of 10.5 Crop shares for 1 MYM common share.
MYM provides a plethora of professional services to the companies in the cannabis industry, which posses important assets but need management support and funding, the company said.
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"The capital markets in the cannabis industry have become complex and demanding," MYM CEO Howard Steinberg said in a statement. "We are looking to acquire companies with valuable core assets that are poised to benefit from the restructuring expertise our team can bring, in terms of both capital and management support. We look forward to working closely with the Crop team as we develop a financial and operational plan to enable its assets to flourish in the future."
Michael Yorke, CEO of Crop, also commented on the proposed acquisition.
"MYM's team has proven to be extremely knowledgeable and reliable in helping Crop realign our strategy," he said. "They are extremely talented and well capitalized. We believe that this transaction is in the best interest of our shareholders."
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