VANCOUVER, British Columbia, July 17, 2019 /PRNewswire/ -- MYM Nutraceuticals Inc., (CSE:MYM) (CSE:MYM) (OTC:MYMMF) ("MYM" or "The Company") announces it has closed the second tranche of its non-brokered private placement announced on July 5, 2019 of 2,528,174 units at a price of $0.324 for gross proceeds of $819,128. Included in this tranche is a drawdown on the Alumina Equity Agreement for $497,137. Finder's fees of $1,701 were paid on this tranche.

Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $0.50 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 $1.00 for a period of 10 consecutive trading days.

The offering was priced in the context of the market based on a price reservation made by the Company with the Canadian Securities Exchange. The private placement is subject to the approval of the CSE and the securities will be subject to a four-month hold period under securities laws. The Company intends to use the net proceeds from the private placement to fund the strategic plan through 2020.

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) (OTC:MYMMF) (FRA:0MY) (DEU:0MY) (MUN:0MY) (STU:0MY).

ON BEHALF OF THE BOARD
Howard Steinberg, CEO
MYM Nutraceuticals Inc.
www.mym.ca 

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.

Investor Relations
Billy Casselman
778-522-2261
[email protected]

Keep up to date with MYM on our social media channels:
Twitter: @mymnutra
Facebook: @mymnutra
Instagram: @mymnutra

SOURCE MYM Nutraceuticals Inc.