Vancouver, B.C. / TheNewswire / December 21, 2017 - MYM Nutraceuticals Inc., (CSE:MYM) (OTC:MYMMF) (the "Company" or "MYM") is pleased to announce that applications for a medicinal cannabis license for the Northern Rivers Project in Australia, for both cultivation and production, cannabis research license and manufacturing license have been accepted by the Office of Drug Control (ODC). The applications have now progressed to the assessment phase, all associated fees have been paid. The company will continue to provide updates as appropriate while it progresses through the process.
The company would like to announce that the it will begin operating under a new corporate name and will be known as Solaris Nutraceuticals Pty Ltd. (formerly " PUF Ventures Australia").
Michael Horsfall, President and CEO, said "The new name reflects our focus on distinct innovations to provide medicinal cannabis grown under the Northern Rivers Sun in our proposed 1.2 Million square foot Ultra-Clima glasshouse. In addition to our name change, you will see a fresh new look and feel to the corporate image of the company which reflects the innovation, quality and environmentally sustainable products to be developed in our glasshouse and manufacturing facilities.
MYM Nutraceuticals (CSE:MYM) and PUF Ventures Inc. (CSE:PUF) are co-owners in Solaris Nutraceuticals.
About Solaris Nutraceuticals
Solaris Nutraceuticals is an innovative medical technology company with headquarters in Sydney, Australia. It has proposed plans and applications with Office of Drug Control in Australia to build a 1.2 Million square foot glass house with a medical research center and manufacturing facility in the Northern Rivers Region of New South Wales Australia. Our corporate mission is to deliver an environmentally friendly, sun grown medicinal grade cannabis and on developing medicines and treatments for pain management along with a number of other medical conditions and specific plant based nutraceuticals. Our focus is on innovations that promote, support and deliver improvements in the quality, consistency and cost of medicines to our clients.
For more information, visit www.solarisnutraceuticals.com
About Northern Rivers Project
The Northern Rivers Project is a joint venture between PUF Ventures, PUF Ventures Australia, and MYM Nutraceutical, to build a 1.2 million square foot greenhouse operation on a 27-hectare parcel of land near the town of Casino in northern New South Wales, Australia. The operation when complete will include large-scale greenhouse, manufacturing, processing and office facilities for the cultivation, production and manufacture of medical cannabis and associated products in Australia. The first phase of the project will cover approximately 300,000 square feet, which will be the largest medical cannabis greenhouse in Australia. Based on current construction timelines, permitting and various Australian approvals, the first crop is expected to be planted in the fourth quarter of 2018.
About MYM Nutraceuticals Inc.
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. MYM has two production projects in Quebec that when completed will have over 1.5 million sf of production space. MYM is also a partner in a 1.2 million sf production project (Northern Rivers Project) in New South Wales, Australia. Australia is an exciting new market that has recently legalized medicinal cannabis. 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).
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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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.