VANCOUVER, British Columbia, May 14, 2018 /CNW/ -- MYM Nutraceuticals Inc., (CSE:MYM) (CSE:MYM.CN) (the "Company" or "MYM") is pleased to announce that CannaCanada Inc. has broken ground on the 1.5 million square foot cannabis production facility located in Weedon, Quebec.
"We are extremely excited to announce that our partners, CannaCanada Inc., have broken ground on the flagship production facility in the town of Weedon, Quebec," said Rob Gietl, CEO of MYM. "CannaCanada Inc. recently received confirmation from Health Canada via email inquiring about the progress of construction and when we might estimate completion. With the spring thaw now complete, our team is in full swing making arrangements to be construction ready in time for the delivery of the first round of greenhouses. The initial delivery of greenhouses is scheduled to be installed by the end of Q3, at which point we will advance to the video submission and cultivation stage."
In addition to obtaining the approved permits, architectural drawings, and security plans, the Company would like to provide the following recent updates regarding the project:
LEEDS Certification has been attained. Experts are now working on what level of certification can be achieved. This rating system is used to evaluate environmental performance of a building. MYM is committed to achieving the highest level possible and work towards sustainable design.
The external environmental analysis of the site has been completed. The geographic location of the project and its surrounding areas has been deemed to be secure. The Company has concluded there is minimal potential of negative impact from environmental issues such as flooding and wildfire. The analysis also affirmed the project would have little impact on the surrounding flora and fauna.
Analysis from Hydro Quebec is now underway. Officials have begun assessment of the site with the study scheduled to be completed by June 15. The site has identified long-term power needs and has a preliminary plan outlined to satisfy these needs in an efficient and economic manner. The Company has consulted with Hydro Quebec during this process to ensure it receives sufficient power for future expansion. Hydro Quebec currently maintains its status as the cheapest power supplier in Canada.
The Weedon facility is scheduled to be completed by the end of 2019. Complete build out will see greenhouse production space of 1.5 million sq ft, capable of producing an estimated 150,000 kgs of cannabis.
MYM has retained the services of Cannabis Compliance Inc. to consult the Company on regulatory compliance and due diligence for all its ACMPR projects in Canada.
About Cannabis Compliance Inc.
Cannabis Compliance Inc. (CCI) offers risk mitigation, due diligence and regulatory compliance for commercial cannabis producers and resellers around the world. They focus on the Global market and provide their clients with trusted and comprehensive solutions. CCI has extensive expertise in regulatory compliance, cultivation/horticulture, security designs/tender, facility designs/build-outs, quality assurance, training programs, auditing, Good Production Practices (GPP), Good Manufacturing Practices (GMP), Good Agricultural and Collection Practices (GACP), Import & Export, staff recruitment and financial planning. CCI exists to empower the future leaders in the global cannabis industry.
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.
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.
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