MYM Nutraceuticals Inc., (CSE: MYM) (CSE: MYM.CN) (OTC: MYMMF) is pleased to announce it has submitted the Confirmation of Readiness for a License under the Access to Cannabis for Medical Purposes Regulations (ACMPR) to Health Canada for the Sublime production facility in Laval, Quebec.
The Laval Facility – phase one of the Laval facility is 10,000 sf. Phase two, scheduled to be completed in 2018, will see the growing area expanded to 37,000 sf. This license will enable MYM to manufacture its branded medicinal THC and CBD products. The Laval project is estimated to produce gross sales of $27 million by 2019 with profit estimates of $17 million, based on current per gram prices of $8.50.
"We are delighted to have met our stated target deadline of December 15 for the submission of the Confirmation of Readiness for a License," said Rob Gietl, MYM CEO. "This submission is a key milestone for MYM and its partners, one of many more to come. We are looking forward to beginning production at the Laval facility and are committed to continuing to build value for the Province of Quebec and our shareholders."
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 Quebecthat 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).
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MYM Submits Confirmation of Readiness for a License Under the ACMPR to Health Canada for Laval, Quebec Facility
