MYMMF - MYM Announces Amendment to Loan Agreement
(TheNewswire)
V ancouver , British Columbia - TheNewswire - January 14, 2021 - MYM Nutraceuticals Inc.,(CSE:MYM) (CNSX:MYM.CN) (OTC:MYMMF) (“MYM” or the“Company”) announces that it has agreed to amendthe terms of the Loan Agreement (the “LoanAgreement” ) dated July 31, 2020 with 1909203 Ontario Inc (the “Lender” ).
The Lender and MYM have agreed to enter into anAmendment to the Loan Agreement (the “ Amendment ”) todefer all interest payable under the Loan Agreement to be due andpayable on the maturity date as defined in the Loan Agreement. Asconsideration for the Amendment, the Company will issue 1,000,000purchase warrants (the “ Warrants ”) to the Lender.
Each Warrant will entitle the holder to purchase oneShare (a "WarrantShare") for a period of thirty-six (36)months from the issue date at a price of $0.095 per Warrant Share. TheWarrants are subject to an acceleration provision that allows theCompany to give notice of an earlier expiry date if the Company’sweighted average share price on the CSE (or such other stock exchangethe Company may be trading on) is equal or greater than $0.19 for aperiod of 10 consecutive trading days.
As certain insiders participated in the Transaction, itis considered to be a “related party transaction” as defined underMultilateral Instrument 61-101 (“MI 61-101” ). The transaction is exemptfrom the formal valuation and minority shareholder approvalrequirements of MI 61-101 as neither the fair market value of thesecurities to be distributed in the Transaction in so far as theTransaction involves the insiders, exceeds 25% of the Company’smarket capitalization.
The Transaction is subject to the approval of theCanadian Securities Exchange (the “CSE” ).
About MYM Nutraceuticals Inc.
MYM is a Canadian cultivator, processor, anddistributor of premium cannabis via its two wholly owned subsidiaries– SublimeCulture Inc., in Laval, QC and Highland Grow Inc., inAntigonish, NS. MYM shares trade in Canada,Germany and the United States under the following symbols: (CSE: MYM)(OTC: MYMMF) (FRA:0MY) (DEU:0MY) (MUN:0MY) (STU:0MY).
ON BEHALF OF THE MYM BOARD
Michael Wiener, CEO
MYM Nutraceuticals Inc.
www.mym.ca
Investor Relations
investors@mym.ca
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