MYM Closes $5.5 Million Financing With Trichome Financial Corp.

VANCOUVER, British Columbia, Aug. 1, 2019 /CNW/ -- MYM Nutraceuticals Inc. ("MYM" or the "Company") (CSE: MYM) (CSE: MYM.CN) (OTCBB: MYMMF) is pleased to announce that it has closed a $5.5 million debt financing commitment with Trichome Financial Corp. ("Trichome Financial" or "Trichome") which will allow the Company to fully fund its strategic plan through 2020.

"After considerable due diligence, MYM and Trichome Financial have closed on a debt financing commitment of $5.5 million," said Howard Steinberg, CEO of MYM. "The commitment is an incredible vote of confidence for our plans to become global leaders in the cultivation, extraction, and distribution of CBD-rich hemp. The capital raise is a significant milestone that allows the Company to fully fund our strategic plan through 2020."

MYM currently has three CBD-rich hemp cultivation and extraction projects, two medical cannabis cultivation projects, and three CBD isolate distribution offices in Mexico, Australia, and the United Kingdom. Through 2020, the plan forecasts cultivating over 5 million pounds of CBD rich biomass that if converted into isolate, as per the plan, will produce 108,800 kilograms of CBD isolate. Visit mym.ca for more details on the 2019 Strategic Plan.

"We have been thoroughly impressed with the level of expertise and sophistication that MYM's new senior leadership team has displayed as they execute a pivot towards becoming leaders in all aspects of CBD-rich hemp" said Michael Ruscetta, CEO of Trichome. "This transaction is another example of Trichome providing flexible and timely capital fully secured against all the assets and licenses of MYM, which we expect will deliver extremely attractive returns". 

The Trichome financing ("Trichome Financing") is in the form of a senior secured term loan of up to $5.5 million with an interest a rate of 12% per annum and which matures in 12 months following closing, with an option to extend for another 6 months. The Trichome Financing will consist of two tranches, one for $3.0 million advanced at the time of closing and one for $2.5 million currently expected to be advanced within a few months. In connection with the Trichome Financing, MYM has released 4,000,000 warrants and will release an additional 1,000,000 warrants upon closing of the second tranche. Each warrant entitles the holder to purchase one common share of the Company at a price of $0.30 for a period of three years from the date of issue. In connection with the Trichome Financing, the Company has provided Trichome with security against all of its assets and licenses.

Howard Steinberg, CEO and Director of MYM, is also a director of Trichome and as such has recused himself from Trichome's board on this matter.

About Trichome Financial Corp.

Trichome is a specialty finance company focused on providing flexible and creative capital solutions to the global legal cannabis market. Trichome was created to address the lack of credit availability in the large, growing and increasingly complex cannabis market. Founded by industry leaders Origin House and Stoic Advisory, Trichome's experienced management team has a unique edge to capitalize on proprietary deal flow and industry insight while developing a first mover advantage as a global cannabis-focused specialty finance company. Trichome provides customized financing solutions across the industry value chain to support growth, capital expenditures, mergers, acquisitions, working capital and other needs. Leveraging the combined resources and knowledge of its founders, it is able to offer significant value-added financial, product, market and operational support to its partner companies. Trichome's current assets are all based in Canada and it has no operations or assets in the United States. For more information, please visit www.trichomefinancial.com or @trichomefinance on Twitter.

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

Keep up to date with MYM on our social media channels:

Twitter: @mymnutra
Facebook: @mymnutra
Instagram: @mymnutra

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results including the timing of the receipt of funds and interest payments and the receipt of a cultivation license from Health Canada. 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 and does not undertake any intention or obligation to revise or update such statements, except as required by applicable law. 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 dated April 24, 2019 (the "MD&A") and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.

Forward-looking statements may include, without limitation, statements relating to the Company's ability to fully fund its strategic plan through 2020; its plans to become global leaders in the cultivation, extraction, and distribution of CBD-rich hemp; the forecast to cultivate 5 million pounds of CBD rich biomass; the production of 108,800 kilograms of CBD isolate; the Company's ability to close the second tranch of the Trichome Financing; or the Company's ability to acquire complementary businesses and assets in the technology, nutraceuticals and CBD sectors.

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.

Investor Relations
Billy Casselman
[phone]
[email protected]

SOURCE MYM Nutraceuticals Inc.