MYM Announces Amendment to Loan Agreement

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(TheNewswire)



Vancouver, 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 amend the terms of the Loan Agreement (the “Loan Agreement”) dated July 31, 2020 with 1909203 Ontario Inc (the “Lender”).

The Lender and MYM have agreed to enter into an Amendment to the Loan Agreement (the “Amendment”) to defer all interest payable under the Loan Agreement to be due and payable on the maturity date as defined in the Loan Agreement.  As consideration for the Amendment, the Company will issue 1,000,000 purchase warrants (the “Warrants”) to the Lender. 

Each Warrant will entitle the holder to purchase one Share (a "Warrant Share") for a period of thirty-six (36) months from the issue date at a price of $0.095 per Warrant Share. The Warrants are subject to an acceleration provision that allows the Company to give notice of an earlier expiry date if the Company’s weighted average share price on the CSE (or such other stock exchange the Company may be trading on) is equal or greater than $0.19 for a period of 10 consecutive trading days.

As certain insiders participated in the Transaction, it is considered to be a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”).  The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities to be distributed in the Transaction in so far as the Transaction involves the insiders, exceeds 25% of the Company’s market capitalization.

The Transaction is subject to the approval of the Canadian Securities Exchange (the “CSE”).

About MYM Nutraceuticals Inc.

MYM is a Canadian cultivator, processor, and distributor of premium cannabis via its two wholly owned subsidiaries – SublimeCulture Inc., in Laval, QC and Highland Grow Inc., in Antigonish, 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

[email protected]

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

Twitter: https://twitter.com/mymnutra

Facebook: https://www.facebook.com/mymnutra

Instagram: https://www.instagram.com/mym.ca/

Linkedin: https://www.linkedin.com/company/mymnutra/

 

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