MYM Obtains Final Order for Arrangement with IM Cannabis Corp.
VANCOUVER, British Columbia, July 08, 2021 (GLOBE NEWSWIRE) — MYM Nutraceuticals Inc., (CSE: MYM) (OTCBB: MYMMF) (“MYM” or the “Company”), is pleased to announce that it has been granted the final court order from the Supreme Court of British Columbia approving the plan of arrangement (the “Arrangement”) with IM Cannabis Corp. (“IMC”), pursuant to which, among other things, IMC, through its wholly-owned subsidiary Trichome Financial Corp., will acquire all of the issued and outstanding common shares of MYM (the “MYM Shares”) for consideration of 0.022 of an IMC common share (the “Consideration”) in exchange for each MYM Share held, which was previously announced on April 1, 2021. Receipt of the final order follows approval of the Arrangement by shareholders of MYM (the “MYM Shareholders”) at its special meeting of MYM Shareholders held on July 5, 2021.
Assuming the satisfaction of all conditions, closing of the Arrangement is expected to occur on or about July 9, 2021. Upon the closing of the Arrangement, MYM Shareholders will be entitled to receive the Consideration in exchange for each MYM Share held and the MYM Shares will be delisted from the Canadian Securities Exchange.
Further information about the Arrangement is available in the management information circular dated June 3, 2021 and related proxy materials, which are available on SEDAR under MYM’s issuer profile.
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.
Robin Linden, Chief Marketing Officer
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Disclaimer for Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable securities laws about MYM’s current expectations, estimates and projections about the future, based on certain assumptions made in light of experiences and perceptions of historical trends. Although MYM believes that the expectations represented by such forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Investors should not place undue reliance on forward-looking information, which is inherently uncertain. Actual results may materially differ from the expectations represented in the forward-looking information in this press release.
Forward-looking information is sometimes, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking information in this press release includes, but is not limited to, statements about the closing of the Arrangement and related matters thereto.
Developing forward-looking information involves reliance on many assumptions and considerations of certain risks and uncertainties, some of which are specific to MYM, and others that apply to the industry generally. Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward looking statements contained in this press release, include, but are not limited to, the risk factors included under the heading “Risk Factors” in the annual information form of MYM dated September 26, 2020 and under the heading “Risk Factors” in the MD&A for the three months ended February 28, 2021, both of which are available on sedar.com.