MYM NUTRACEUTICALS (OTCMKTS:MYMMF) is wasting no time as the new kid on the block in the Canadian cannabis patch. The company is moving forward very aggressively right now, with recent announcements dealing with financing, construction, permits, and big plans. Investors will want to keep an eye on this one given recent major breakouts in other plays in the same space such as CANOPY GROWTH CORP (OTCMKTS:TWMJF), APHRIA INC (OTCMKTS:APHQF), and AURORA CANNABIS IN (OTCMKTS:ACBFF).
The latest from the company comes in the form of its announcement that the Laval Project is on schedule for completion on December 15th, 2017. MYM will then be submitting confirmation of readiness video and Standard Operating Procedures for Cultivation to Health Canada. This comes just a couple days after the company’s announcement that it has closed the second and final tranche of its non-brokered private placement of 771,000 units at a price of $0.50 per unit for gross proceeds of $385,500 to put this and other projects on sure financial footing.
MYM NUTRACEUTICALS (OTCMKTS:MYMMF) promulgates itself as a company with a primary focus in developing high-end organic medicinal marijuana supplements and topical products. MYM also has an interest in the development of high-density farming facilities and technologies that allow MYM to expand its brand into the global market.
According to company materials, “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 Quebec that when completed will have over 1.5 million sq ft of production space. MYM is also a partner in a 1 million sq ft production project in New South Wales, Australia. Australia is a brand-new market that is just opening up and MYM is a leader there. 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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As noted above, MYMMF is the new face in the Canadian cannabis crowd, with several major projects underway and seemingly strong financing undergirding the company’s activity. Shares of the stock have clearly been discovered by the market, rocketing nearly 90% higher in just the past 4 trading sessions.
The interesting element added to the picture with this stock is that it is expanding internationally, including a lot of push in Canada and now in Australia as well, but is not willing to venture into the US market. Many observers feel the US market is vulnerable given that pot is still listed as a schedule 1 narcotic, with Federal authorities still dead-set against legalizing it. That tough talk could turn into tough action over time.
Hence, those looking to benefit from the global scale of the growing phenomenon in cannabis can diversify their legislative risk by carrying an investment position in this stock.
In parallel with the Laval project noted above, MYM’s mega project “Weedon” reportedly has been progressing rapidly with engineering land studies completed and the Health Canada application is progressing rapidly. “The Weedon processing and packaging, distribution plant design has been completed and final implementation on the greenhouse design of the first phase of 300,000 sqft is close to completion. MYM is currently going through the process to acquire a “Distribution and Dealers Import Export license” application with Health Canada, which will open up worldwide markets for MYM.”
“Demand for cannabis is growing worldwide and with MYM actively investigating all opportunities in each sector of the cannabis industry, it will develop MYM into a complete Global seed to sale company,” said Rob Gietl, Chief Executive Officer. “MYM is working to open up cannabis distribution channels globally to accelerate our growth. Our Weedon project alone has 329 acres to expand production on. As recreational cannabis opens in more markets and as global markets expand, we plan on being ahead of the curve and have supply chains ready.”
Currently trading at a market capitalization of $68.3M, MYMMF has a little over $400K in cash on the books, which compares with about $190K in total current liabilities. The company is pre-revenue at this point. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $MYMMF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $MYMMF, either long or short, and we have not been compensated for this article.