Today will be the first time we’ve mentioned MYM NUTRACEUTICALS (OTCMKTS:MYMMF) here on Street Register, where, as our regular readers know full well, we are crazy about the Canadian Cannabis sector. Firstly there are quite a few very well put-together companies in Canada, but more importantly, it represents a market space that is set to absolutely explode in 2018, when marijuana prohibition will come to an end in July of the coming year.
MYM is focused on acquiring Health Canada licenses to produce and sell high-end organic medicinal cannabis supplements and topical products, but we would not be surprised at all if the company were to find some way to capitalize on the legal recreational aspects of the sector when the time comes, especially with the massive amount of growing space the company is working on getting involved with.
MYM NUTRACEUTICALS (OTCMKTS:MYMMF) has two production projects in Quebec that when completed will have over 1.5 million sqft 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.
At the end of last week, MYM announced that its ‘Laval Project’ is on schedule for completion barely a month away, on December 15th, 2017. MYM will then will be submitting on confirmation of readiness video and Standard Operating Procedures for Cultivation to Health Canada.
All underground plumbing is complete, HVAC installation is underway and next week the storage vault will be completed. All the walls of the production rooms are insulated and have the bullet proof windows installed. MYM has completed the grow equipment purchase order and was able to cut the projected costs in half. Grow equipment will arrive in 10 days to be installed.
In parallel, MYM’s mega project “Weedon” 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.” (Source: PR Newswire)
So while it appears that MYMMF is merely a beginning stage entity, the company definitely seems to be poised to accelerate from the planning and building stage to the production stage rather quickly. That;s going to be a story that we’re very eager to follow on an ongoing basis, as we add MYMMF to our ever expanding list of Canadian pot plays. Keep it locked to Street Register for updates, and we’ll deliver those important developments on MYMMF to you as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in MYMMF stock, short or long.