VANCOUVER, British Columbia, Sept. 26, 2018 /PRNewswire/ -- MYM Nutraceuticals Inc., (MYM.CN) (MYM.CN) ("MYM") is pleased to announce that it has entered into an agreement with Amsterdam-based Dutch Passion Seed Company for the production and distribution of Dutch Passion branded products and seed genetics in Canada. This follows the August announcements of similar agreements between Dutch Passion and MYM for production and distribution of branded products and seed genetics in Australia and Colombia.
Established in 1987, Dutch Passion is the second-oldest European Cannabis seed company and for over 30 years has been a leading innovator of seed genetics. Dutch Passion has developed its own proprietary genetics and owns a seed collection of international cannabis genetics dating back to the 1970s. The company has won more than 50 Cannabis Cups for its high-THC, easy-to-grow varieties. Dutch Passion also invented feminized cannabis seeds in the 1990s and, more recently, helped pioneer the success of high-THC auto-flowering cannabis seeds.
"We are thrilled to be working with Dutch Passion in Australia, Colombia and now Canada. With over 30 years' experience in the development and distribution of cannabis seeds, they are widely recognized as world leaders," said Rob Gietl, CEO of MYM. "As legal production of cannabis has been rapidly increasing worldwide, so has the demand for seed genetics. The Dutch Passion portfolio of seeds will prove to be a very valuable asset to MYM and its shareholders."
Eric Siereveld, CEO of Dutch Passion commented, "There were a lot of options when we were considering working with producers in Canada. We chose to partner with MYM because of their strong network and organization in the global cannabis industry. We are confident that MYM has the best environment to maximize the potential of the genetic products we offer."
Dutch Passion agrees to give MYM exclusive rights in Canada to produce and distribute under the Dutch Passion brand, all products that Dutch Passion sells currently and may sell in the future, including: clones, flowers, pre-rolled joints and other cannabis products. Dutch Passion also agrees to give MYM non-exclusive rights in Canada to produce and/or distribute cannabis seeds under the Dutch Passion brand.
MYM will make Dutch Passion its flagship brand of cannabis seeds for sale in Canada and Dutch Passion will list MYM as an official distributor of products in Canada.
Dutch Passion will allow MYM and its subsidiaries access to all its seed strains for MYM's breeding and production programs and will provide Dutch Passion a 1000 square-metre section in their production facility to co-develop new genetics.
MYM agrees to reproduce bulk seeds of Dutch Passion's proprietary strains for resale to Dutch Passion exclusively, based on advance purchase orders including mutually agreed upon pricing, to be determined. MYM also agrees to produce improved auto-flowering strains for Dutch Passion's catalog. Dutch Passion agrees to purchase seeds from these strains.
About Dutch Passion
Dutch Passion is a Dutch company with over 30 years' experience in the development and distribution of cannabis seeds. Dutch Passion is focused on producing high quality, high-THC cannabis genetics and on providing attentive customer service through its experienced customer service team. Dutch Passion's diverse seed collection of international cannabis genetics dates back to the 1970s, with all varieties having passed strict tests designed to ensure ease of growth, heavy yields and high-quality results. In the 1990s, Dutch Passion invented feminized cannabis seeds and, more recently, helped to pioneer the success of high-THC auto-flowering cannabis seeds. www.dutch-passion.com
About MYM Nutraceuticals Inc.
MYM Nutraceuticals Inc. is an innovative company focused on acquiring Health Canada licenses to produce and sell high-end medicinal cannabis supplements and topical products. MYM is a shareholder in two production projects in Québec that when completed are anticipated to have over 1.5 million square feet of production space. MYM also has interest in two international cannabis production projects in Australia and Colombia. In New South Wales, Australia, the "Northern Rivers Project" is expected to have 1.2 million square feet of cannabis production space. In Medellin, Colombia, MYM and Colombia Organica are planning to build a cannabis production facility in the region. Colombia Organica currently holds a seed-to-sale license for low-THC cannabis, which permits the company to grow, produce and create cannabis derivatives to be commercialized and/or exported. Colombia Organica is in the licensing process for the cultivation and production of high-THC cannabis extracts. 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: (MYM.CN) (MYMMF) (0MY.F) (0MY.F) (0MY.MU) (0MY.SG).
ON BEHALF OF THE BOARD
Rob Gietl, CEO
MYM Nutraceuticals Inc.
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This release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the production and distribution of Dutch Passion branded products in Colombia and Australia, the anticipated access to and commercial value of Dutch Passion's list of seeds and cannabis products, the anticipated combined production space of 1.5 million square feet for the two production projects in Quebec, the anticipated 1.2 million square feet of production space in the Northern Rivers Project, and the building of a cannabis production facility in Colombia. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends," "anticipates," "it is expected," or variations of such words and phrases, or statements that certain actions, events or results "may," "could," "should," or "would" occur. Forward-looking statements are based on certain material assumptions and analyses made by the Company and the opinions and estimates of management as of the date of this press release, including the assumption that the terms and conditions of the agreements with Dutch Passion will be carried out and satisfied as anticipated, that MYM will have access to Dutch Passion's list of seeds and cannabis products and that it will be a commercially valuable asset, that the Northern Rivers Project will be completed as planned, including the construction and operation of 1.2 million square feet of production space, that MYM's projects in Quebec will be completed as planned, with 1.5 million square feet of greenhouse space, and that the cannabis production facility will be successfully built near Medellin, Colombia as anticipated by MYM. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, the risk that the terms and conditions of the agreements with Dutch Passion will not be carried out or satisfied as anticipated, or at all, that MYM will not have access to Dutch Passion's list of seeds and cannabis products due to unforeseen complications or, if it does, that such list of seeds and cannabis products will not be commercially valuable, MYM's Quebec projects will not be successfully built as planned, the Northern Rivers Project will not be successfully built as planned, the cannabis production facility will not be successfully built as planned, and the other risks and uncertainties applicable to the Company's business as set forth in the Company's management discussion and analysis and annual information form and the Company's other disclosure available under the Company's profile at www.sedar.com. There can be no assurance that the transactions contemplated in this news release will complete. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that is incorporated by reference herein, except in accordance with applicable securities laws.