MYM NUTRACEUTICALS COM NPV (OTCMKTS:MYMMF) Making BIG Moves

With the cannabis industry growing at the rate that it is, companies continue to develop new products and cannabis cultivation related technologies. Cannabis related companies are also making significant adjustments and acquisitions in an effort to gain a competitive advantage early in the growth stages of the emerging cannabis industry. MYM NUTRACEUTICALS COM NPV (OTCMKTS:MYMMF) has recently taken some very important steps towards this end. The company is developing high-end organic medicinal cannabis 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.On April 28, 2017 MYM Nutraceuticals Inc, announced that the Board of Directors unanimously voted to appoint Rob Gietl as its new Chief Executive Officer. Mr. Gietl is replacing current CEO, John Fiteni, who will now be director of Production Operations and Product Development, in which he has very specialized experience.Mr. Gietl is a seasoned Business Development and Operations executive with a diverse track record of leading change across all areas of concept creation, brand repositioning, market penetration, fiscal accountability and efficient execution of business plans. He has grown business effectiveness in an array of sectors and circumstances throughout Canada, consistently aligned with stakeholders goals and values.On the acquisition front, MYM Nutraceuticals Inc has recently made two key acquisitions. On April 11, 2017 the Company announced that it completed its acquisition of 100% of the brand and assets of "HempMed," a Toronto-based developer and marketer of hemp-based CBD extracts and oil infused nutraceutical products. The fast growing HempMed brand is expected to do sales in excess of $1,400,000 in the next 12 months. MYM has plans to build a new high-capacity production facility for HempMed that will increase its sales capacity to handle more than $10,000,000 per year. Further, MYM will open new markets and build an effective online retail strategy for the already popular HempMed brand.The current HempMed product line currently consists of over 20 Hemp products and plans to launch several more groundbreaking products over the next 12 months as a direct result of the transaction. MYM plans on expanding HempMed's existing distribution network, which consists of over 60 retail outlets and online sales portals across Canada, the USA, and Internationally. HempMed has developed proprietary technology that allows their CBD products to be not only very effective but of the highest quality and consistency.On June 23, 2016, MYM Nutraceuticals Inc announced that it acquired the brand 'Joshua Tree'. MYM has also filed trademark applications in the USA and Canada for Joshua Tree and plans to completely re-brand MYM-owned CBD brand 'HempMed'. The new Joshua Tree product line will be launched this year in Canada, USA and Europe and will include up to 5 new innovative CBD products. Rob Gietl, newly appointed CEO of MYM commented:

"This is the first step in our international expansion of our CBD products. Our unique and effective formulations are the best in breed and our rapid sales growth demonstrate the vast consumer demand for our products."

In addition to the recent acquisitions, on June 20, 2017, MYM Nutraceuticals Inc announced that it signed an exclusive deal with the Municipality of Weedon, Québec to build a 1.5 million-square-foot cannabis production facility consisting of fifteen 100,000-square-foot greenhouses. Once the entire project is completed and licensed, it would be one of the largest growing operations in the world, with the potential to produce over 150,000 kilograms of cannabis per year or $750,000,000 annually. This is a first-of-its-kind partnership where a municipality has partnered with a cannabis company to build a major production facility. The agreement is unique as Weedon will purchase the 329 acres of land for MYM to build the project on.

MYMMF stock has been trading on a strong upward move since it started trading on the on the OTCQB® Venture Market on April 12, 2017. It went from $.2009 to a high of $.6018 on June 26, 2017. The stock is currently trading at $.4710. Current market capitalization stands at $31.72 million, on 67.48 million shares outstanding as of July 7, 2017.MYM Nutraceuticals Inc is in an emerging industry in which growth is inevitable over the next few years. The Company seems to have a sound strategy, however, its financial reports are not very appealing. They show a history of little to no revenue, cash, and assets. The Company will need to shore up its financials, and start generating revenues in order to keep the momentum going. We will be updating our subscribers as soon as we know more. For the latest updates on MYMMF, sign up below!Image courtesy of adilette via FlickrDisclosure: We have no position in MYMMF and have not been compensated for this article.