News in Brief
Canadian cannabis company takes aim at CBD markets
Another nascent company in the cannabis business, MYM Nutraceuticals Inc., is raising capital for a run at the CBD markets. The company recently raised $8 million in a private placement.
MYM says private placement consists of ‘units’ that combine one common share and a warrant for the acquisition of one additional share. The company has up to now been focused on acquiring medical cannabis licenses in Canada, Australia and other markets. It says it has two greenhouse facilities in Quebec and is partnering in another production facility in New South Wales in Australia. In addition, it lists an extraction lab in Toronto.
MYM said it will use the capital infusion to “[E]nsure 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.”
