VANCOUVER, British Columbia, Jan. 18, 2018 /PRNewswire/ -- MYM Nutraceuticals Inc., (CSE: MYM) (CSE: MYM.CN) (MYM.CN) ("MYM") is pleased toannounce that Hydro-Quebec extends preferential electricity rates for cannabis producers giving them an advantage of other provinces and making Quebec a very desired place to do business.
In 2013, the corporation put in place a tariff to support the greenhouse industry provided they use photosynthesis lighting. By using natural sunlight, customers using at least 400 kW of power will pay 5.53 ¢/kWh. In comparison, a residential subscriber of Hydro-Québec currently pays 5.82 ¢/kWh for the first 33 kilowatt hours billed. The following kilowatt hours climb up to 8.92 ¢/kWh per unit. This could add up to a substantial savings for MYM in its Greenhouse operations.
This decree also intended that these tariff measures promote "both the small and large greenhouse producers," to ensure that they "will contribute to the goal of reducing greenhouse gas emissions 25 % by 2020," and will "create new jobs in the industry of the greenhouse thus serving to support the economic development of Quebec."
"Once built out, the preferential electricity rates allowed to our greenhouses situated in both Weedon and Laval Quebec represent millions of dollars in savings to our bottom line," said Rob Gietl, CEO of MYM. "This savings is of great benefit to our partner communities, the environment, and our shareholders."
MYM is also exploring other renewable sources of energy including solar and hydro power for both the 1.5 million sqft. greenhouse facility in Quebec and the 1.2 sqft. greenhouse facility in Australia.
About MYM Nutraceuticals Inc.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 sf of production space. MYM is also a partner in a 1.2 million sf production project (Northern Rivers Project) in New South Wales, Australia – www.solarisnutraceuticals.com. Australia is an exciting new market that has recently legalized medicinal cannabis. 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).
ON BEHALF OF THE BOARD
Rob Gietl, CEO MYM Nutraceuticals Inc.www.mymarijuana.ca
Keep up to date with MYM on our social media channels:
Twitter: @MYM_NutraFacebook: @mymcanadaInstagram: @MYM_Nutra
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The company disclaims any intention or obligation to revise or update such statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither the Canadian Securities Exchange (CSE or CNSX Markets), nor its Regulation Services Provider (as that term is defined in policies of the CSE), accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law and may not be offered or sold in the "United States", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.
CONTACT: Investor RelationsTerry Brownemail@example.com
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SOURCE MYM Nutraceuticals Inc.
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