MYM Nutraceuticals Inc., (CSE: MYM.CN) (CSE: MYM) (OTCBB: MYMMF) (“MYM Nutraceuticals” or the “Company”) is pleased to announce the incorporation of MYM International Brands Inc. (“MYM International Brands”) to focus on the growing global demand for CBD-rich consumer products.

The passing of the Farm Bill in 2018 allowed for the cultivation of CBD-rich hemp in the United States. Since becoming law, the global demand for CBD-rich consumer products has been increasing at a rapid pace. The Brightfield Group estimates the U.S. CBD product market alone to be worth over $23 billion by 2023. CBD is increasingly being included into a wide variety of consumer product categories including: food and beverage, pharmaceuticals, cosmetics, and health and wellnesss. Expectations of this trend are expected to continue as research evolves and more countries join the ranks of hemp legalization.

“As global cultivators of CBD-rich hemp, we have the expertise and network to expand our business into CBD consumer products,” said Howard Steinberg, CEO of MYM. “Erick Factor is well suited to lead this crtically important initiave of MYM and as such will be the Chairman and CEO of International Brands. Given its importance to the organization, Erick will solely focus his efforts on this initiative and has decided to resign from MYM Nutracueticals Board”.

“Five years ago, I founded MYM Nutraceuticals with the goal of creating a fully integrated, seed to sale, global cannabis company. Now with offices in six countries and growing, we’re in a position to create a new revenue stream with unique brands. To this end, I’m extremely excited to launch MYM International Brands at a time when CBD-rich consumer products are still in their infancy”, said Erick Factor, CEO of MYM International Brands. “The team has a tremendous opportunity ahead of us to become global leaders in a burgeoning new consumer products sector. We’re eager to hit the ground running and confident our new division can add value to MYM shareholders”.

Howard Steinberg, CEO of MYM will take over as Chairman of MYM Nutraceuticals.

SOURCE MYM Nutraceuticals Inc.