(via TheNewswire)
Vancouver,
The Lender and MYM have agreed to enter into an Amendment to the Loan Agreement (the “Amendment”) to defer all interest payable under the Loan Agreement to be due and payable on the maturity date as defined in the Loan Agreement. As consideration for the Amendment, the Company will issue 1,000,000 purchase warrants (the “Warrants”) to the Lender.
Each Warrant will entitle the holder to purchase one Share (a"Warrant Share")for a period of thirty-six (36) months from the issue date at a price of
As certain insiders participated in the Transaction, it is considered to be a “related party transaction” as defined under Multilateral Instrument 61-101(“MI 61-101”). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities to be distributed in the Transaction in so far as the Transaction involves the insiders, exceeds 25% of the Company’s market capitalization.
The Transaction is subject to the approval of the Canadian Securities Exchange (the“CSE”).
About
MYM is a Canadian cultivator, processor, and distributor of premium cannabis via its two wholly owned subsidiaries –
ON BEHALF OF THE MYM BOARD
www.mym.ca
Investor Relations
investors@mym.ca
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Copyright (c) 2021 TheNewswire - All rights reserved., source