MYM Nutraceuticals Inc. announced 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.

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