MYM Continues to Secure Additional Support for Merger with IMCC

April 19, 2021 at 08:30 AM EDT

Total voting support agreements for the Transaction now represent 44.4%, or 162.7 million, of the total votes outstanding including all senior management and board members
Shareholders to benefit from a global platform of premium and super premium brands and distribution through Canada, Israel and Europe
The Transaction has been approved by an MYM Special Committee of Independent Directors

Vancouver, British Columbia--(Newsfile Corp. - April 19, 2021) - MYM Nutraceuticals Inc. (CSE: MYM) (OTCQB: MYMMF) ("MYM" or the "Company"), is pleased to announce that it has received additional voting support agreements in connection with the proposed merger with IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) ("IMCC") which was announced on April 1, 2021 (the "Transaction"). The total of voting support agreements for the Transaction has grown to 44.4% of all votes, or 162.7 million shares, an increase from 41.7% on April 1,^,2021. A total of 66 & 2/3^rds of all common and exchangeable shares voted is required to approve the Transaction as well as a majority of the minority vote in accordance with Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions.

The Transaction was evaluated and recommended by an independent committee of directors of MYM (the "Special Committee"), who received independent financial and legal advice. In the arrangement agreement entered into in connection with the Transaction, the MYM board has agreed with IMCC to include a recommendation in the circular to be mailed that MYM shareholders vote in favour of the Transaction.

Benefits of the Transaction to MYM shareholders:

Accessing underserved premium markets globally: The premium segment of the cannabis industry is growing rapidly across global adult-use and medical markets. The Transaction serves to broaden the distribution of the Company's products both domestically and internationally, and is expected to result in significant synergies, economies of scale and margin expansion.
Expanded premium product portfolio: The Highland Grow ultra-premium brand is a natural compliment to the Wagners premium brand. A broader premium product portfolio is expected to accelerate market share gains in Canada and internationally.
Diversified cultivation footprint: A larger and more diversified cultivation platform includes an incremental 7,000 kilograms of annual indoor, premium capacity at the Manitou facility in Ontario, with concurrent increases to genetic offerings, a bolstered supply chain, and expected reduction of risks associated with MYM's current operations.
Proven management team: IMCC's management team brings considerable expertise and success in the global cannabis industry, marketing, finance, operations and cultivation. Together with MYM's management team, the combined company will be able to harness an extensive operating platform for the benefit of all shareholders.
Enhanced growth opportunities: As part of a much larger and international organization listed on the NASDAQ Capital Market, shareholders are expected to benefit from a potentially lower cost of growth capital, creating opportunities to capitalize on both organic and acquisition opportunities.
Stronger combined balance sheet: As part of the Transaction, MYM will have $5.4 million in secured debt retired, and the combined company will be substantially debt free and properly capitalized to pursue growth opportunities.
Alignment of IMCC management and MYM shareholders: Upon closing of the Transaction, IMCC management and directors will own approximately 33% of the combined company, with MYM shareholders owning 14.5%. MYM shareholders now have the opportunity to participate in a global growth platform fully aligned with IMCC's management and directors.

Corporate Presentation

The most recent corporate presentation on the Transaction can be found here and on MYM's website at www.mym.ca.

Further details with respect to the Transaction will be included in the information circular to be mailed to MYM shareholders in connection with the MYM Meeting in May 2021 and will also be posted online. A copy of the Arrangement Agreement has been filed on IMCC and MYM's SEDAR profiles and is available for viewing at www.sedar.com.

Management Commentary

"Since the restructuring of MYM in 2019 and the acquisition of Highland Grow in 2020, our team has executed a successful strategy of turning MYM into a growing revenue producing entity. This Transaction is the next logical step in delivering value to MYM shareholders," said Michael Wiener, Chief Executive Officer. "To realize MYM's full long-term potential, it is imperative that we diversify the Company's cultivation footprint, leverage additional expertise at the management and operational levels, and reduce financial constraints to growth. I appreciate the strong support we have received from shareholders so far and I know I speak on behalf of our entire team - all of whom are shareholders and will be joining IMCC - when I say that this Transaction is only the beginning of what we expect will be an exciting and valuable journey together."

Robin Linden, MYM Director, added, "The new leadership at MYM has completed an impressive turnaround of a company that only twelve months ago had limited financial resources and no established operations. This is the perfect time for shareholders to both realize the value created to this point and participate in the consolidation phase of the global cannabis industry."

About MYM Nutraceuticals Inc.

MYM is a Canadian cultivator, processor, and distributor of premium cannabis via its two wholly owned subsidiaries - SublimeCulture Inc., in Laval, QC and Highland Grow Inc., in Antigonish, NS.

MYM shares trade in Canada, Germany and the United States under the following symbols: (CSE: MYM) (OTCQB: MYMMF) (FSE: 0MY) (DEU: 0MY) (MUN: 0MY) (STU: 0MY).

ON BEHALF OF THE MYM BOARD
Michael Wiener, CEO
MYM Nutraceuticals Inc.
www.mym.ca

Investor Relations
Toll-free: (800) 232-0316
Email: inquiries@dfking.com

Keep up to date with MYM on our social media channels:

Twitter: https://twitter.com/mymnutra
Facebook: https://www.facebook.com/mymnutra
Instagram: https://www.instagram.com/mym.ca/
Linkedin: https://www.linkedin.com/company/mymnutra/

Disclaimer for Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable securities laws about MYM's current expectations, estimates and projections about the future, based on certain assumptions made in light of experiences and perceptions of historical trends. Although MYM believes that the expectations represented by such forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Investors should not place undue reliance on forward-looking information, which is inherently uncertain. Actual results may materially differ from the expectations represented in the forward-looking information in this press release.

Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "likely" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking information in this press release includes statements about the benefits of the Transaction, including statements about anticipated market access and distribution, synergies, economies of scale and increased profit margins following the Transaction, future market share gains, future production capacity, increases in genetic offerings, supply chain improvements and operation risk reductions, management performance, cost of capital and liquidity for shareholders, balance sheet improvements, and growth of the combined company.

Developing forward-looking information involves reliance on many assumptions and considerations of certain risks and uncertainties, some of which are specific to MYM, and others that apply to the industry generally. Those assumptions include, but are not limited to, assumptions about the Canadian and international cannabis markets, assumptions about the capital markets, and assumptions about the successful integration of MYM and IMCC.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80794

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MYM Continues to Secure Additional Support for Merger with IMCC

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