MYM Partners to Grow 3,000 Acres of CBD-Rich Hemp on the Navajo Nation

Published: April 10, 2019

MYM Partners to Grow 3,000 Acres of CBD-Rich Hemp on the Navajo Nation

MYM Nutraceuticals Inc. has entered into a memorandum of understanding with Aqueous Sciences of Nevada, a wholly owned subsidiary of One World Ventures Inc., to grow 3,000 acres of hemp on Navajo Nation land located near the four corners area of Colorado, Arizona, Utah and New Mexico, USA.

MYM and Aqueous will incorporate a new company for the purpose of cultivating, extracting, and distributing hemp on 3,000 acres in New Mexico. Aqueous is the sole exclusive agent for the Navajo Nation, managing companies that wish to cultivate hemp on Navajo Nation land. MYM and Aqueous will work on an exclusive basis and will each own 50% of the new company. MYM and Aqueous plan to extend their activities to include extracting, manufacturing and distribution of hemp based products that will comply with Navajo Nation, USDA, FDA and FTC regulations and requirements.

“With the recent passing of the Farm Bill in the US, CBD-rich hemp was removed from the classified drug list, opening the door for farmers to legally grow hemp,” said Howard Steinberg, CEO of MYM. “Our partnership with Aqueous is in keeping with our new strategic plan to become a global leader in the cultivation, extraction and distribution of hemp and CBD in bulk and for use in our own unique branded products.”

MYM and Aqueous will fund the venture with up to an initial amount of $1,000,000 USD for operating and capital costs. Aqueous will provide all labour, site management, and other resources as necessary to operate the business. Aqueous will ensure all regulatory approvals and compliance necessary to successfully cultivate legal hemp plants upon the Navajo Nation.

MYM will provide expertise and support in growing procedure, import/export facilitation, access to its research and development team, and distribution.

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