Planting of 3,320,000 CBD-Rich Hemp Seeds Completed at the Saskatchewan Project

Published: July 10, 2019

MYM Nutraceuticals Inc. announced its joint venture company (MYM owns 50%), BioHemp Naturals Growing & Farming Ltd., has completed planting for the 2019 growing season. 3.32 million CBD-rich hemp seeds have been planted on 400-acres and are now sprouting on the two farms located in Saskatchewan.

In addition to tending to the 400-acres of CBD-rich hemp now growing in the fields of Saskatchewan, the team will focus on assembling a state-of-the-art, on-site drying facility capable of quick-drying 6,000 lbs of CBD-rich hemp biomass per hour. The industrial sized dryers provide a continuous harvesting method that can process field harvested biomass into dry material and ship the same day. This SOP method ensures compliance with all microbial testing required by Health Canada.

“BioHemp has successfully planted 3.32 million seeds at the Saskatchewan project that have now begun to sprout,” said Howard Steinberg, CEO of MYM. “The Saskatchewan project is a key component in our strategy to create a massive CBD-rich hemp footprint around the globe with the goal of becoming one of the largest cultivators and bulk CBD isolate suppliers in the world.”

Based on previous crops grown on the property, the total estimated production is 675,000 lbs of CBD-rich hemp. Further to the announcement dated May 2, 2019, in exchange for 50% of BioHemp Naturals, MYM will pay a total of $2.5 million cash (in two tranches) and 6,000,000 common shares in the capital of MYM.