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Trichome Financial Corp. (“Trichome” or the Company) is pleased to announce that it has signed a non-binding Indicative Term Sheet for a $5.5 million Senior Secured Term Loan (the “Secured Loan“) to MYM Nutraceuticals Inc. (“MYM”)(CSE:MYM)(OTCBB:MYMMF).  The Secured Loan will be advanced in a first tranche of $3.5 million on closing, and a conditional second tranche of $2.0 million no earlier than two months after closing. Closing of the Secured Loan is subject to MYM receiving a cultivation license from Health Canada for its facility located in Laval, Québec. The proceeds of the Secured Loan will be used by MYM to fund several growth initiatives, including its operations in SaskatchewanNevadaLaval and Colombia.

“We are thoroughly impressed with the level of expertise and sophistication that MYM’s new senior leadership team has displayed as they execute a pivot towards becoming leaders in all aspects of CBD-rich hemp,” said Michael Ruscetta, CEO of Trichome. “The market for our uniquely structured capital solutions to the legal cannabis sector is large and this transaction is another example of Trichome providing flexible and timely growth capital, fully secured against all the assets and licenses of MYM, which we expect will deliver extremely attractive returns.”

Secured Loan Details

The term of the Secured Loan is 12 months from the date of closing, and Trichome will have an option to extend the term by an additional 6 months. Interest will be paid monthly in cash at a rate of 12.0% per annum, and Trichome will also receive up to 5,000,000 warrants to purchase common shares of MYM as additional consideration.

The Secured Loan is secured by a first lien on MYM’s current and future tangible and intangible assets, with some exceptions. Entry into the Secured Loan is conditional upon receipt by MYM of a cultivation license from Health Canada for its facility in Laval, Québec, approval of the TSX Venture Exchange, and other conditions.

Howard Steinberg, CEO and director of MYM, is also a director of Trichome and as such has recused himself from Trichome’s board on this matter.


SOURCE Trichome Financial Corp.