Highland Grow Inc., an auxiliary of Mym Nutraceuticals Inc (OTCMKTS:MYMMF), announced the Nunavut Government’s receipt of authorization to supply its cannabis products.
Access to High Growth cannabis products
CEO of Mym, Michael Wiener, said the company is excited to work with the Nunavut government. The company will supply Coast Connection branded and Highland Grow branded cannabis products across Nunavut.
It is the 12th territory/ province for Mym and shows its commitment to delivering premium quality cannabis products to Canada’s population.
Reports 303% growth
Mym posted revenues of $4.1 million (up 303% QoQ) in Q2 2021. The company introduced new SKUs in Coast Connection and Highland Growth brands during the quarter. Michael said it is the result of the hard work and dedication of its teams.
Mym is a leading player in craft value and ultra-premium segments in Atlantic Canada. The company is putting in significant efforts in replicating the success in other areas of the nation.
Signs an accord with OCS
Highland Grow, a licensed cannabis manufacturer, signed a supply accord with OCS (Ontario Cannabis Store). As per the deal’s terms, the company will supply Highland Grow branded products across Ontario province.
It will initially provide Gaelic Fire and White Lightning, the two cultivars, in 3.5 g formats. Michael said the company achieved another milestone by entering the Ontario market. Ontario is the fastest growing and largest market in Canada.
With the entry into Ontario, Highland Grow now serves its products in 11 territories and provinces across Canada like New Brunswick, Saskatchewan, Labrador, Northwest Territories, Alberta, Prince Edward Island, Newfoundland, Nova Scotia, Manitoba, and Yukon.
Expands Loan Facility
Mym expanded its loan size from $4 million to $5 million to close other debt and support Ontario expansion with no change in terms and conditions. It is a related party transaction. The total loan availed as of today is $4.5 million.
Highland Grow inked a supply accord with YLC (Yukon Liquor Corporation) to provide its cannabis products across Yukon. It is the 10th territorial/ provincial agreement. Michael said the company is excited about its continued growth in Canada. Highland Grow will supply its pre-rolls and flower under the Coastal Connection brand.
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