MYM Nutraceuticals (CSE: MYM.CN) (OTCBB: MYMMF) said it incorporated MYM Nutraceuticals Mexico S.A. de C.V. as the company has confidence in future Mexican legislation to regulate the cannabis industry.
The company is preparing to become a first-mover in the industry in Mexico by planning to focus on the importation and distribution of hemp derived CBD products. The expected changes in cannabis legislation will make cannabis products like hemp-derived CBD available on the shelves of general retailers across the nation.
MYM has named Joaquin Araico as its director of business development and local operations for Mexico. He has over 35 years of experience in management, finance and politics, particularly in various levels of government and strategic areas in Mexico. He will oversee the daily operations of MYM Mexico and its entry into the CBD and cannabis market within the country. In addition, the company has picked Hector Ernesto Espino as legal representation for MYM Mexico.
“In keeping with our Strategic Plan previously outlined, we’re excited to add another building block by incorporating MYM Mexico and establishing an office in Mexico,” MYM CEO Howard Steinberg stated.
“The Mexican government is currently considering significant cannabis reform at a national level. MYM aims to be at the forefront of this movement by positioning the company to be a key player in the importation and distribution of CBD-rich hemp products,” Steinberg added.