MYM Nutraceuticals Inc. announced it has signed a Memorandum of Understanding with NEWCANNA S.A.S. MYM and NEWCANNA are proposing a joint venture or partnership agreement in which they would form a new, jointly owned company in Colombia. This partnership would focus on the large-scale commercial cultivation and transformation of cannabis and hemp for medical, scientific and industrial purposes and export to worldwide markets. NEWCANNA has agreements in place with multiple indigenous communities in Colombia totaling over 400 families (approx. 1,400 people) that control 7,400 acres of cultivation property. In 2018 the indigenous growers have the capacity to be producing approximately 217,500 kg of high-grade cannabis for processing and export worldwide. With planned production expansion with the indigenous growers, NEWCANNA's production is expected to be over 1,000,000 kg of cannabis in year two. The high mountains of Colombia provide a perfect climate to cultivate cannabis and allow production costs to be a fraction of what it costs to produce in Canada. Under the MOU, NEWCANNA will supply the land, the work force, and all the applicable licenses needed for the new company to move forward and operate legally under the newly established laws in Colombia. The new company will have the opportunity to become part of the NEWCANNA HUB, a group of unique companies dedicated to the research, education and sustainability for the commercial future of cannabis in Colombia. The members and alliances of the HUB come from a wide variety of backgrounds surrounding the legalities of cultivation, production, transformation, and the ongoing studies of cannabis, cannabinoids, and the endocannabinoid system in humans and animals.