BODY AND MIND INC - BMMJ STOCK NEWS

Body and Mind (CSE: BAMM, OTC: BMMJ) has announced a delay in filing its annual financial statements for the year ended July 31, 2024. The company missed the November 28, 2024 filing deadline due to incomplete audit procedures. The delay involves pending items including final approval of external accounting memorandum, additional audit procedures, and final internal QC sign-off from the auditor. A management cease trade order has been imposed against the CEO and CFO. The company expects to file the 2024 Annual Financial Filings by December 9, 2024 and is engaging an external accounting consultant to prevent future delays.

Body and Mind (BMMJ) has secured a credit facility agreement with Bengal Catalyst Fund for up to US$2.3 million. The facility bears an 18% annual interest rate with a 5% original issuer discount and a 2-year maturity period. The company has also amended its existing convertible debentures, modifying the interest rate to 15% per annum. CEO Michael Mills highlighted that this financing will support development projects in Illinois and New Jersey, and mentioned a potential US$2.5 million payment expected in early 2025 from a previous Ohio dispensary sale contingency.

Body and Mind Inc. (CSE: BAMM) (OTC Pink: BMMJ) has announced the closing of a previously reported transaction involving the sale of its Ohio processor interests. The company's subsidiary, DEP Nevada, Inc., has sold all interests in NMG OH P1, , which operates the Body and Mind Ohio processor, to LMTB, for a total consideration of US$2 million in cash. This transaction, initially reported on September 6, 2023, has been completed with the cash received in early 2024. The sale price is subject to a working capital adjustment and other customary adjustments.

Body and Mind Inc. (CSE: BAMM, OTCQB: BMMJ) announced its Q3 2024 financial results, showing a revenue increase to $4.41 million from $4.17 million in Q3 2023. Gross profit also rose to $1.96 million from $1.93 million. Despite these gains, the company reported a net operating loss of $1.34 million, slightly higher than the $1.28 million loss in Q3 2023. However, net income improved to a loss of $2.54 million from $3.61 million. For the nine months ending April 30, 2024, revenue was $13.39 million, up from $13.24 million in the same period last year. The net operating loss for this period improved to $3.26 million from $3.83 million. Operational highlights include growth at the Markham, Illinois dispensary, completion of the Lynwood, Illinois dispensary pending final roadworks, and obtaining a New Jersey Annual license for a new dispensary in Lawrenceville.

Body and Mind Inc. (BMMJ) announces financial results for Q2 FY2024, with revenue of $4.4 million and a net loss of $0.2 million. The company divests its Nevada operations for $2 million to focus on Illinois and New Jersey projects. Management aims to improve financial performance and margins.

Body and Mind Inc. (BMMJ) announces updates on its dispensary development schedules and the divestment of cultivation and processing operations in Nevada. The company is progressing with construction projects in Illinois and New Jersey, while divesting its Nevada assets to a third party for $2 million. The divestment is part of the company's strategy to prioritize its operational focus on high-return projects. Additionally, the company plans to issue 2,700,393 shares to Bengal Impact Partners, LLC as partial payment for advisory services provided.

Body and Mind Inc. (BMMJ) has received approval for an Annual Class 5 Cannabis Retailer license to operate in New Jersey, allowing the company to advance its dispensary development in Lawrenceville. With only 48 dispensaries in the state, the New Jersey market offers significant growth potential for the company. CEO Michael Mills expressed excitement about the approval and highlighted the team's motivation to deliver strong performance in the retail sector.

Body and Mind Inc. (CSE: BAMM) (OTCQB: BMMJ) has received final approval from the Illinois Department of Financial and Professional Regulation for the ownership of NMG IL4, LLC, a subsidiary that owns the assets of the Markham, Illinois dispensary. The dispensary, opened in April 2023, is strategically located near major highways and has seen increasing customer traffic and transactions. It offers a wide range of cannabis products and convenient online ordering for expedited pickup.

Body and Mind Inc. (CSE: BAMM) (OTCQB: BMMJ) announced financial results for Q1 FY2024, including a 7% reduction in revenue compared to Q1 FY2023, positive net income of $0.2 million, and improved gross margin of 37.4%. The company also provided operational updates and highlights, such as the sale of the Ohio dispensary and repayment of senior secured debt.