Body and Mind Announces Closing of Markham Illinois Dispensary Transaction

Rhea-AI Summary

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.

Las Vegas, Nevada and Vancouver, British Columbia--(Newsfile Corp. - January 5, 2024) - Body and Mind Inc. (CSE: BAMM) (OTCQB: BMMJ) (the "Company" or "BaM"), a multi-state operations-focused cannabis company, is pleased to announce receipt of final approval from the Illinois Department of Financial and Professional Regulation (IDFPR) regarding ownership of NMG IL4, LLC ("NMG IL4"), a wholly owned subsidiary of BaM. Approval from the IDRPR regarding the ownership change was the final closing condition of the NMG IL4 transaction. The NMG IL4 subsidiary owns the assets of the Markham, Illinois dispensary which was opened in April 2023 and continues to show increasing customer traffic and transactions.

The Markham dispensary is conveniently located near the intersection of Highways I-57, I-294 and I-80 with over 400,000 cars per day passing within a mile of the dispensary. The dispensary is a full-service cannabis dispensary offering a wide range of brands and cannabis offerings including edibles, flower, vaping products, concentrates, capsules, tinctures, topicals and accessories. The new location offers convenient on-line ordering for expedited pickup and customers can order in advance by visiting https://bodyandmind.com/illinois/markhamdispensary/markham-menu/.

About Body and Mind Inc.

BaM is an operations-focused cannabis company with active retail operations in Arkansas, Illinois and California, pending retail operations in New Jersey, and craft cultivation and/or processing operations in Nevada and Arkansas. We work daily to increase our market share through delighting customers while also continuing to hone our operational efficiencies to drive profits. We are primarily guided by the metric of return on investment. Currently, we believe the most significant return on investment projects in front of us are successful retail cannabis store launches in Illinois and New Jersey, which augment our existing retail footprint. We also believe that our team's core operational skillsets will create significant future shareholder value as the cannabis industry matures.

Please visit www.bodyandmind.com for more information.
Instagram: @bodyandmindBaM
Twitter: @bodyandmindBaM

For further information, please contact:

Company Contact:

Michael Mills
CEO
Tel: 800-361-6312
ir@bodyandmind.com

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Safe Harbor Statement
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of activities, variations in the underlying assumptions associated with the estimation of activities, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.

Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-Looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/193276

FAQ

What is the ticker symbol for Body and Mind Inc.?

The ticker symbol for Body and Mind Inc. is CSE: BAMM and OTCQB: BMMJ.

What is the ownership change approval received by Body and Mind Inc. from the Illinois Department of Financial and Professional Regulation?

Body and Mind Inc. received final approval for the ownership of NMG IL4, LLC, a subsidiary that owns the assets of the Markham, Illinois dispensary.

Where is the Markham, Illinois dispensary located and what products does it offer?

The Markham dispensary is located near the intersection of Highways I-57, I-294, and I-80, with over 400,000 cars passing within a mile. It offers a wide range of cannabis products including edibles, flower, vaping products, concentrates, capsules, tinctures, topicals, and accessories.

How can customers order from the Markham, Illinois dispensary?

Customers can conveniently order from the Markham dispensary through online ordering for expedited pickup, available at https://bodyandmind.com/illinois/markhamdispensary/markham-menu/.