Body and Mind Closes Ohio Processor Transaction
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) (OTC Pink: BMMJ) ha annunciato la chiusura di una transazione precedentemente riportata riguardante la vendita dei suoi interessi nel processore dell'Ohio. La filiale dell'azienda, DEP Nevada, Inc., ha venduto tutti gli interessi in NMG OH P1, che gestisce il processore Body and Mind Ohio, a LMTB, per un importo totale di 2 milioni di dollari in contante. Questa transazione, inizialmente riportata il 6 settembre 2023, è stata completata con il denaro ricevuto all'inizio del 2024. Il prezzo di vendita è soggetto a un aggiustamento del capitale circolante e ad altri aggiustamenti consueti.
Body and Mind Inc. (CSE: BAMM) (OTC Pink: BMMJ) ha anunciado el cierre de una transacción previamente informada que involucra la venta de sus intereses en el procesador de Ohio. La subsidiaria de la compañía, DEP Nevada, Inc., ha vendido todos los intereses en NMG OH P1, que opera el procesador Body and Mind Ohio, a LMTB, por una consideración total de 2 millones de dólares en efectivo. Esta transacción, inicialmente reportada el 6 de septiembre de 2023, se ha completado con el dinero recibido a principios de 2024. El precio de venta está sujeto a un ajuste de capital de trabajo y otros ajustes habituales.
Body and Mind Inc. (CSE: BAMM) (OTC Pink: BMMJ)는 이전에 보고된 거래의 종료를 발표했습니다. 이는 오하이오 프로세서에 대한 판매와 관련이 있습니다. 회사의 자회사인 DEP Nevada, Inc.는 Body and Mind Ohio 프로세서를 운영하는 NMG OH P1의 모든 지분을 LMTB에 200만 달러 현금에 판매했습니다. 이 거래는 2023년 9월 6일에 처음 보고되었으며, 2024년 초에 현금이 수령되면서 완료되었습니다. 판매 가격은 운영 자본 조정 및 기타 일반적인 조정에 따라 변동될 수 있습니다.
Body and Mind Inc. (CSE: BAMM) (OTC Pink: BMMJ) a annoncé la clôture d'une transaction précédemment signalée concernant la vente de ses intérêts dans le processeur de l'Ohio. La filiale de l'entreprise, DEP Nevada, Inc., a vendu tous ses intérêts dans NMG OH P1, qui gère le processeur Body and Mind Ohio, à LMTB, pour une consideration totale de 2 millions de dollars en espèces. Cette transaction, initialement rapportée le 6 septembre 2023, a été finalisée avec les fonds reçus au début de 2024. Le prix de vente est soumis à un ajustement du fonds de roulement et à d'autres ajustements habituels.
Body and Mind Inc. (CSE: BAMM) (OTC Pink: BMMJ) hat den Abschluss einer zuvor berichteten Transaktion bekannt gegeben, die den Verkauf seiner Ohio-Verarbeitungsrechte betrifft. Die Tochtergesellschaft des Unternehmens, DEP Nevada, Inc., hat alle Anteile an NMG OH P1, das den Body and Mind Ohio-Verarbeiter betreibt, an LMTB verkauft, und zwar für insgesamt 2 Millionen US-Dollar in bar. Diese Transaktion, die am 6. September 2023 zunächst gemeldet wurde, wurde mit dem zu Beginn des Jahres 2024 erhaltenen Bargeld abgeschlossen. Der Verkaufspreis unterliegt einer Anpassung des Betriebskapitals und anderen üblichen Anpassungen.
- Received US$2 million in cash from the sale of Ohio processor interests
- Successfully closed a previously announced transaction
- Divestment of an operational asset in the Ohio market
Las Vegas, Nevada and Vancouver, British Columbia--(Newsfile Corp. - September 4, 2024) - Body and Mind Inc. (CSE: BAMM) (OTC Pink: BMMJ) (the "Company" or "BaM"), a multi-state operations-focused cannabis company, is pleased to announce that the Company's wholly owned subsidiary, DEP Nevada, Inc. ("DEP") has closed the previously announced transaction to sell all of its interests in the Body and Mind Ohio processor for total consideration of US
Transaction Details
As previously reported on September 6, 2023, pursuant to the equity purchase agreement with LMTB, LLC (the "Purchaser"), DEP agreed to sell all of the issued and outstanding interests, equity, or profit interests (the "Interests") in NMG OH P1, LLC ("NMG OH P1"), which owns and operates the Body and Mind Ohio processor, to the Purchaser. The Body and Mind Ohio processor has now been sold to the Purchaser for a purchase price for the Interests of US
About Body and Mind Inc.
BaM is an operations-focused cannabis company with active retail operations in Illinois and California, and pending retail operations in Illinois and New Jersey. 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/222091
FAQ
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