Mr. Michael Mills reports

BODY AND MIND AWARDED STATE APPROVAL FOR NEW JERSEY DISPENSARY

The State of New Jersey Cannabis Regulatory Commission has approved Body and Mind Inc.'s application for an annual Class 5 cannabis retailer licence to operate an adult, personal-use cannabis business in the State of New Jersey.

The state approval combined with local preapproval allows Body and Mind to advance the Lawrenceville, N.J., dispensary which is being developed in an existing 4,100-square-foot building in the Lawrenceville township area north of Trenton, N.J.

"We are excited to receive state approval and look forward to bringing a Body and Mind dispensary to New Jersey," stated Michael Mills, chief executive officer of Body and Mind. "We have been prioritizing what we believe are our highest returning projects and we feel the New Jersey market offers significant growth potential. Our team is motivated to lean into our retail development and operating capabilities to deliver strong performance."

New Jersey (population estimate of 9.2 million) is home to only 48 dispensaries (as of last reporting Sept. 30, 2023) and, according to the New Jersey Cannabis Regulatory Commission, recreational marijuana has generated about $578-million in sales -- and $30-million in sales tax revenue -- in the first three quarters of 2023 combined.

About Body and Mind Inc.

Body and Mind 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 seek Safe Harbor.