Mr. Michael Mills reports

BODY AND MIND PROVIDES CORPORATE UPDATE

Body and Mind Inc. has closed the New Jersey equity interest transaction, which it had previously disclosed in a news release dated Aug. 27, 2025.

As per prior disclosure, the company's wholly owned subsidiary, DEP Nevada Inc., entered into a purchase agreement with Ascend New Jersey LLC, whereby DEP, which owned 100 per cent of Body and Mind Dispensary NJ Inc. agreed to sell all of the equity interests in BAM NJ to the purchaser and a social equity partner, which resulted in the purchaser owning 35 per cent of BAM NJ and the purchaser's social equity partner owning 65 per cent of BAM NJ. The purchaser put $1-million into escrow pending satisfaction or waiver of certain postclosing conditions. The parties agreed to waive the postclosing conditions precedent to the release of the $1-million escrow funds, and, accordingly, the $1-million cash in escrow was released to DEP.

We seek Safe Harbor.