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Body and Mind Inc
Symbol BAMM
Shares Issued 101,698,593
Close 2020-09-09 C$ 0.495
Recent Sedar Documents

Body and Mind closes transfer of Ohio licence

2020-09-09 07:26 ET - News Release

Mr. Michael Mills reports

BODY AND MIND COMPLETES LICENSE TRANSFER FOR OHIO DISPENSARY

Body and Mind Inc.'s wholly owned subsidiary, NMG OH 1 LLC, has now received all approvals and final licence and name transfer from the Ohio Department of Pharmacy for the Clubhouse dispensary located in Elyria, Ohio.

"This second licence transfer in less than a month furthers our strategy of expanding the Body and Mind brand and operational expertise to targeted limited licence markets," stated Michael Mills, chief executive officer of Body and Mind. "We have been operating the Clubhouse since opening in early 2019 and look forward to rebranding as a Body and Mind dispensary and consolidating the Elyria, Ohio, retail operations. The company is continuing with development of the Ohio provisional production licence and a long-term lease, and a local conditional use permit have been secured. We continue to expand our offerings into new states, and we are looking forward to bringing our Body and Mind branded offerings to the Ohio market."

The Clubhouse dispensary opened in February, 2019, and was one of the early dispensaries to open in Ohio shortly after the first legal sales of cannabis in Ohio. The dispensary is located in Elyria, Ohio, roughly 30 minutes west of Cleveland with approximately 1.7 million people who live within 30 miles and approximately 3.28 million who live within 50 miles of the dispensary according to 2010 census data from Censusviewer.

Ohio is the seventh-most populous state with an estimated population over 11.5 million in 2019 according to the U.S. Census Bureau. The Ohio Board of Pharmacy has awarded 57 provisional dispensary licences and, as of Aug. 25, 2020, the Ohio Medical Marijuana Control Program outlines there were 51 dispensaries in receipt of a certificate of operation. In response to the COVID-19 pandemic, the Ohio Board of Pharmacy implemented temporary rules in April, 2020, to allow on-line ordering and curbside pickup, and also simplified the calculations of the amount of product patients could possess during a 90-day window. To limit contact, customers who are registered with the dispensary can order on-line for express pickup and the company is working with local regulators to add curbside pickup to assist customers.

About Body and Mind Inc.

Body and Mind is a debt-free publicly traded company investing in high-quality medical and recreational cannabis cultivation, production and retail. The company's wholly owned Nevada subsidiary was awarded one of the first medical marijuana cultivation licences and holds cultivation and production licences. BaM products include dried flower, edibles, oils and extracts as well as GPEN Gio cartridges. Body and Mind cannabis strains have won numerous awards including the 2019 Las Vegas Weekly Bud Bracket, Las Vegas Hempfest Cup 2016, High Times Top Ten, the NorCal Secret Cup and the Emerald Cup.

Body and Mind continues to expand operations in Nevada, California, Arkansas and Ohio, and is dedicated to increasing shareholder value by focusing resources on improving operational efficiencies, facility expansions, state licensing opportunities as well as mergers and acquisitions.

We seek Safe Harbor.

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