An anonymous director reports
BODY AND MIND CORRECTS PRIOR NEWS RELEASE ON NMG OHIO TRANSACTION
Body and Mind Inc. has corrected the disclosure in its prior news release dated Oct. 22, 2020, whereby the company reported the closing of the acquisition of the remaining 70-per-cent interest in NMG Ohio LLC. The transfer of the dispensary licence for the Clubhouse dispensary in Elyria, Ohio, to the company's wholly owned subsidiary, NMG OH LLC, has been completed, as approved by the Ohio Board of Pharmacy, and the company has paid all of the required consideration to the members of NMG Ohio, in order to acquire the remaining 70-per-cent interest in NMG Ohio as previously disclosed in the Oct. 22, 2020, news release; however, the transfer of the remaining 70-per-cent interest in NMG Ohio to Nevada Medical Group LLC will not occur until all of the closing conditions under the membership interest purchase agreement, dated Jan. 31, 2019, have been satisfied. Therefore, the ownership of NMG Ohio remains unchanged and NMG Nevada owns 30 per cent of NMG Ohio.
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. Its wholly owned Nevada subsidiary was awarded one of the first medical marijuana cultivation licences and holds cultivation and production licences. Body and Mind products include dried flower, edibles, oils and extracts as well as GPEN Gio cartridges. The company's 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.
The company 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.
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