15:34:19 EDT Thu 17 Jun 2021
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Body and Mind Inc
Symbol BAMM
Shares Issued 101,698,593
Close 2021-05-06 C$ 0.52
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Body and Mind completes Ohio production facility

2021-05-06 12:03 ET - News Release

Mr. Michael Mills reports


Body and Mind Inc. has provided an update on construction in Ohio and cultivation operations in Arkansas.

Body and Mind, and NMG Ohio LLC have completed construction of the Ohio production facility and are in the final stages of obtaining local and state permits for operation. The production facility is located next to the Body and Mind dispensary west of Cleveland and the company anticipates producing a wide variety of Body and Mind branded offerings for the Ohio market.

"Our award-winning Body and Mind products have proven success in Nevada and California and we're looking forward to expansion to the Ohio market", stated Michael Mills, chief executive officer of Body and Mind. "We continue to see strong growth in the Ohio market and applaud the recent announcement regarding measured expansion of dispensary licences in the limited licence state. Ohio has a population of roughly 11.5 million and there are currently 52 dispensaries which have received a certificate of operation of 57 provisional dispensary licenses awarded. We intend to apply for new licences as the process opens and continue to advance additional licence applications across other jurisdictions."

Cultivation operations are advancing in Arkansas with Comprehensive Care Group. The cultivation facility was built out in 2020 and the required cultivation equipment has recently been installed. Last month, after receiving approval to begin cultivation operations from the state, seeds were sprouted and plant growth is now under way. "We look forward to increasing the number of plants over time as the state rules allow, and to be able to provide our Body and Mind flower quality to the patients of Arkansas," stated Trip Hoffman, chief operating officer of Body and Mind.

Arkansas is a limited licence medical state with a population of over three million. The state has currently approved 38 dispensaries with a total of 32 dispensaries currently open and six anticipated to open in 2021. In 2020, a ballot initiative was launched to qualify adult-use measures, however, the campaign fell short on signatures stemming from challenges around the COVID-19 pandemic.

The company will be presenting next week at the Canaccord Cannabis Virtual Conference on Tuesday, May 11, 2021.

About Body and Mind Inc.

Body and Mind is an operations-focused multistate operator 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. 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 time and resources on improving operational efficiencies, facility expansions, state licensing opportunities, as well as mergers and acquisitions.

We seek Safe Harbor.

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