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Body and Mind Inc
Symbol BAMM
Shares Issued 101,698,593
Close 2021-08-27 C$ 0.66
Recent Sedar Documents

Body and Mind holder Australis sells 5.1 million shares

2021-08-27 19:42 ET - News Release

Subject: Early Warning News Release Of Australis Capital Inc. Word Document File: '\\doc\emailin\20210827 162846 Attachment Australis - BAM Early Warning News Release (August 2021).docx' LEGAL_36987496.1 LEGAL_36987496.1 LEGAL_36987496.1 EARLY WARNING NEWS RELEASE OF AUSTRALIS CAPITAL INC. LAS VEGAS, NV, August 27, 2021 - Australis Capital Inc. ("Australis"), with an address at Suite 190, 376 East Warm Springs Road, Las Vegas, Nevada, 89119, disposed (the "Disposition") of an aggregate of 5,180,096 common shares (the "Common Shares") of Body and Mind Inc. (the "Company"). The head office of the Company is located at 750 - 1095 West Pender Street, Vancouver BC, V6E 2M6. Transfer of Shares to Toro Pacific Management Inc. Pursuant to a binding letter of intent (the "Agreement") dated August 23, 2021 between Australis and Toro Pacific Management Inc. ("TPMI"), Australis sold 4,000,000 Common Shares to TPMI at a price of $0.30 per Common Share on August 23, 2021 for total consideration of $1,200,000. Pursuant to the Agreement, Australis has also agreed to sell an additional 5,900,000 Common Shares to certain purchasers at a price of $0.30 per Common Share on or prior to September 30, 2021. Sale of Shares Through transactions (the "Transactions") conducted through the facilities of the Canadian Securities Exchange between February 5, 2021 and July 20, 2021, Australis disposed of 1,180,096 Common Shares for aggregate consideration of $607,749.44 at an average price of $0.515 per Common Share. Prior to the Disposition, Australis held 19,286,645 Common Shares and approximately 19.0% of the issued and outstanding Common Shares on an undiluted basis. After the Disposition, Australis holds 14,106,549 Common Shares and approximately 13.9% of the issued and outstanding Common Shares on an undiluted basis. Australis is holding Common Shares of the Issuer for investment purposes. In pursuing such purposes, Australis takes a long-term view of its investment. It reserves the right to formulate other plans or make other proposals, and take such actions with respect to its investment in the Issuer. Depending on market conditions and other factors, Australis may acquire or sell additional securities of the Issuer as Australis may deem appropriate, whether in open market purchases, privately negotiated transactions or otherwise. Australis continues to evaluate numerous potential transactions and in connection therewith may exchange Common Shares for other assets or may sell Common Shares to increase its cash position. Australis may also reconsider and change its plans or proposals relating to the foregoing. This press release is issued pursuant to early warning requirements of National Instrument 62-104 and National Instrument 62-103, which also requires a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will be available under the Company's SEDAR profile at www.sedar.com and may be obtained by contacting Marc Lakmaaker at +1.647.289.6640 or marc.lakmaaker@ausa-corp.com.

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