Mr. Michael Mills reports

BODY AND MIND CLOSES OHIO PROCESSOR TRANSACTION

Body and Mind Inc.'s wholly owned subsidiary, DEP Nevada Inc., has closed the previously announced transaction to sell all of its interests in the Body and Mind Ohio processor for total consideration of $2-million (U.S.) in cash, which was received in early 2024.

Transaction details

As previously reported on Sept. 6, 2023, pursuant to the equity purchase agreement with LMTB LLC, DEP agreed to sell all of the issued and outstanding interests, equity or profit interests in NMG OH P1 LLC, which owns and operates the Body and Mind Ohio processor, to the purchaser. The Body and Mind Ohio processor has been sold to the purchaser for a purchase price for the interests of $2-million (U.S.), subject to a working capital adjustment and other customary adjustments.

About Body and Mind Inc.

Body and Mind is an operations-focused cannabis company with active retail operations in Illinois and California and pending retail operations in Illinois and New Jersey. It works daily to increase its market share through delighting customers while also continuing to hone its operational efficiencies to drive profits. It is primarily guided by the metric of return on investment. Currently, it believes the most significant return on investment projects in front of it is successful retail cannabis store launches in Illinois and New Jersey, which augment its existing retail footprint. It also believes that its team's core operational skill sets will create significant future shareholder value as the cannabis industry matures.

We seek Safe Harbor.