Mr. Michael Mills of Body and Mind reports
BODY AND MIND INC. COMPLETES FINANCING WITH AUSTRALIS CAPITAL INC.
Body and Mind Inc. has closed the previously announced sale of securities with Australis Capital Inc. Australis purchased 1,768,545 common shares at a price of 58.5 cents per common share for an aggregate purchase price of $777,894 (U.S.).
"The financing support from Australis and transaction to acquire 100-per-cent ownership of NMG Ohio LLC will allow BaM to consolidate revenue from our Ohio operations and increase our multistate influence," stated Robert Hasman, director of the company. "We are on target for opening the Clubhouse dispensary in Elyria, Ohio, with our final inspection anticipated on or around Feb. 12, 2019, and an opening date scheduled for on or around Feb. 22, 2019."
About Body and Mind Inc.
Body and Mind is a 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, topicals and extracts, as well as GPEN Gio cartridges. Body and Mind marijuana strains have won numerous awards, including the 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, Ohio and its investment in California, and is dedicated to increasing shareholder value by focusing time and resources on improving operational efficiencies, facility expansions and state licensing opportunities, as well as mergers and acquisitions.
About Australis Capital Inc.
Australis Capital identifies and invests in the cannabis industry predominantly in the United States, a highly regulated, fragmented, rapidly expanding and evolving industry. Australis Capital's board and management team have material experience with, and knowledge of, the cannabis space in the United States, extensive backgrounds in highly regulated industries, adherence to stringent regulatory compliance, public company, and operational expertise. In addition to the company's expertise and strong execution on strategic mergers and acquisitions, which, to date, include Rthm Technologies Inc., Body and Mind, Quality Green Inc. and Folium Biosciences Inc., Australis has developed strategic partnerships with companies such as Wagner Dimas.
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