Body & Mind INC

Body and Mind Inc. has agreed to sell its New Jersey cannabis dispensary subsidiary, BaM Body and Mind Dispensary NJ, Inc., to Ascend New Jersey, LLC and a social equity partner for a total cash consideration of $2.0 million.

Body and Mind Inc. has agreed to sell its majority interest in NMG San Diego, LLC, which operates the Body and Mind San Diego dispensary, for $1.6 million.

Body and Mind Inc. has provided updates on two significant asset dispositions, including a secured promissory note for an advance payment and a delayed, contingent promissory note tied to an ongoing tax dispute.

Body and Mind Inc. has agreed to sell its Long Beach dispensary, NMG Long Beach, LLC, to SGC Retail Partners, LLC for $856,250.

Body and Mind Inc. amends its credit facility with Bengal Catalyst Fund, increasing the interest rate and allowing for a revolving credit balance, while also announcing the grand opening of its Lynwood, Illinois dispensary.

Body and Mind Inc. announces it will restate previously issued financial statements for Q2 and Q3 2024 due to errors related to a variable interest entity and management fee income.

Body and Mind Inc. reports a slight increase in revenue for the third quarter of 2024, while navigating strategic asset sales and ongoing legal challenges.

Body and Mind Inc. reports a net loss for Q2 2024, but shows improved gross margins and strategic divestments of assets.