Reports Annual Revenue of US$22.8 Million & Highlights Recent Developments
Las Vegas, Nevada and Vancouver, British Columbia–(Newsfile Corp. – November 14, 2023) – Body and Mind Inc. (CSE: BAMM) (OTCQB: BMMJ) (the “Company” or “BaM”), a multi-state operations-focused cannabis company, is pleased to announce financial results for the fiscal year ended July 31, 2023 and to provide shareholders with an operational update. All financial information is provided in U.S. dollars unless otherwise indicated.
FY 2023 Summary & Comparison to FY 2022
Note: Comparative financial information does not include discontinued assets and assets held for sale.
FY 2023 Highlights:
Closed Seaside dispensary transaction
Closed a $3 million unsecured convertible debt financing with Bengal Capital and Mindset Capital, two experienced cannabis-focused funds.
Closed a merger with CraftedPlants NJ, an entity that leases a New Jersey retail location with local cannabis-use approval for a retail location. Currently working on attaining final state licensure in New Jersey.
Bengal Capital partner Josh Rosen appointed to the Company’s Board of Directors.
Opened the Markham, Illinois Body and Mind dispensary.
Exited the Michigan market and sold the Michigan Body and Mind dispensary.
Subsequent to the end of FY 2023:
Closed the sale of the Ohio Body and Mind dispensary.
Initiated the divestment of the Ohio Body