Body and Mind, Inc.

(CSE:BAMM.CN) (OTCPK:BMMJ)

Get Top Rated Stock Alerts Active Traders Depend On

Sign Up Today For FREE News Driven Alerts

Body and Mind Inc. Reports Premium Flower Test Over 30 % THC

VANCOUVER, B.C., CANADA (November 20, 2018) – Body and Mind Inc. (CSE: BAMM, US OTC: BMMJ) (the “Company” or “BaM”) is pleased to report record testing results from the most recent harvest in Nevada.

 

The company has received testing results from NVCAN Laboratory detailing THC content of the recently harvested Hardcore OG strain at 30.5 % THC.

 

“Body and Mind has been recognized as a premium quality cultivator since we started growing and producing medical cannabis roughly 4 years ago,” stated Robert Hasman, a director at BaM. ”Our dried flower strains typically achieve testing in the mid twenty per cent THC range and contains strong terpene profiles. While THC is only one measure of cannabis quality, this achievement has received very positive feedback from dispensaries and customers. This record result is an indication of our deep experience combined and efficiencies from our completed Phase II renovation.”

 

The company completed Phase II renovation to improve efficiency and increase cultivation space in early 2018. The first harvest from the increased Phase II space has been completed and will be sold in November. The  company has completed the transition to a perpetual harvest system which produces dried flower on a consistent basis and reduces costs throughout the cultivation process.

 

Body and Mind edibles continue to be popular items and the company has increased the product offerings based on feedback from buyers and customers. Infused pretzel bites with caramel and chocolate are one of the more popular edibles and additional options including peppermint and white chocolate will be available shortly. Body and Mind will be relaunching the popular infused beef jerky edibles with flavours with a choice of Teriyaki and Siracha flavors.  The company has commenced manufacturing LucidMood pens and is in the process of finalizing the production process. Sales of LucidMood vape pens are anticipated throughout Nevada in early December.

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For further information, please contact:

 

Michael Mills 778-389-0007

mmills@bamcannabis.com

 

About Body and Mind Inc.

BaM is a publicly traded company investing in high quality medical and recreational cannabis cultivation and production and retail. Our wholly-owned Nevada subsidiary was awarded one of the first medical marijuana cultivation licences and holds cultivation and production licenses in Nevada and partial ownership of a production and dispensary license in Ohio. BaM products include dried flower, edibles, topicals, extracts as well as GPEN Gio cartridges. BaM 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 and Ohio and is constantly reviewing accretive expansion opportunities.

 

 

Safe Harbor Statement

 

Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of activities, variations in the underlying assumptions associated with the estimation of activities, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.

 

Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

 

Source:  Body and Mind Inc.

Body and Mind Inc. Strengthens Management Team with Veteran Cannabis Industry Appointment

VANCOUVER, B.C., CANADA (November 15, 2018) – Body and Mind Inc. (CSE: BAMM, US OTC: BMMJ) (the “Company” or “BaM”) is pleased to announce the appointment of Mr. Trip Hoffman to the position of Chief Operating Officer of Body and Mind Inc. as the Company continues expansion and assesses additional accretive opportunities.

 

“Trip brings significant operational, financial, agricultural and cannabis experience which will be invaluable as we grow Body and Mind to the next level”, stated Robert Hasman, director at Body and Mind. “Trip’s experience running Colorado cultivation facilities and dispensary operations will immediately benefit our operations as we expand the premium Body and Mind brand.”

 

Mr. Hoffman is currently the co-owner of a Colorado licensed marijuana cultivation facility and was previously the CEO of a Colorado licensed cultivation and dispensary company.  As an operations-efficiency specialist in the cannabis space, Mr. Hoffman has significantly improved the bottom lines of several cannabis businesses through reducing expenses, increasing production and improving product quality to the highest standards.  Mr. Hoffman has also worked as a consultant in the cannabis industry for numerous years, focusing on work-flow, facility optimization, and new business development.

 

Prior to the cannabis space, Mr Hoffman spent more than 20 years in the Financial Technology & Services industry in roles ranging from CEO, Risk Manager, to Market Maker.  Mr. Hoffman has also been involved as a co-founder in more than a half-dozen startups throughout his career.  He holds a PhD in physics from Purdue University and studied at Cornell University and Northwestern University during his education.

 

“I am very pleased to be joining the Body and Mind team as the business enters a phase of significant expansion,” stated Mr. Hoffman. ”Along with the incredibly-talented team of experienced leaders, I am excited to bring my cannabis industry experience to further add value to the expansion of the Body and Mind operations and brand.”

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For further information, please contact:

 

Michael Mills 778-389-0007

mmills@bamcannabis.com

 

About Body and Mind

 

BaM is a publicly traded company investing in high quality medical and recreational cannabis cultivation and production and retail. Our wholly-owned Nevada subsidiary was awarded one of the first medical marijuana cultivation licences and holds cultivation and production licenses in Nevada and partial ownership of a production and dispensary license in Ohio. BaM products include dried flower, edibles, topicals, extracts as well as GPEN Gio cartridges. BaM 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.

 

BaM continues to expand operations in Nevada and Ohio and is constantly reviewing accretive expansion opportunities.

 

 

Safe Harbor Statement

 

Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of activities, variations in the underlying assumptions associated with the estimation of activities, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.

 

Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

Body and Mind Inc. Completes Sale of Units and Debentures to Australis Capital Inc. for Gross Proceeds of CAD $8 Million and Announces Appointment of Director

VANCOUVER, B.C., CANADA (November 5, 2018) – Body and Mind Inc. (CSE: BAMM, US OTC: BMMJ) (the “Company” or “BaM”) announced today that it has closed the previously announced sale of securities pursuant to an investment agreement (the “Investment Agreement”) with Australis Capital Inc. (CSE: AUSA) (“Australis”).

 

Director Appointment

 

The Company is pleased to announce the appointment of Mr. Scott Dowty as a director of the Company. Mr. Dowty will replace Chris Macleod on the board of directors. Mr. Dowty is the CEO and Director of Australis Capital Inc. and brings 25 years of experience evaluating companies and markets to identify key business drivers, spur rapid revenue and profit growth in competitive and highly regulated global markets. Mr. Dowty has held executive and corporate officer positions with NYSE and NASDAQ listed companies, founded several successful start-up companies in North America and has held Board positions within market leaders in the Cannabis industry. Mr. Dowty’s extensive operational experience in the International fintech and gambling sectors is closely aligned to the regulatory path of the U.S. cannabis industry.

 

“I am eager to add immediate value to the BAMM franchise both as Director and as CEO of Australis Capital, a large strategic investor in BaM” states Scott Dowty. “Just as Aurora Cannabis built their global platform and spun-out Australis Capital, we will leverage strategic relationships while exercising a disciplined and aggressive approach in expanding BaM’s reach and creating value for BaM shareholders”.

 

Robert Hasman, Director of BaM commented “This strategic partnership with Australis’ will provide BaM with tremendous opportunities as a result of an immense deal flow.  The domain knowledge of the Australis network is industry leading and will be invaluable as we focus our attention on strengthening our two key franchises in Nevada and Ohio.  We would like to welcome the CEO of Australis, Mr. Scott Dowty, to our board of directors and would like to thank Chris Macleod for his contributions to the board of directors and wishes him well in his future endeavours.”

 

Subject to applicable laws and the rules of the CSE, for as long as Australis owns at least 10% of the issued and outstanding Common Shares, Australis will be entitled to nominate one director for election to the Board of Directors of the Company (the “Board”). If Australis exercises all of the Warrants and converts all of the Debentures purchased in the Financing, Australis will be entitled to nominate a second director for election to the Board.

 

Investment Agreement

 

Pursuant to the terms of the Investment Agreement, Australis has acquired (i) 16,000,000 units (the “Units”) of BaM, each comprised of one common share (a “Common Share”) and one common share purchase warrant (a “Warrant”) of the Company, at a purchase price of $0.40 per Unit for gross proceeds of $6,400,000, and (ii) $1,600,000 principal amount 8% unsecured convertible debentures (the “Debentures”) of the Company maturing November 2, 2020 (collectively, the “Financing”).

 

Each Warrant is exercisable to acquire one Common Share of the Company at an exercise price of $0.50 per share for a period of two years, subject to adjustment and acceleration in certain circumstances. If the closing price of the Common Shares on the Canadian Securities Exchange (the “CSE”)  (or such other stock exchange on which the Common Shares are then listed) is equal to or greater than $1.20 for 30 consecutive trading days, BaM may accelerate the expiration date of the Warrants on 30 days’ notice to Australis.

 

The Debentures bear interest from the date of issuance (the “Issue Date”) at a rate of 8% per annum, calculated and payable semi-annually, in arrears. Repayment of the then outstanding principal amount of the Debentures, together with any accrued and unpaid interest thereon, is to be made on or prior to 5:00 p.m. (Vancouver time) on November 2, 2020 (the “Maturity Date”). The Debentures are convertible at the option of Australis into Common Shares at a conversion price equal to $0.55 per Common Share up to the Maturity Date, subject to adjustment and acceleration in certain circumstances. If, at any time after the Issue Date and prior to the Maturity Date, the closing price of the Common Shares on the CSE (or such other stock exchange on which the Common Shares are then listed) is equal to or greater than $1.65 for 20 consecutive trading days, BaM may force the conversion of the then outstanding principal amount of the Debentures (and any accrued and unpaid interest thereon) at the then applicable conversion price on not less than 10 business days’ notice to Australis.

 

Australis now holds approximately 25% of the issued and outstanding Common Shares of BaM.  Assuming the exercise of the Warrants and the conversion of the Debentures, Australis would hold approximately 35,142,000 Common Shares of the Company, representing approximately 42% of the issued and outstanding Common Shares of BaM. The Units and Debentures are being acquired for investment purposes and Australis may increase or decrease its position as future circumstances may dictate and subject to applicable securities laws.

 

The Company intends to use the proceeds of the Financing (i) to repay all but USD $1,000,000 of the promissory notes issued in connection with the Company’s acquisition of Nevada Medical Group LLC. The promissory note holders have agreed to extend the due date of the USD $1,000,000 to February 14, 2020 (ii) for strategic acquisitions and/or investment opportunities within the State of Ohio, (iii) for development, build out and equipment purchases for the NMG Ohio dispensary and/or production facility, (iv) to pay advisory fees payable to the Company’s financial advisor, and (v) for working capital purposes.

 

Canaccord Genuity Corp. acted as financial advisor to BaM in connection with the Financing.

 

The securities issued by the Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.  This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 

The securities issued by the Company are “restricted securities” as defined under Rule 144(a)(3) of the U.S. Securities Act and will contain the appropriate restrictive legends as required under the U.S. Securities Act and National Instrument 45-102.

 

For further information, please contact:

 

Michael Mills

778-389-0007

mmills@bamcannabis.com

 

About BaM 

BaM is a publicly traded company investing in high quality medical and recreational cannabis cultivation and production and retail. Our wholly-owned Nevada subsidiary was awarded one of the first medical marijuana cultivation licences and holds cultivation and production licenses. BaM products include dried flower, edibles, topicals, extracts as well as GPEN Gio cartridges. BaM 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.

 

BaM continues to expand operations in Nevada and Ohio and is constantly reviewing accretive expansion opportunities.

 

About Australis

 

Australis Capital identifies and invests in the cannabis industry predominately in the United States, a highly regulated, fragmented, rapidly expanding and evolving industry. Investments may include and are not limited to equity, debt or other securities of both public and private companies, financings in exchange for royalties or other distribution streams, and control stake acquisitions.  Australis Capital adheres to stringent investment criteria and will focus on significant near and mid-term high-quality opportunities with strong return potentials while maintaining a steadfast commitment to governance and community. Australis Capital’s Board, Management and Advisory Committee members have material experience with, and knowledge of, the cannabis space in the U.S., extensive backgrounds in highly regulated industries, adherence to stringent regulatory compliance, public company and operational expertise.

 

Safe Harbor Statement

 

Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of activities, variations in the underlying assumptions associated with the estimation of activities, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.

 

Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

 

The CSE has in no way passed upon the merits of the Financing and has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

 

Source:  Body and Mind, Inc.

Australis Capital Invests in Body and Mind Inc's Nevada and Ohio Expansion

LAS VEGAS, NV, Oct. 30, 2018 /PRNewswire/ – Australis Capital Inc. (CSE: AUSA) (“Australis” or the “Company”) is pleased to announce that the Company has entered into a definitive agreement (the “Investment Agreement”) with Body and Mind Inc. (CSE: BAMM, US OTC: BMMJ) (“BaM”) to purchase units and debentures of BaM. BaM is a publicly traded company investing in high quality medical and recreational cannabis cultivation and production and retail. BaM products include dried flower, edibles, topicals, extracts as well as GPEN Gio cartridges. BaM 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.

 

Pursuant to the terms of the Investment Agreement, Australis will acquire (i) 16,000,000 units of BAM, each comprised of one common share and one common share purchase warrant (the “Warrants”), at a purchase price of $0.40 per unit for $6,400,000, and (ii) $1,600,000 principal amount 8% unsecured convertible debentures of BaM (the “Debentures”) maturing two years following the date of issue (collectively, the “Financing”).

 

“We are solely focused on leveraging our resources and penetrating markets aligned with our growth vectors,” stated Scott Dowty, Chief Executive Officer of Australis. “BaM checks all the boxes with preeminent brands, first rate domain experience, ideal market positioning and a superb culture. Together with our strategic partners and expansive eco-system, BaM’s vertically integrated, multi-state operations will super charge our move into key geographic regions in the United States. We are fully committed to supporting BaM’s expansion into Ohio, building out operations in Nevada and supplying additional brands into distribution channels with a keen focus on creating value for our collective shareholders.”

 

Under the terms of the Investment Agreement, the parties have agreed to negotiate in good faith a license agreement pursuant to which Australis will gain an exclusive and assignable license to use the BaM brand outside of the United States on commercially reasonable terms.

 

“We are delighted to partner with Australis, the premier influencer in the sector, in what is a transformational endorsement for BaM,” said Leonard Clough, Chief Executive Officer of BaM. “Not only does this relationship provide capital for on-going initiatives, it provides resources for assessing and executing on additional opportunities, operational expertise and a global platform to showcase our quality brands beyond Nevada and Ohio.”

 

In addition, in connection with the Financing, Australis Capital (Nevada) Inc. (“Australis Nevada”), a wholly-owned subsidiary of the Company, will enter into a commercial advisory agreement with BaM,  pursuant to which Australis Nevada will provide advisory and consulting services to BaM for a term ending on the date that is the earlier of: (i) five years following the closing of the transactions contemplated by the Investment Agreement, and (ii) the date Australis no longer holds 10% or more of the issued and outstanding common shares of BaM. Subject to certain exceptions, Australis will be entitled to maintain its’ pro rata interest in BaM until such time as it no longer holds 10% or more of the issued and outstanding Common Shares.

 

Assuming that no share purchase warrants and/or stock options outstanding prior to the Financing are exercised, upon closing of the Financing Australis will hold approximately 25% of the currently issued and outstanding common shares of BaM. Further, using the same assumptions as above, and assuming the exercise of the Warrants and the conversion of the Debentures by Australis, Australis will hold approximately 35,142,000 common shares, representing approximately 42% of the issued and outstanding common shares of BaM.

 

About Australis Capital Inc.

Australis Capital identifies and invests in the cannabis industry predominately in the United States, a highly regulated, fragmented, rapidly expanding and evolving industry. Investments may include and are not limited to equity, debt or other securities of both public and private companies, financings in exchange for royalties or other distribution streams, and control stake acquisitions.  Australis Capital adheres to stringent investment criteria and will focus on significant near and mid-term high-quality opportunities with strong return potentials while maintaining a steadfast commitment to governance and community. Australis Capital’s Board, Management and Advisory Committee members have material experience with, and knowledge of, the cannabis space in the U.S., extensive backgrounds in highly regulated industries, adherence to stringent regulatory compliance, public company and operational expertise.

 

Australis’ Common shares trade on the CSE under the symbol “AUSA”.

For further information about Australis, please visit the website at ausacap.com or contact the Company by e-mail at ir@ausacap.com.

 

About BaM

BaM is a publicly traded company investing in high quality medical and recreational cannabis cultivation and production and retail. Our wholly-owned Nevada subsidiary was awarded one of the first medical marijuana cultivation licences and holds cultivation and production licenses. BaM products include dried flower, edibles, topicals, extracts as well as GPEN Gio cartridges. BaM 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. BaM continues to expand operations in Nevada and Ohio and is constantly reviewing accretive expansion opportunities.

 

ON BEHALF OF THE BOARD OF DIRECTORS

“Scott Dowty”
________________________________
Scott Dowty
Chief Executive Officer

 

Forward-Looking Information Statement

This news release contains statements and information that, to the extent that they are not historical fact, constitute “forward-looking information” within the meaning of applicable securities legislation, including statements in respect of completion of the Financing. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. There can be no assurance that the Financing will completed as proposed or at all. The Financing remains subject to customary closing conditions.

 

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws.

 

The CSE has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

https://c212.net/c/img/favicon.png?sn=VA54957&sd=2018-10-30 View original content to download multimedia:http://www.prnewswire.com/news-releases/australis-capital-invests-in-body-and-mind-incs-nevada-and-ohio-expansion-300740351.html

SOURCE Australis Capital Inc.

Body and Mind Inc. (“BAM”) Submits Four Nevada Dispensary Applications and Provides an Ohio Construction Update

VANCOUVER, British Columbia, Sept. 20, 2018 (GLOBE NEWSWIRE) — Body and Mind Inc. (CSE: BAMM, US OTC: BMMJ), (the “Company” or “BAM”) announces the Company’s wholly-owned subsidiary, Nevada Medical Group LLC (“NMG”) has recently submitted four dispensary license applications in the State of Nevada. The dispensary license application process has been limited to current cannabis license holders in good standing with the State of Nevada.

 

The State of Nevada opened the application period for new dispensary licenses on September 7th, 2018 and the period closes on September 20th, 2018. The Nevada Department of Taxation is anticipating awarding new provisional dispensary licenses to successful applicants on or around December 5th, 2018.

 

The company initiated the application process many months ago and has submitted Nevada dispensary license applications within the City of Las Vegas, Clark County, City of North Las Vegas and the City of Reno.

 

Robert Hasman, BAM director commented, “We are delighted to submit four applications for retail licensing in the State of Nevada which was a culmination of efforts by our management team and in-state partners.  Our strategy was to target underserved, high-traffic areas where competition is limited. We believe this is consistent with the mandate of the state.  We also believe that the state will look to level the playing field for those who do not yet have vertical integration.  Beyond Ohio and Nevada, and combined with what we believe to be a favourable share structure, we continue to look for grass roots licensing opportunities to create significant value for our shareholders in a low-cost organic manner.”

 

NMG has submitted the four Nevada dispensary applications with a local in-state partner group and a number of other individuals (the “Applicant Group”), all of whom provided the necessary experience and bonding for the applications. The Applicant Group, which includes two BAM directors acting in their own capacity, will co-fund the application as well as construction and development pending successful applications. In their capacity as directors of BAM, and where applicable regarding the license applications, both BAM directors abstained from voting to avoid any conflict of interest. Upon the issuance of one or more provisional dispensary license(s), NMG will formally apply to transfer 24.5 % of the license(s) to the in-state partner group, subject to state approval. Additionally, and only upon successful receipt of a provisional dispensary license(s), BAM has also agreed to pay to three individuals of the Applicant Group CAD $62,500 as a gross fee as fair value for their contributions to the applications and to settle the gross fee by way of the issuance of an aggregate 125,000 restricted shares of common stock in the Company to the three individuals within ten days upon the Applicant Group being awarded and receiving one or more of the Dispensary Licenses.

 

Ohio Dispensary and Production Progress

BAM and its strategic in-state investment partners are rapidly moving forward with construction and state approvals for the recently awarded dispensary to NMG Ohio LLC located in Elyria, Lorain County, Northeastern Ohio (see news release dated June 7, 2018). The Company maintains a 30% ownership interest in NMG Ohio LLC. NMG and its strategic in-state investment partners have also recently been awarded a medical cannabis production license (see news release dated September 19, 2018).

 

Architect drawings for the new dispensary interior are complete and local and state authorities have provided construction approval. The Ohio state authority has approved various advertising and marketing materials and the Company is working to engage and educate local patients during the construction phase.

 

The Ohio medical marijuana program provides access to medical cannabis products such as edibles, oils, patches and vaporizers to authorized and approved patients having one or more of 21 medical conditions. Medical marijuana patients and their caregivers will be required to register with the Ohio Board of Pharmacy to receive patient identification cards necessary to buy medical marijuana from licensed dispensaries. Patients and their caregivers will be allowed to possess up to a 90-day supply.

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For further information regarding Body and Mind Inc. please contact:

Michael Mills 778-389-0007
mmills@bammarijuana.com

 

About Body and Mind

Body and Mind is a publicly traded company investing in high quality medical and recreational cannabis cultivation and production. Our wholly owned Nevada subsidiary was awarded one of the first medical marijuana cultivation licences and holds cultivation and production licenses. Body and Mind products include dried flower, edibles, topicals, 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 and Ohio and is constantly reviewing accretive expansion opportunities.

 

For more information please visit our web site at www.bammarijuana.com

 

Safe Harbor Statement

Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of activities, variations in the underlying assumptions associated with the estimation of activities, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.

 

Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

 

Source: Body and Mind Inc.

About Body and Mind

The Perfect Balance of Body and Mind.™

 

How did we get our start?  And how do we do it?

 

It’s starts with our award-winning medical cannabis strains.  For several years, we’ve collected elite cannabis plants from all over the world.  Some had just the right body benefits.  Some had just the right mind benefits.  By carefully crossbreeding these plants, we’ve developed strains that give you the perfect balance of body and mind benefits.  We take these amazing strains and grow them naturally, in small batches, without the use of synthetic pesticides.  Every product is handcrafted and lab tested to ensure purity and potency.  The result is high quality you can see—before you even try the product.

 

Try BaM Quality Cannabis, and you’ll find out what we mean by the perfect balance of body and mind.

 

How do we do it?

 

It’s starts with our award-winning medical cannabis strains. For 15 years, we’ve been collecting elite cannabis plants from all over the world. Some had just the right body effects. Some had just the right mind effects. Through careful crossbreeding of these plants, we’ve developed medical cannabis strains that give you the perfect balance of body and mind.

 

Body and Mind

– the Nevada cannabis brand that gives you the perfect balance of body and mind.

 

That’s why our cannabis strains have won so many awards – like High Times Top Ten, the NorCal Secret Cup and the Emerald Cup. But that’s only part of the story. The love and care we put into our Las Vegas cannabis products is just as important.

 

Our cannabis plants are grown in small batches by our experienced cultivation team. Every product is handcrafted and lab tested to ensure purity and potency. The result is high quality that you will be able to see—before you even try the product.

 

BaM offers a variety of cannabis strains and products so you can choose the experience you want. Our products are widely available in Las Vegas dispensaries, and in cannabis dispensaries throughout Nevada. Be sure to ask for BaM Quality Cannabis by name when you visit a cannabis dispensary.

 

Products

 

Letting you choose the perfect balance of body and mind benefits. That’s what BaM Quality Cannabis is all about.

 

BaM offers a variety of award-winning medical cannabis strains, each carefully developed to deliver a unique balance of body and mind benefits. Our cannabis plants are grown with hands-on care in small batches, to ensure the highest quality. And we never use synthetic pesticides. We offer you a variety of strains, available in flower, vapes, pre-rolls and concentrates, so you can choose the right experience for you.

 

Investors

 

Nevada has become a top ‘adult use’ cannabis destination and is among the fastest growing markets in the world.

 

Limited licensing environment creates ideal operating conditions in Nevada.

 

Well established distribution system with long-term relationships with dispensaries throughout Nevada.

 

Experienced management, cultivation and production team with a track record of successful licensing, creative product development and operational efficiencies.

 

Recently awarded Ohio medical dispensary license along with an in-state investor group. The Company currently has a 30% ownership interest in the license.

 

Nevada Marquis brand providing consistent quality products. Newly acquired ownership interest in Ohio dispensary provides opportunity to bring BaM brand awareness into another state.

 

Anticipated production increase of ~40 % with completion of Phase 2 expansion which was completed in mid 2018

 

Significant growth opportunity with 7 licenses either under application, appeal or to be submitted shortly. 5 licenses relate to dispensary applications. One under-served Las Vegas dispensary location has been secured and a second location in process.

 

Source: https://bammarijuana.com/

Disclaimer

FN Media Group LLC (FNMG) owns and operates FinancialNewsMedia.com (FNM) which is a third party publisher that disseminates electronic information through multiple online media channels. FNMG’s intended purposes are to deliver market updates and news alerts issued from private and publicly trading companies as well as providing coverage and increased awareness for companies that issue press to the public via online newswires. FNMG and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. The companies that are discussed in this release may or may not have approved the statements made in this release. Information in this release is derived from a variety of sources that may or may not include the referenced company’s publicly disseminated information. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. While this information is believed to be reliable, such reliability cannot be guaranteed. FNMG disclaims any and all liability as to the completeness or accuracy of the information contained and any omissions of material fact in this release. This release may contain technical inaccuracies or typographical errors. It is strongly recommended that any purchase or sale decision be discussed with a financial adviser, or a broker-dealer, or a member of any financial regulatory bodies. Investment in the securities of the companies discussed in this release is highly speculative and carries a high degree of risk. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. This release is not without bias, and is considered a conflict of interest if compensation has been received by FNMG for its dissemination. To comply with Section 17(b) of the Securities Act of 1933, FNMG shall always disclose any compensation it has received, or expects to receive in the future, for the dissemination of the information found herein on behalf of one or more of the companies mentioned in this release. For current services performed FNMG has been compensated forty nine hundred dollars for Body and Mind, Inc. current news coverage by a non-affiliated third party.  FNMG HOLDS NO SHARES OF Body and Mind, Inc.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.

Sign Up & Get FREE News Alerts From FNM Today!