Body and Mind Inc. (CSE: BAMM, OTCQB: BMMJ) (the “Company” or“BaM”), a multi-state operator focused on limited license markets, is pleased to report Body and Mind branded products are available in Ohio and provide an update on operations in Michigan and Arkansas.
FY2021 Year End Financials
The Company anticipates reporting FY2021 (period ending July 31, 2021) year end financials on or before Thursday November 18th. The Company has an earnings call scheduled for Friday, November 19th and please see conference call dial in details at the end of this release.
Body and Mind Expands Branded Products to Ohio
The new Ohio processing facility is located next to the Body and Mind dispensary west of Cleveland and has been designed to produce popular Body and Mind concentrates using hydrocarbon extraction as well as edibles and oils. “We are excited to have the first of many SKU’s in the Ohio market as our team brings years of experience with a wide range of hydrocarbon extraction products,” stated Michael Mills, CEO of Body and Mind. “We designed the production facility as a top-of-the-line hydrocarbon facility to give the largest breadth of extraction products and we are in the process for approval of a full range of products to service the growing Ohio medical market. As early entrants to the Ohio market, our team has a deep understanding of consumer trends in the state and we look forward to the addition of our award winning concentrates, oils and edibles.”
Michigan Development
The Body and Mind dispensary in Muskegon, Michigan is moving quickly through renovation of a pre-existing bank building located on a well trafficked thoroughfare with significant parking. The Company has hired a general manager for the location and training has commenced. The Body and Mind branded dispensary is anticipated to be operational in late 2021 or early 2022.
The Company has received building permits for phase 1 of the cultivation and production facility and is in the final stages of contractor selection and ordering long lead items. The cultivation and production facilities have received local approval and state pre-approval for a 25,000 square foot cultivation and 5,000 square foot production facilities within the same existing building. The Company anticipates commencing construction shortly with construction plans for 25,000 square feet of cultivation to be built in phase 2.
Arkansas Cultivation
Comprehensive Care Group and BaM have commenced the first cultivation harvest at the West Memphis location and anticipate Body and Mind branded flower to be available in Arkansas before the end of November. “We are excited to bring Body and Mind quality flower to the state of Arkansas and look forward to producing many new strains in the near future,” stated Trip Hoffman, COO of Body and Mind. The cultivation facility is designed to produce enough flower to supply the Body and Mind dispensary as well as generate revenue from wholesales.
FY2021 Year End Conference Call Details
The Company will be hosting earnings call on Friday, November 19th, 2021 at 11:00 a.m. Eastern.
Participants can dial 1-888-664-6392 or 416-764-8659 and use confirmation number 13970998.
A replay of the conference call will be available at 1-888-390-0541 until November 26, 2021. Please use replay number 970998 #
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