Body and Mind Receives Nevada Distribution License and Provides Corporate Update
VANCOUVER, B.C., CANADA (December 21, 2020) – Body and Mind Inc. (CSE: BAMM, OTCQB: BMMJ) (the “Company” or “BaM”), a multi-state cannabis operator announces today the Company has received a cannabis distribution license in Nevada. The license is pending final local city approvals.
“The distribution license allows us to deliver our own product, as well as all contracted products we manufacture, directly to our vendors’” stated Michael Mills, CEO of Body and Mind. “This license allows us to further strengthen our supply chain and reduce the costs and risks of third-party distribution in Nevada.”
In October 2020, the Company became aware of a complaint for disciplinary action by the Nevada Cannabis Compliance Board (the “CCB”) with respect to Nevada Medical Group, LLC (“NMG”), the Company’s Nevada operating subsidiary (the “Complaint”).
NMG has continued to operate without interruption while it has worked closely on a settlement agreement regarding the Complaint. The Nevada Compliance Board approved the settlement agreement with NMG on December 18, 2020, with the agreed settlement comprised of a combination of a fine payable in installments and a formal warning for certain violations and no license termination or suspension of the Nevada cultivation license. NMG and BaM are committed to the integrity of the regulated marketplace.
BaM has been renovating the Nevada cultivation facility to add additional cultivation space. The first modification has been approved and the additional space is anticipated to increased cultivation for the facility.
About Body and Mind Inc.
BaM is a debt free multi-state operator investing in high quality medical and recreational cannabis cultivation, production and retail. BaM’s wholly owned Nevada subsidiary was awarded one of the first medical marijuana cultivation licenses and holds cultivation and production licenses. BaM products include dried flower, edibles, oils and extracts as well as GPEN Gio cartridges. BaM cannabis strains have won numerous awards including the 2019 Las Vegas Weekly Bud Bracket, Las Vegas Hempfest Cup 2016, High Times Top Ten, the NorCal Secret Cup and the Emerald Cup.
BaM continues to expand operations in Nevada, California, Arkansas and Ohio and is dedicated to increasing shareholder value by focusing time and resources on improving operational efficiencies, facility expansions, pursuing state licensing opportunities and mergers and acquisitions.
Please visit www.bodyandmind.com for more information.
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President and CEO
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