Body and Mind manufactures cannabis in California through BaM’s California subsidiary, NMG Cathedral City, LLC (“NMG”).
The Cathedral City facility contains state of the art distillation equipment including ethanol and BHO processes and is expected to provide Body and Mind speed to market for popular products including oils, shatter, wax, live badder and ambrosia. Additionally, the facility is anticipated to commence producing Body and Mind edibles including Pretzel Bites and Gummies
NMG has entered a management and administrative services agreement (the “Management Agreement”) with Satellites Dip, LLC, (“SD”), a licensed cannabis business conducting commercial cannabis activity within the state of California. NMG will manage day to day operations of the custom built 7,800 square foot manufacturing facility in Cathedral City, California. The facility was custom designed for large volume cannabis manufacturing and has been producing wholesale concentrates since construction completion in 2017.
Please see press release for additional details
On July 3, 2019, Body and Mind Inc. announced the Company had entered into a definitive asset purchase agreement (the “Purchase Agreement”) to acquire a 100% ownership interest in ShowGrow’s Long Beach, California dispensary, a settlement agreement (“NMG SD Settlement”) to acquire a 60% ownership interest in ShowGrow’s San Diego, California dispensary (the “Acquisition”), and a lease assignment (the “Lease Assignment”) on the San Diego operation.
The Acquisition provides Body and Mind with a beachhead to establish retail operations in California, which will assist the Company in rolling out its brands beyond Nevada, Ohio and Arkansas. The Acquisition will enable the Company to access a seasoned retail management team that can also assist in adding value to the Nevada, Ohio and Arkansas platforms. The Acquisition provides exposure to high-growth, near-term revenue producing assets with solid earnings potential and access to deep domain knowledge of the California cannabis industry. For more information please see the July 3rd news release
ShowGrow Long Beach was Voted Best Dispensary in Long Beach 2018 – Orange County Weekly
OCWeekly.com – Cannabis – Best of 2018
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