Body And Mind Inc Stock Price, News & Analysis

Body and Mind Inc. (CSE: BAMM, OTCQB: BMMJ) has received conditional dispensary licenses for its subsidiaries NMG IL 1 and NMG IL 4 in Chicago, part of BLS Region #5, which offers 119 licenses. This expansion is expected to enhance shareholder value as the company partners with a social equity partner to enter the Illinois market. Body and Mind, known for its operations in multiple states, aims to leverage its expertise in cannabis cultivation and retail to grow its brand in this populous area.

Body and Mind reported Q3 FY2022 revenue of $7.88 million, up 10% from $7.16 million in Q3 FY2021. Gross profit was $2.91 million, while net losses totaled $2.46 million, with a basic loss per share of $0.02. The company holds assets of $52.99 million against total liabilities of $22.70 million. Operational highlights include the management takeover of Seaside dispensary and expanded production in Ohio, Arkansas, and Michigan, with a focus on enhancing wholesale operations. Cash and working capital surplus were reported at $3.71 million and $2.42 million respectively.

Body and Mind Inc. (BMMJ) announced a significant amendment to its Seaside dispensary purchase agreement, reducing the cash purchase price from $2.5 million to $1.25 million. The difference will be covered by issuing common stock equivalent to the cash reduction. The company also plans to issue additional shares based on the dispensary's working capital. This strategic move aims to strengthen the balance sheet, facilitating future growth. The company's Q3 earnings report is set for release on June 21, 2022, coinciding with a conference call.

Body and Mind Inc. (CSE: BAMM) (OTCQB: BMMJ) has announced an extension of its loan agreement, allowing it to draw $4 million until March 31, 2023. The agreement's maturity is now set to July 19, 2026. The interest rate on the loan will increase from 13% to 15% per annum. As part of the amendment, the company issued 1 million warrants at an exercise price of $0.16, expiring June 14, 2027. This financial flexibility is aimed at supporting the company's expansion plans across multiple states.

Body and Mind Inc. (BMMJ) announced a significant expansion of its wholesale operations in Ohio and Arkansas. In Ohio, the company is launching new extracted products and preparing to introduce popular edibles. In Arkansas, the company has successfully ramped up its cultivation operations, with proprietary strains receiving market acclaim. The firm has initiated sales through its dispensary and is collaborating with local extractors. Body and Mind aims to enhance shareholder value through operational improvements and by leveraging its Nevada product portfolio in these new markets.

Body and Mind Inc. (CSE: BAMM, OTCQB: BMMJ) has rebranded its San Diego dispensary from ShowGrow to Body and Mind to strengthen brand alignment. The company plans to expand operations in Ohio, having received kitchen certification for edibles production. Additionally, it is preparing for a busy 4/20 week in Nevada, collaborating with local dispensaries and launching products. Body and Mind has also completed pheno-hunting in Arkansas and is ramping up for a busy period in Michigan, while actively participating in cannabis legalization initiatives.

Body and Mind Inc. (BMMJ) reported a 27% year-over-year revenue growth for Q2 FY2022, totaling $8.05 million. Sequential growth was 6% compared to Q1 FY2022. The company achieved a gross profit of $3.02 million, up 10% year-over-year. However, it recorded a net loss of $2.72 million and a net operating loss of $0.97 million. Cash reserves stood at $4.62 million with a working capital surplus of $4.07 million. BaM continues to expand its operations across several states, focusing on cannabis production and retail.

Body and Mind Inc. (BMMJ) announces plans to release its fiscal Q2 2022 results for the period ending January 31, 2022, on March 17, 2022, after market close. A conference call to discuss these results is scheduled for March 18, 2022, at 2 p.m. ET. BaM operates across multiple U.S. states, focusing on medical and recreational cannabis products. The company aims to enhance shareholder value through operational efficiencies, licensing, and potential mergers. Their Nevada subsidiary holds significant cultivation licenses and has received multiple awards for its cannabis strains.