- Body and Mind Inc. (CSE: BAMM, OTC Pink: BMMJ) has entered into a purchase agreement to sell its Long Beach dispensary.
- The total transaction amount is US$856,250, with US$100,000 already received as a deposit.
- Full transaction details will be disclosed in an upcoming Form 8-K filing.
Body and Mind Inc. (CSE: BAMM, OTC Pink: BMMJ) has announced a strategic move to sell its Long Beach dispensary operations through its subsidiary, DEP Nevada. The agreement, forged with SGC Retail Partners, involves the sale of all issued and outstanding interests in NMG Long Beach, LLC, the entity holding the dispensary, for a total cash consideration of US$856,250. A notable US$100,000 deposit has already been received by DEP Nevada.
The transaction is poised to inject immediate capital into Body and Mind Inc., signaling a slight reduction in their retail footprint. The company's strategic focus remains on optimizing its return on investment, with forthcoming projects in Illinois and New Jersey holding substantial promise.
Further details regarding this transaction, including the precise terms and conditions, will be documented in a comprehensive Form 8-K filing. This filing is expected to be available on EDGAR within the prescribed four business day period, offering stakeholders additional insights into the sale.
