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Ohio Dispensary Sale To Fund Retail Expansion In Other States? This Cannabis Co. Shifts Focus

Benzinga ·  Oct 18, 2023 22:41

Body and Mind Inc.(CSE:BAMM) (OTCQB:BMMJ) said on Wednesday that its wholly owned subsidiary, DEP Nevada, Inc., has closed the previously announced transaction to sell all of its interests in the Body and Mind Ohio dispensary for $8.225 million in cash.

What Happened

DEP Nevada entered into an equity purchase agreement with FarmaceuticalRX, LLC in July, whereby DEP agreed to sell all of the issued and outstanding interests, equity or profit interests in NMG OH 1, LLC, which owns and operates the Body and Mind Ohio dispensary, to the purchaser.

The deal includes an additional $2.5 million in potential contingent proceeds.

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