- Business
- Body and Mind Inc. (CSE: BAMM) cultivates, processes, distributes and retails medical and recreational cannabis products including pre-rolled joints, packaged flower buds, concentrates, distillate oils, vape cartridges, shatters and edibles under the Body and Mind brand; operates retail dispensaries such as San Diego BaM Body and Mind, BaM Body and Mind Long Beach and The Reef by Body and Mind; and provides wholesale cannabis products across its operational footprint in California, Illinois and select other U.S. states. Founded in 1998 and headquartered in Vancouver, Canada, the company focuses on premium, naturally grown cannabis strains, innovative oils, edibles and concentrates developed since 2016 in state-of-the-art climate-controlled facilities with rigorous lab testing for purity and potency. It serves medical patients and recreational consumers through hand-crafted products emphasizing quality, balanced effects and customer wellness in limited-license markets. In recent developments, Body and Mind sold its Ohio dispensary near Cleveland for $8.2 million in cash during fiscal Q1 2024, fully repaid $7.33 million in senior secured debt to strengthen its balance sheet and reduce annual interest expenses by approximately $1 million, received a $2 million deposit toward the sale of its Ohio processing operation, entered agreements to divest New Jersey assets to Ascend New Jersey LLC with a social equity partner in 2025 and pursued divestitures and managed services agreements for Illinois locations including NMG IL 1 (Lynwood) and NMG IL 4 (Markham) to streamline operations while prioritizing retail expansions in Illinois and California. The company continues to emphasize return on investment through operational efficiencies, cost savings, gross margin improvements to 37.4% in Q1 FY2024 and market share growth in underserved regions.