Body and Mind Partners Win 2 Chicago Retail Dispensary Licenses in… – New Cannabis Ventures

Body and Mind has Management Agreements and Option to Acquire Two Illinois Entities That Each Win a Chicago Conditional License in Illinois Dispensary Lottery

VANCOUVER, BC, Aug. 6, 2021 /PRNewswire/ – Body and Mind Inc. (CSE: BAMM) (OTC-QB: BMMJ) (the “Company” or “BaM”), a multi-state operator, is pleased to announce that it has management agreements with each of NMG IL 1, LLC (“NMG IL 1”) and NMG IL 4, LLC (“NMG IL 4”) and the option to indirectly acquire all of the membership interests in each of NMG IL 1 and NMG IL 4 pursuant to a convertible credit facility between BaM’s subsidiary, DEP Nevada, Inc. (“DEP”) and each of NMG IL 1 and NMG IL 4, and membership interest purchase agreements between DEP and the members of NMG IL 1 and NMG IL 4, subject to obtaining all required local and state regulatory authorization. Each of NMG IL 1 and NMG IL 4 have been identified in the Illinois Department of Financial and Professional Regulation (IDFPR) results of the Social Equity Justice Involved Lottery for 55 Conditional Adult-Use Cannabis Dispensary Licenses (Conditional Licenses) across

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