Item 7.01 Regulation FD Disclosure
On September 9, 2020, Body and Mind Inc. (the "Company") issued a news release
to report that its wholly-owned subsidiary, NMG OH 1, LLC, has now received all
approvals and final license and name transfer from the Ohio Department of
Pharmacy for The Clubhouse dispensary located in Elyria, Ohio.
"This second license transfer in less than a month furthers our strategy of
expanding the Body and Mind brand and operational expertise to targeted limited
license markets," stated Michael Mills, CEO of Body and Mind. "We have been
operating The Clubhouse since opening in early 2019 and look forward to
rebranding as a Body and Mind dispensary and consolidating the Elyria, Ohio
retail operations. The Company is continuing with development of the Ohio
provisional production license and a long-term lease and a local conditional use
permit have been secured. We continue to expand our offerings into new states,
and we are looking forward to bringing our Body and Mind branded offerings to
the Ohio market."
The Clubhouse dispensary opened in February 2019 and was one of the early
dispensaries to open in Ohio shortly after the first legal sales of cannabis in
Ohio. The dispensary is located in Elyria, Ohio, roughly 30 minutes West of
Cleveland with approximately 1.7 million people who live within 30 miles and
approximately 3.28 million who live within 50 miles of the dispensary according
to 2010 census data from Censusviewer.
Ohio is the 7th most populous state with an estimated population over 11.5
Million in 2019 according to the US Census Bureau. The Ohio Board of Pharmacy
has awarded 57 provisional dispensary licenses and, as of August 25, 2020, The
Ohio Medical Marijuana Control Program outlines there were 51 dispensaries in
receipt of a certificate of operation. In response to the COVID pandemic. The
Ohio Board of Pharmacy implemented temporary rules in April 2020 to allow online
ordering and curbside pickup and also simplified the calculations of the amount
of product patients could possess during a 90-day window. To limit contact,
customers who are registered with the dispensary can order on-line for express
pickup and the Company is working with local regulators to add curbside pickup
to assist customers.
A copy of the news release is attached as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit Description
99.1 News Release dated September 9, 2020.
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