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Anybody following this stock?
Market going up even as it waits for an announcement that the financing has been completed.
Thanks for the good luck. I am feeling pretty lucky on this one - and will keep watching and enjoy the ride.
Yeah, I too find it a very welcome problem of when to sell. I am averaged in at a little more than you - low 60's with 85,000 shares. I know the wisdom is to sell some - especially with a triple sitting on the table.
But I am thinking you're brother's idea of $3.00 is not that far off - maybe not the next run, but in the next few months. A powerhouse behind them and revenue starting to pour in with all these dispensaries coming on line, I am going to wait and see before I sell any. Maybe $3.00 when that happens - or see what it looks like then.
I was tempted at 1.71 - suggested it to my finance guy - who'd been incredibly resistant to me buying it in the first place. Then he looked into it and bought some of his own!
His advice - he wouldn't sell - if it goes to $5.00 by June I wouldn't feel very good!
Anyone making any guesses about the revenue from the Ohio dispensary?
at $42 and $46 per pop the revenue can pile up pretty fast. 100 units per day at six days averaging $44 = $26,400 per week.
Times 52 weeks = $1,372,800. Not bad from one dispensary.
Looks that way to me. It's been trading 550K shares a day on average for several days. Held even today on 724K showing a lot of confidence at this level. With all this volume and holding steady, hard to see it going down.
Minute by minute, second by second.
That idea of algos stepping out makes sense.
I agree on the long term on this one. Have been in since they went public, following pretty closely.
I saw that too. I'd been watching it, looked away and BOOM! Some people must have gotten out of the way.
Last news release - dated April 26 - says new machine will put out up to 20 packages a minute. That's 1200 an hour, or 9600 in an 8 hour day. Wonder how much each package retails for.
None. Gave up on these little guys a long time ago.
Yea, that Tweed story is a good tracker of where the industry has been. And looks like this is just the start. So many players - big guys are going to eat little guys.
Looking for BMMJ to do well in the early scramble - enough to get a bit into the dollar range before any tender.
Don't blame you for being long if you think they are going to follow the Tweed path. A lot of things have to go right: management, being number one.
Good news indeed. Get the Sessions noose off our neck.
Good move ending the deal with TGIFF. That management seems erratic. BMMJ's has a business plan. Plus they have succeeded before.
That's the feeling I had, too. As I am seeing it, it all depends on management - how capable they are.
Anybody out there following this stock?
News release behind jump in stock price.
VANCOUVER, British Columbia, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Body and Mind Inc. (CSE:BAMM) (OTC:BMMJ), (the “Company” or “BAM”) and Friday Night Inc. (“Friday Night” or “TGIF”) (CSE:TGIF) (FWB:1QF) (OTCQB:TGIFF) are pleased to announce an all-stock acquisition valuing BAM at approximately CAD $115,000,000 based on the recent closing price of Friday Night. Transaction highlights:
Merger is expected to be immediately accretive to cash flow;
With approximately 130,000 square feet of facility projects under development, will make Mergeco among the largest cultivation and production companies in Nevada;
Per unit costs to become among the lowest in Nevada due to economies of scale;
Enhanced product lines will better service clientele;
Increased product volumes will warrant investment that drives efficiencies such as packaging systems, extraction, dosing, testing, distribution and marketing; and
Purchase price represents an approximate 50% premium over BAM’s recent closing price, on a fully diluted basis.
Robert Hasman, BAM President commented, “This is a meaningful win for our stakeholders but is only the beginning of consolidation here in Nevada. The financial strength of a combined entity will enable us to continue to do more transactions at a rapid pace with the ultimate goal of driving down costs, expanding product lines, and servicing our customers. I would like to thank our staff and shareholders and the overwhelming support from the investment community for this transaction.”
Brayden Sutton, Friday Night Inc. CEO commented, “This transaction advances Friday Night into a leading position in what many believe is the best cannabis market in the world. Unlike so many competitors that promise to deliver profits well in the future, we are able to deliver them now and in real time. We see a huge opportunity for further consolidation as well. We welcome the BAM shareholders and staff to the Friday Night family and are excited about having Robert Hasman head up the expanded organization as President.”
The transaction is expected to be structured by way of an amalgamation between BAM and a wholly owned Nevada subsidiary of TGIF, in which the shareholders of BAM will receive common shares in the capital of TGIF (the "TGIF Shares") in exchange for their shares of BAM ("BAM Shares"). TGIF will issue 115,000,000 TGIF Shares for all of the BAM shares. The final structure of the transaction will be subject to advice from BAM and TGIF tax, financial and legal advisors. The parties anticipate completing the Transaction on or about March 31, 2018. The agreement is subject to closing conditions normal for a transaction of this type, including due diligence, BAM shareholder and Canadian Securities Exchange approvals.
About Body and Mind Inc.
Body and Mind Inc. is a Nevada corporation which is publicly traded on the Canadian Securities Exchange. The Company was an early State of Nevada applicant in 2014 and was awarded one of the first state medical marijuana licenses for both cultivation and production.
BAM produces flower, oil extracts and edibles in its current facility and expects within the latter part of 2018 to be managing operations in facilities providing approximately 50,000 square feet.
About Friday Night Inc.
Friday Night Inc. is a Canadian public company, which owns and controls cannabis and hemp based assets in Las Vegas Nevada. The company owns 91% of Alternative Medicine Association, LC (AMA), a licensed medical and adult-use cannabis cultivation and production facility that produces its own line of unique cannabis-based products and manufactures other third-party brands. Infused MFG, also a 91% owned subsidiary, produces hemp-based, CBD products, thoughtfully crafted of high quality organic botanical ingredients. Friday Night Inc. is focused on strengthening and expanding these operations within and outside of the state.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information regarding Body and Mind Inc. please contact:
Justin Rasekh
778-998-4235
justin@altuscapital.ca
For further information regarding Friday Night Inc. please contact:
Joe Bleackley, Corporate Communications
604-674-4756
Joe@FridayNightInc.com
Now trading on OTC - in 1.40's. Very solid jump.
No a bad place to be - trading at 1.60 on the Canadian exchange today.
News is out. Expansion plans.
Body and Mind Announces Major Expansion & Strategic Partnership
8:45 am ET December 18, 2017 (Globe Newswire) Print
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Body and Mind Inc. (CSE:BAMM) (US OTC:BMMJ), (the "Company" or "BAMM"), is pleased to announce two significant transactions. The Company has reached an agreement with a real estate investment group, led by the Company's President, who will purchase a building adjacent to the existing facility and lease it back to a newly formed partnership called Pepper Lane North LLC ("PLN" or "Partnership") on a long-term basis with renewal options. PLN is a strategic partnership between BAMM and one of the preeminent dispensary chains in the State of Nevada. BAMM's partner will also transfer an active cultivation license to the facility and all expenditures under PLN will be funded on a 50/50 basis. The new facility will primarily consist of flowering rooms as production, packaging, distribution, and head office functions will remain at the existing facility. BAMM has also earmarked approximately 4,000 square feet of frontage for a dispensary upon receipt of a retail license. It is contemplated that at least half of the sales under PLN will be sold to BAMM's partner through their existing dispensary network. In addition, BAMM has signed an operating and management agreement with PLN and will receive the greater of USD$15,000/month or 10% of PLN's net profits.
The Company's CEO Leonard Clough commented, "On a combined basis, BAMM will have approximately 50,000 sq. feet of facilities under management, an increase of approximately 150%, but what is more significant is that we anticipate an increase in production of over 300% providing BAMM with a significant near term growth profile. We anticipate a decline in per unit costs going forward, greater efficiencies in our distribution and packaging departments, and meaningful economies of scale. Our funding agreement under PLN also provides the added bonus of leverage - significant growth for a relatively low capex investment. Our pursuit of 100,000 sq. feet is well underway."
Under the Partnership, each party has provided an initial capital contribution to PLN in the amount of USD $250,000. These funds will first be applied as a non-refundable deposit towards securing the building lease of approximately 30,000 square feet located in close proximity to the Company's current operations in Las Vegas, Nevada. The new facility will require renovations and build-out costs of approximately USD$3,700,000. The renovation and build-out costs will be funded by PLN on an equity interest basis and BAMM expects the new facility to be operational in the latter part of 2018.
For further information please contact:
Justin Rasekh, Investor Relations
Body and Mind Inc.
Email: Justin@Altuscapital.ca
Trading volume on the Canadian exchange incredibly strong. After trading over 200K shares yesterday, it is already at 260K at 10:30 this morning. Clearly lots of interest in this stock.
Right. Long process. Now let's see what this new company's got.
Two days after the new group takes over, the first thing they announce is raising money for 'general working capital'.
Curiosity question. What happened to the $6,007,429.89 they just received as part of the takeover?
Body and Mind Announces Private Placement of Units
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
VANCOUVER, British Columbia, Nov. 22, 2017 (GLOBE NEWSWIRE) -- Body and Mind, Inc. (“Body and Mind” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement of up to 637,273 units (the “Units”) at a price of CDN $0.66 per Unit for aggregate gross proceeds of up to CDN $420,600 (the “Offering”). The net proceeds of the Offering will be used for general working capital of the Company.
Each Unit will consist of one common share in the capital of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional common share in the Capital of the Company (a “Warrant Share”) at a price of CDN $0.90 per Warrant Share for a period of 24 months from the closing of the Offering. Each Warrant is subject to acceleration provisions following the six-month anniversary of the date of closing of the Offering, if the closing trading price of the Shares on the Canadian Securities Exchange (the “Exchange”) is equal to or greater than CDN $1.20 for seven consecutive trading days, at which time the Company may accelerate the expiry date of the Warrants by issuing a press release announcing the reduced warrant term whereupon the Warrants will expire 21 calendar days after the date of such press release.
The Company may pay finders’ fees on the Offering within the amount permitted by the policies of the Exchange to eligible finders. Closing of the Offering is subject to a number of conditions including receipt of all necessary corporate and regulatory approvals, including the Exchange.
All of the securities issuable in connection with the offering will be subject to a statutory hold periods under applicable Canadian and United States securities laws for a minimum hold period of four month and one day after the date of issuance in accordance with applicable securities legislation. The securities will also be subject to a mandatory hold period of six months and one day after the date of issuance.
The Company intends to complete a portion of the Offering pursuant to Multilateral CSA Notice 45-318 Prospectus Exemption for Certain Distributions through an Investment Dealer (“CSA 45-318”) and the corresponding instruments, orders and rules implementing CSA 45-318 in the participating jurisdictions (collectively with CSA 45-318, the “Investment Dealer Exemption”). In addition to conducting the Offering pursuant to the Investment Dealer Exemption, the Company will also accept subscriptions for Units where other prospectus exemptions are available.
In accordance with the Investment Dealer exemption, the Company advises that, as at the date hereof, there is no material fact or material change in respect of the Company that has not been generally disclosed.
The securities referenced herein have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registrations or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
For further information please contact:
Darren Tindale, CFO
Body and Mind, Inc.
Email: stonerockltd@gmail.com
Completion of the proposed offering is subject to a number of conditions, including receipt of appropriate regulatory approvals. The offering cannot close until all such conditions are satisfied. There can be no assurance that the offering will be completed as proposed or at all.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. Important factors – including the availability of funds, the results of financing efforts and the parties’ due diligence reviews, and general market conditions – that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
We seek safe harbour.
News is out. Reverse takeover completed.
Body and Mind Announces Closing of Acquisition of Nevada Medical Group LLC
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
VANCOUVER, British Columbia, Nov. 20, 2017 (GLOBE NEWSWIRE) -- Body and Mind, Inc., formerly known as Deploy Technologies, Inc. (“Body and Mind” or the “Company”), is pleased to announce that further to its news release dated September 18, 2017, it has closed its previously announced acquisition (the “Acquisition”), pursuant to which the Company, through its wholly owned subsidiary DEP Nevada Inc. (“DEP Nevada”) has acquired of all of the issued and outstanding membership units of Nevada Medical Group LLC ("NMG"), from the members of NMG (the “NMG Members”). In connection with the closing of the Acquisition, the net proceeds of the Company's private placement of subscription receipts in support of the Acquisition (the "Offering") have been released to the Company from escrow. Immediately prior to closing of the Acquisition, the Company completed a consolidation (the "Consolidation") on the basis of three (3) pre-Consolidation common shares to one (1) post-Consolidation common share (each post-Consolidation common share, a "Common Share"), as well a name change, changing the name of the Company from Deploy Technologies, Inc. to Body and Mind, Inc.
For further information related to NMG, please see the Company’s news release dated September 18, 2017.
Conversion of Subscription Receipts
The Closing included the completion of an equity financing to raise minimum gross proceeds of US$4,000,000 (the “Concurrent Financing”) as previously disclose by the Company. The Company issued 27,306,496 subscription receipts (the “Subscription Receipts”) at a price of CDN $0.22 per Subscription Receipt for aggregate gross proceeds of CDN $6,007,429.89.
On completion of the Acquisition, the Subscription Receipts were automatically exercised in accordance with their terms, and were exchanged for one unit (a "Unit") of the Company. Each Unit consists of one Common Share and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share (a "Warrant Share") for an exercise price of $0.90 per Warrant Share for a period of 24 months from the issuance of such Warrant.
For further information relating to the subscription receipt financing please reference the news releases of the Company dated August 15, 2017, August 16, 2017 and October 31, 2017.
Completion of Acquisition
Pursuant to a share exchange agreement dated September 14, 2017 (the “Share Exchange Agreement”) amongst the Company, DEP Nevada, NMG and the NMG Members, the Company acquired all of the issued and outstanding membership units of NMG (the “Units”) through DEP Nevada. In consideration for the Units, the Company issued to the NMG Members an aggregate of 16,000,000 Common Shares at a deemed value of $0.66 per Common Share as well as US$2,084,000 pro rata amongst the NMG Members.
The Company also issued 2,037,879 Common Shares to TI Nevada, LLC (“TI Nevada”), 212,121 Common Shares to Charles Fox, 47,000 Common Shares to Toro Pacific Management Inc., 60,000 Common Shares to Chris Hunt, and 470,000 Common Shares to Benjamin Rutledge in connection with the Acquisition.
In connection with the Acquisition the Company paid the amount of US$225,000 to TI Nevada as repayment for a loan made by TI Nevada to NMG.
Board of Directors
The board of directors of the Company on closing of the Acquisition consists of Leonard Clough, Robert Hasman, Kevin Hooks, Dong Shim and Chris MacLeod.
Leonard Clough has replaced former CEO of Body and Mind Dong Shim as CEO.
Escrowed Securities
The 5,957,879 Common Shares held indirectly by Robert Hasman and the 3,920,000 Common Shares held indirectly by Kevin Hooks are subject to a mandatory escrow agreement pursuant to the policies of the CSE (the “Mandatory Escrow”). All remaining Common Shares issued to the NMG Members, TI Nevada, LLC and Charles Fox pursuant to the Share Exchange Agreement, exclusive of such Common Shares subject to Mandatory Escrow, are also subject to a voluntary pooling agreement.
For further information please contact:
Darren Tindale, CFO
Body and Mind, Inc.
Email: stonerockltd@gmail.com
Investors are cautioned that, except as disclosed in the disclosure document to be prepared in connection with the transaction, any information released or received with respect to the Acquisition may not be accurate or complete and should not be relied upon. Trading in securities of Deploy Technologies Inc. should be considered highly speculative.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. Important factors – including the availability of funds, the results of financing efforts and the parties’ due diligence reviews, and general market conditions – that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
We seek safe harbour.
Source: GlobeNewswire (November 20, 2017 - 5:18 PM EST)
Good find. Maybe a step in finishing the reverse takeover. It's been a while getting done.
Canadian exchange halted trading because of a 'fundamental change'. My reading of that says it is changing it's business from one industry to another. From technology to marijuana. If the reverse merger completes, it will be running an entirely different enterprise.
Am guessing trading in the technology company is over.
Lots of activity on CNSX (53,500) even though past the closing date for the reverse merger.
Trading on both exchanges today. All the low prices have been taken out.
http://thecse.com/sites/default/files/DEP_2017-06-29.pdf
New release from yesterday. An update on business steps taken by the new company.
Somebody bought 400,000 shares on the Canadian Exchange this morning. Translates to $108,000. Somebody believes in something.
Same company.
Interview with Chair of Nevada Medical Group. CEO of group that is going into Deploy shell.
https://equity.guru/2017/05/23/body-and-mind-bam-ceo-robert-hasman-explains-his-first-mover-vegas-advantage/
If this deal goes through, Deploy will be a marijuana company.
http://thecse.com/sites/default/files/DeployNews05162017.pdf
The Shah issue is running the stock and selling shares into the run. Using a 'company' as a stock selling ATM machine.
Deploy has not done that. Period.
Am not looking to be convinced. Only expect people who post here will establish fact basis for claims made. Claim was ceo of Deploy was practicing methods of Arshad Shah. That is a serious accusation. Fact basis for that made. And it cannot be because it is not true.
It would be interesting to have the quote of what your source actually said. That would be credible DD.
I think it's important when one posts on this board, that the claims be based in fact. Have you researched your claims of David's connection to Arshad Shah? If you do, you will have to correct your statement.
It's my experience, too. Really good guy and willing to talk to you.