Body and Mind Inc. has moved forward with a series of transactions aimed at streamlining its operations and focusing on retail markets with the strongest return potential. The company continues to prioritize Illinois and New Jersey, where it sees the greatest opportunities for growth.
San Diego Dispensary Sale Finalized
On August 11, 2025, BaM’s wholly owned subsidiary, DEP Nevada, Inc., signed an Asset Purchase Agreement with OTC Miramar, LLC to sell all assets in NMG San Diego LLC, the operator of the Body and Mind San Diego dispensary. The deal was valued at US$1.6 million in cash, with $100,000 received as a deposit.
Long Beach Location Sold Earlier in 2025
In April, DEP agreed to sell NMG Long Beach, LLC, the company’s Long Beach dispensary, to SGC Retail Partners, LLC for US$856,250 in cash, including a $100,000 deposit.
Nevada Operations Divestment Completed
BaM also completed the previously announced sale of Nevada Medical Group, LLC, which included cultivation and production facilities. Initially valued at $2 million, the transaction was amended and reassigned, resulting in a revised purchase price of $400,000. As part of the agreement, the buyer secured a 99-year trademark license to use the Body and Mind brand on cannabis products cultivated and produced in Nevada.
Lynwood, Illinois Dispensary Opened as Part of Strategic Plan
Earlier in 2025, BaM opened its Lynwood, Illinois dispensary at the intersection of Glenwood Dyer Road and Torrence Avenue. The Grand Opening event took place on April 12 and was attended by local officials and community members. The location was developed as part of BaM’s strategy to strengthen its retail presence in Illinois, one of its key target markets.
While the company later announced plans to sell the Lynwood store (January 30, 2025), it continues to operate the location pending regulatory approval of the transaction. This move aligns with BaM’s broader approach of reallocating resources to the most profitable opportunities while divesting select assets.
Financial Statement Progress
The company has also provided updates on its delayed annual financial statements for the fiscal year ended July 31, 2024. The audit is in its final stages, with completion expected in compliance with applicable regulatory requirements.
Rita Ferreira
Rita is a seasoned writer with over five years of experience, having worked with globally renowned platforms, including Forbes and Miister CBD. Her deep knowledge of hemp-related businesses and passion for delivering accurate and concise information distinguish her in the industry. Rita's contributions empower individuals and companies to navigate the complexities of the cannabis world, and her work remains a valuable resource for those seeking a deeper understanding of its potential.
