Body and Mind Raises $14.7 Million Selling Units at $1.25 – New Cannabis Ventures

Body and Mind Completes Oversubscribed CAD$10 Million Financing

Vancouver, British Columbia–(Newsfile Corp. – May 20, 2019) – Body and Mind Inc. (CSE: BAMM) (OTC Pink: BMMJ) (“BaM” or the “Company”), a multi-state operator with assets in Nevada, California, Ohio and Arkansas, is pleased to announce it has closed its previously announced private placement offering with M Partners Inc., as lead agent, together with a syndicate of agents including PI Financial Corp. (collectively, the “Agents”), for 11,780,904 units of the Company (the “Units”) at a price of CAD$1.25 per Unit for gross proceeds of CAD$14,726,130 (the “Offering”).

The financing was originally planned for gross proceeds of up to CAD$10 million and we are extremely pleased with the increased interest which will allow us to accelerate our growth as a multi-state operator. We have developed multiple platforms to leverage our significant cannabis experience in Nevada and expand our quality brands.

Robert Hasman, President of Nevada Medical Group and a director of BaM

We look forward to advancing our numerous projects including facility expansion and construction, optimization, state licensing opportunities and acquisitions.

Each Unit is comprised of one common share of the Company (each, a “Share”) and one common share purchase warrant of the Company (each, a “Warrant”). Each Warrant entitles the holder thereof to acquire one common share of the Company (each, a “Warrant Share”) at an exercise price of CAD$1.50 per Warrant Share for a period of 48 months following the closing date, subject to adjustment in certain events.

The Agents received a cash commission on the sale of the Offering to non-U.S. persons of CAD$793,937.50. The Agents also received as additional consideration 635,150 non-transferable broker warrants (each, a “Broker Warrant”). Each Broker Warrant entitles the holder thereof to acquire one Unit of the Company

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