Multistate cannabis company, Body and Mind Inc (OTCMKTS:BMMJ), on April 18, 2022, provided an update on the construction progress of the new Body and Mind-branded dispensary in Markham, Illinois. The company also gave an update on the divestment of its dispensary in Michigan, owned through its wholly owned subsidiary, DEP Nevada Inc.
Michael Mills, CEO of Body and Mind said that the company is excited about receiving the temporary occupancy permit for the Markham dispensary. Mills added that the firm is expecting to open the first Illinois dispensary within the next few weeks. The CEO further stated that the development team has finished the buildout within tight timelines and budgets. He also said that the company’s managers and leaders have been instrumental in helping set up, marketing as well starting new operations.
The company is hoping to provide cannabis knowledge, exceptional customer service as well as product selection to the Markham area. Its dispensary and other assets in Illinois and New Jersey are some of itsnear-term future endeavors. Body and Mind are implementing a definitive agreement for divesting the Michigan Body and Mind dispensary to a third party.
The third-party purchaser will manage the dispensary while the parties pursue approval of the change of control. The firm has options for the acquisition of a Body and Mind-branded dispensary in Markham, Illinois.