Go back Corporate News

BODY AND MIND INC. AND FRIDAY NIGHT INC. AGREE TO TERMINATION OF LOI

Body and Mind
Body and Mind February 21, 2018

VANCOUVER, B.C., CANADA (February 21, 2018) – Body and Mind Inc. (CSE: BAMM, US OTC: BMMJ), (the “Company” or “BAM”) today announced that the Company and Friday Night Inc. (“TGIF”) have mutually agreed to terminate a letter of intent (“LOI”) dated December 20, 2017 whereby TGIF was to acquire BAM in an all‐stock transaction. After careful review of the transaction and current market conditions, BAM and TGIF have determined the acquisition of BAM by TGIF under the terms of the LOI would not be in the best interests of shareholders, and as a result, the LOI has been terminated by both parties.

Friday Night Inc. CEO Brayden Sutton commented, “Recent market events out of our control turned the BAM acquisition into a moving target. To keep renegotiating terms and delaying the closing date is not fair to shareholders on either side, all the while both companies may be missing other opportunities.”

Body and Mind Inc. CEO Leonard Clough commented, “Market conditions and the revised consideration proposal to our shareholders played a role in the decision to mutually terminate the proposed amalgamation plan.”

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:

Darren Tindale 604‐376‐3567

stonerockltd@gmail.com

Notice regarding Forward Looking Statements: This news release contains forward‐looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward‐looking statements. Although the Company believes that the expectations and assumptions on which the forward‐looking statements are based are reasonable, undue reliance should not be placed on the forward‐looking statements because the Company can give no assurance that they will prove to be correct. Since forward‐looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including the inability of the Company to obtain shareholder and exchange approval, or to raise additional equity as well as the various risk factors discussed in the Company’s disclosure documents, which can be found under the Company’s profile on www.sedar.com. Body and Mind Inc. undertakes no obligation to update publicly or revise any forward‐looking information, whether as a result of new information, future events or otherwise, except as required by law or the Canadian Securities Exchange.

We seek safe harbour.

Body and Mind
Body and Mind February 21, 2018

Related Articles

  • Corporate News

    Body and Mind Announces Q2 2024 Financial Results

    Las Vegas, NV and Vancouver, B.C., Canada (March 26, 2024) – Body and Mind Inc. (CSE: BAMM, OTCQB: BMMJ) (the “Company” or “BaM”), a multi-state operations-focused cannabis company, is pleased to announce its financial results for the second quarter of fiscal year 2024 ended January 31, 2024 and to provide shareholders with an operational update.…

    Body and Mind · March 26, 2024
  • Corporate News

    Body and Mind Provides Update on Optimization Initiatives

    Las Vegas, NV and Vancouver, B.C., Canada (February 1, 2024) – Body and Mind Inc. (CSE: BAMM, OTCQB: BMMJ) (the “Company” or “BaM”), a multi-state operations-focused cannabis company, is pleased to announce updates on its dispensary development schedules and the divestment of the Company’s cultivation and processing operations in Nevada, which is owned through the…

    Body and Mind · February 1, 2024
  • Corporate News

    Body and Mind Awarded State Approval for New Jersey Dispensary

    Las Vegas, NV and Vancouver, B.C., Canada (January 23, 2024) – Body and Mind Inc. (CSE: BAMM, OTCQB: BMMJ) (the “Company” or “BaM”), a multi-state operations-focused cannabis company, is pleased to announce the State of New Jersey Cannabis Regulatory Commission has approved the application for an Annual Class 5 Cannabis Retailer license to operate an…

    Body and Mind · January 23, 2024
image description