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Body & Mind ( (TSE:BAMM) ) has issued an update.
Body and Mind Inc. has announced an agreement to divest its interests in New Jersey by selling its wholly owned subsidiary, BAM NJ, to Ascend New Jersey, LLC and a social equity partner. This transaction, valued at $2 million, will see Ascend owning 35% and the social equity partner owning 65% of BAM NJ, potentially impacting Body and Mind’s strategic positioning in the cannabis market by reallocating resources and focusing on other regions.
More about Body & Mind
Body and Mind Inc. operates in the cannabis industry, focusing on the development and operation of cannabis cultivation, production, and retail facilities. The company is engaged in providing high-quality medical and recreational cannabis products to its customers.
Technical Sentiment Signal: Sell
Current Market Cap: C$3.69M
Learn more about BAMM stock on TipRanks’ Stock Analysis page.