Body and Mind, otherwise known as BAM Marijuana, jumped at the chance to get a medical marijuana license in Nevada eighteen months ago. Quickly building out 20k square feet of canopy, the company has 70% penetration in Nevada dispensaries, a huge range of products, from dried flower to oils to edibles to vapes, and the top spot on Weedmaps’ brand ratings.
While the US weed space is deep with part-timers, enthusiasts, fly-by-nighters, and scoundrels, BAM shows what’s possible when a group takes a deliberate, professional, corporate approach to their brand, leading the company to approach breakeven point, even as it rapidly expands to fill an explosive industry need. To that end, the company has been called upon by regulators in other US states to provide information on how to properly set up, run, and oversee the industry as it expands.
BAM, which goes by the name Nevada Medical Group (NMG) in its day to day regulatory dealings, will roll into Deploy Technologies (DEP.C) as a shell, raising some $10 million along the way to finance growth in Nevada, both through facility expansion, new facility build-out, and acquisition.
More information can be found on the company news release of May 17.
BaM has several growth initiatives underway including new product introductions, product licensing, third party extraction, out-of-State licencing, and acquisitions.
It should come out the other side of that with around 60 million shares outstanding, post-consolidation, with 16m of those locked in on the BAM side.
CEO Robert Hasman talked to the Equity.Guru livestream Tuesday, where he laid out the nuts and bolts that are involved in the deal.
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— Chris Parry
FULL DISCLOSURE: Body and Mind is not an Equity.Guru marketing client, and the author holds not s but that may change in the near future