Body and Mind closes $421K private placement




News Release

BODY AND MIND ANNOUNCES CLOSING OF PRIVATE PLACEMENT OF UNITS

VANCOUVER, BC, December 1, 2017 – Body and Mind Inc. (“Body and Mind” or the “Company”) is pleased to announce that further to its news release dated November 22, 2017, it has closed a non-brokered private placement of 637,393 units (the “Units”) at a price of CDN $0.66 per Unit for aggregate gross proceeds of up to CDN $420,680 (the “Offering”). The net proceeds of the Offering will be used for general working capital of the Company.

Each Unit consists of one common share in the capital of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one additional common share in the Capital of the Company (a “Warrant Share”) at a price of CDN $0.90 per Warrant Share for a period of 24 months from the closing of the Offering. Each Warrant is subject to acceleration provisions following the six-month anniversary of the date of closing of the Offering, if the closing trading price of the Shares on the Canadian Securities Exchange (the “Exchange”) is equal to or greater than CDN $1.20 for seven consecutive trading days, at which time the Company may accelerate the expiry date of the Warrants by issuing a press release announcing the reduced warrant term whereupon the Warrants will expire 21 calendar days after the date of such press release.

The Offering was completed on a non-brokered basis and no finder’s fees were paid. All securities issued pursuant to the Offering are subject to a statutory hold period under applicable Canadian and United States securities laws for a minimum hold period of four months and one day after the date of issuance in accordance with applicable securities legislation. The securities are also subject to a mandatory hold period of six months and one day after the date of issuance.

The securities referenced herein have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registrations or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

For further information please contact:
Darren Tindale, CFO
Body and Mind, Inc. Email: stonerockltd@gmail.com