43% year-over-year growth and continued positive operational cashflow

Management to host earnings call December 17th

LAS VEGAS and VANCOUVER, BC, Dec. 16, 2021 /CNW/ – Body and Mind Inc. (CSE: BAMM) (OTCQB: BMMJ) (the “Company” or “BaM”), a multi-state operator, is pleased to report its financial results for the first fiscal quarter ended October 31, 2021.

Body and Mind Inc. Logo (CNW Group/Body and Mind Inc.)

Q1 FY2022 Financial Summary (results expressed in $USD unless otherwise indicated):

Reported Q1 FY2022 revenue of $7.57 million a 43% increase over Q1 FY2021 revenue of $5.29 million;

Q1 FY2022 Gross profit of $3.49 million a 94% increase over Q1 FY2021 results of $1.8 million;

Q1 FY2022 Net Operating Profit of $0.32 million;

Q1 FY2022 Net Loss of $0.68 million;

Basic and Diluted loss per share of $0.01;

Positive Adjusted EBITDA of 0.82 million*;

Inventory of $3.37 million as of October 31, 2021;

At October 31, 2021, BaM had $7.43 million in cash and a working capital surplus of $8.36 million;

Total Assets were $48.98 million, Total Current Liabilities were $6.65 million and Total Liabilities were $14.58 million at October 31, 2021;

110,621,308 shares of common stock outstanding as of October 31, 2021 (113,349,464 as of December 14, 2021).

Operational Milestones for Q1 FY2022:

California:

Definitive agreement entered for acquisition

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