Body and Mind Announces Delay in Filing Annual Financial Statements

Las Vegas, Nevada and Vancouver, British Columbia--(Newsfile Corp. - November 29, 2024) - Body and Mind Inc. (CSE: BAMM) (OTC Pink: BMMJ) (the "Company" or "BaM") wishes to announce that its annual financial statements for the year ended July 31, 2024, including the related management discussion and analysis, and certifications of the Chief Executive Officer and Chief Financial Officer (collectively, the "2024 Annual Financial Filings") will not be filed as required under Canadian securities legislation by the required filing deadline of November 28, 2024.

In discussion with its auditors, the Company has determined that it is not able to meet the November 28, 2024 filing deadline (the "Filing Deadline") under Canadian securities legislation for the 2024 Annual Financial Filings. Although the audit process is substantially complete, the additional financial procedures include (i) final approval of an external accounting memorandum for the auditor, (ii) application of additional audit procedures (as needed) to assess independent conclusions, and (iii) final internal QC sign-off from the auditor. Therefore, the Company is not able to meet the Filing Deadline for the 2024 Annual Financial Filings. The Company is in the process of engaging an external accounting consultant to add to the Company's resources in order to achieve future filing deadlines.

The Company has applied to the applicable Canadian securities regulatory authorities and received a management cease trade order related to the Company's securities to be imposed against the Chief Executive Officer and Chief Financial Officer of the Company to trade securities of the Company. The management cease trade order will be in effect until the 2024 Annual Financial Filings are filed, and requires that the 2024 Annual Financial Filings be filed on or around December 9, 2024.

Until the 2024 Annual Financial Filings are filed, the Company intends to provide information in accordance with National Policy 12-203 Management Cease Trade Orders.

About Body and Mind Inc.

BaM is an operations-focused cannabis company which operates retail cannabis dispensaries in California and Illinois, and pending retail operations in Illinois and New Jersey. We work daily to increase our market share through delighting customers while also continuing to hone our operational efficiencies to drive profits. We are primarily guided by the metric of return on investment. Currently, we believe the most significant return on investment projects in front of us are successful retail cannabis store launches in Illinois and New Jersey, which augment our existing retail footprint.