NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
VANCOUVER, British Columbia, Jan. 15, 2018 (GLOBE NEWSWIRE) -- Body and Mind Inc. (CSE:BAMM) (US OTC:BMMJ), (the
“Company” or “BAM”) further to its news release of December 21, 2017, herein provides an update on the transaction
as it relates to the Letter of Intent (“LOI”) signed with Friday Night Inc. (“TGIF”). The Company’s common shares issued and
outstanding at the date of signing the LOI was 47,704,269. On December 20, 2017, the date the LOI was executed, the closing share
price of Friday Night Inc. was CAD $1.00 per share. Based on the foregoing, the LOI contemplated an implied value of BAM shares of
CAD$2.40 per share on an exchange basis. As a result of the negotiations between the parties the implied value of the BAM
shares will be adjusted to an implied value of CAD$1.65 per share or a ratio of 1.65:1 for each BAM share held. The board and
management of BAM remains supportive of the transaction notwithstanding the adjustment to the exchange and anticipates entering
into a definitive agreement imminently. The transaction remains subject to shareholder approval and any required regulatory or
exchange approvals.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information regarding Body and Mind Inc. please contact:
Darren Tindale
604-376-3567
stonerockltd@gmail.com
Notice regarding Forward Looking Statements: This news release contains
forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project",
"should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that
the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be
placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since
forward-looking statements address future events and conditions, by their very nature they involve inherent risks and
uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those
currently anticipated due to a number of factors and risks including the inability of the Company to obtain shareholder and
exchange approval, or to raise additional equity as well as the various risk factors discussed in the Company's disclosure
documents, which can be found under the Company's profile on www.sedar.com. Body and Mind Inc. undertakes no obligation to update
publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as
required by law or the Canadian Securities Exchange.
We seek safe harbour.