The multistate cannabis operator, Body and Mind Inc. BAMM BMMJ on Tuesday announced its plans to enter Michigan's vibrant cannabis market with a fully funded dispensary, as well as cultivation and production facilities.
Through wholly owned subsidiaries, Body and Mind, which has been ramping up its operations and opportunities in the U.S. cannabis space over the past year, said it will leverage its expertise of navigating an often complex process by adding Michigan to its growing list of license successes.
Body and Mind is headquartered in Las Vegas, Nevada and Vancouver, British Columbia.
Michigan's Lucrative Cannabis Market
“The billion-dollar Michigan market continues to break sales records on a consistent basis, and the decision to duplicate our successful vertically integrated model in such a thriving cannabis market was an easy one to make,” said Michael Mills, CEO of Body and Mind.
“Our team has been successful with securing locations for each facility and our license team has finalized local and state preapproval licenses for the dispensary, cultivation and production operations. We continue to assess numerous opportunities to bring the Body and Mind brand, award-winning product line and vertical expertise to the Michigan market and beyond.”
What To Expect In Michigan
Cultivation, Production Facilities
Body and Mind has leased a commercial building in Manistee, Michigan to develop a cultivation facility with 50,000 square feet of canopy as well as a production facility. Architectural plans are complete for phase one, which is planned for 20,000 square feet of canopy, 5,000 square feet of processing and 5,000 square feet of multi-use and office space. The second phase of development is planned for 30,000 square feet of canopy.
“Body and Mind has years of cultivation experience and strong genetics that we believe will be well received by the Michigan market. In addition, our cultivation team continues to develop new genetics that complement our award-winning flower and concentrates that we plan to introduce to the Michigan market,” said Trip Hoffman, COO of Body and Mind.
A Dispensary In Muskegon
Body and Mind will set up its first social equity licensed dispensary on a main thoroughfare in Muskegon.
“Body and Mind excels at building community, and we are highly confident that we can partner with the City of Muskegon to utilize its social equity program to build awareness and financial assistance to the disproportionately affected minority community and individuals,” Hoffman said.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Meet the biggest cannabis industry players and make deals that will push the industry forward.
Featuring live company presentations, insider panels, and unmatched access to networking, the Benzinga Cannabis Capital Conference is where cannabis executives and entrepreneurs meet.
Join us September 13-14, 2022 at The Palmer House in Chicago, IL.