Body and Mind

What Body and Mind does

Body and Mind Inc. (formerly DEP Nevada, Inc.) is a publicly traded multi-state cannabis operator headquartered at 6420 Sunset Corporate Drive in Las Vegas, Nevada, with a corporate office in Vancouver, British Columbia. The company is listed on the Canadian Securities Exchange under BAMM and on OTC Pink (Expert Market) under BMMJ. Body and Mind operates retail cannabis dispensaries in California — The Reef Seaside (1900 Fremont Blvd, Seaside), BaM Long Beach (34411 E Anaheim St), and BaM San Diego (7625 Carroll Rd, pending divestiture) — and in Ohio (709 Sugar LN, Elyria), serving both adult recreational consumers aged 21+ and medical marijuana patients with qualifying conditions. The product portfolio spans flower, concentrates, edibles, vapes, topicals, and pre-rolls sourced from third-party brands and supplemented with proprietary branded edibles (Pretzel Bites, Krispy Bites, and Cookie and Cream Chocolate Bites, each at 10MG THC per serving). The company also operates a cannabis education content library covering strains, terpenes, cannabinoids, and state regulation.

Commercial activity runs through owned physical dispensary storefronts plus a website-based online ordering platform offering express pickup and delivery, with daily happy hour deals, first-time order discounts, and other promotions. Customer acquisition relies on content marketing (cannabis education, state-specific regulation guides), organic social media presence across Instagram, Twitter, YouTube, and LinkedIn, and community events including a monthly farmer's market at the San Diego location. The primary operating subsidiary, DEP Nevada, Inc., handles dispensary operations under state-level cannabis licensing.

Between 2021 and 2026, Body and Mind pursued an expansion-then-consolidation strategy. It financed growth with approximately US$29.5 million across multiple rounds, including an US$11.1 million debt facility with FocusGrowth Asset Management, LP (July 2021) and a US$3.0 million convertible debenture with Bengal Impact Partners and Mindset Capital (December 2022), supplemented by smaller raises in 2018, 2020, 2021, and 2024. The company acquired CraftedPlants NJ in December 2022 to enter New Jersey, but subsequently divested from New Jersey, Illinois (two stores), and San Diego between 2025 and 2026 for approximately US$6.1 million in combined proceeds, refocusing the business on its California core. Leadership comprises President and CEO Michael Mills and board member Josh Rosen of Bengal Capital.

Name

Body and Mind

Legal name

Body and Mind, Inc.

Website

https://bodyandmind.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

Body and Mind is a publicly traded multi-state cannabis operator that owns and operates retail cannabis dispensaries in California and Ohio, selling flower, concentrates, edibles, vapes, topicals, and proprietary branded edibles to adult recreational consumers and medical marijuana patients via storefronts and online ordering.

Ownership category

akta.pro rank

Product category

Cannabis Retail Dispensary

NAICS

Tobacco, Electronic Cigarette, and Other Smoking Supplies Retailers (459991)

SIC

Retail-Drug Stores And Proprietary Stores (5912)

akta.pro primary industry

Cannabis Dispensary + Delivery/Online Pickup (Omnichannel Retail) (CRANAFAG)

akta.pro secondary industries

Adult-Use (Recreational) Cannabis Dispensaries (CRANAFAA), Medical Cannabis Dispensaries (CRANAFAB)

Keywords

• Cannabis retail dispensary
• Recreational cannabis sales
• Medical marijuana dispensary
• Cannabis cultivation processing
• Cannabis infused edibles

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Retail Cannabis Dispensary Sales: Body and Mind generates revenue through retail sales of cannabis products including flower, concentrates, edibles, vapes, topicals, and pre-rolls at their dispensary locations. Products are sold directly to consumers aged 21+ (recreational) and medical marijuana patients with qualifying conditions. The company also offers online ordering with express pickup and delivery services.
2. Dispensary Divestment Transactions: The company has engaged in divestment transactions of cannabis dispensary assets, including the sale of BaM Body and Mind Dispensary NJ (New Jersey) to Ascend New Jersey LLC and San Diego dispensary to OTC Miramar LLC, generating cash proceeds from equity sales.
3. Illinois Dispensary Transactions: The company closed Illinois dispensary transactions (NMG IL 4 and NMG IL 1) with earnout provisions tied to 3.2 times Earnout Period EBITDA, generating cash proceeds from sale of equity interests.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Body and Mind operates retail cannabis dispensaries in California that sell naturally grown, handcrafted small-batch cannabis products including flower, concentrates, edibles, vapes, topicals, and pre-rolls to adult recreational consumers (21+) and medical marijuana patients. Customers can browse and order products through an online ordering platform for express pickup or delivery, with first-time order discounts and daily happy hour deals. The company also offers a proprietary line of branded THC-infused edibles (Pretzel Bites, Krispy Bites, Cookie and Cream Chocolate Bites) and a multi-state cannabis education content platform.

Product overview

Body and Mind (BaM) is a multi-state cannabis retail company operating dispensaries across California, Nevada, Ohio, Illinois, and New Jersey. The core offering is a retail dispensary platform — both physical dispensary locations and an online ordering/express pickup system — through which it sells a curated selection of cannabis products including flower, concentrates, edibles, vapes, and topicals. The product portfolio includes proprietary branded edibles (Pretzel Bites, Krispy Bites, Cookie and Cream Chocolate Bites) alongside third-party brands. The company also operates an educational platform covering cannabis strains, terpenes, regulations, and usage guidance. Geographic footprint has been expanded and contracted through acquisitions (CraftedPlants NJ in 2022) and divestitures (San Diego, Illinois, and New Jersey operations through 2025–2026).

Differentiator

Problem solved

Functional benefit

Brands

• Pretzel Bites: Cannabis-infused edible product featuring pretzel with chocolate and caramel coating
• Krispy Bites
• Cookie and Cream Chocolate Bites
• The Reef Seaside Dispensary & Weed Delivery
• BaM Long Beach
• BaM San Diego

Products and services

• BaM Retail Dispensary Operations Body and Mind operates retail cannabis dispensaries in California offering a curated selection of naturally cultivated cannabis products including flower, concentrates, edibles, vapes, and topicals, with online ordering for express pickup. The dispensaries serve both adult recreational consumers (21+) and medical marijuana patients with physician recommendations.
• Online Ordering / Express Pickup Body and Mind's website-based online ordering platform enables customers to browse and purchase cannabis products for express in-store pickup and delivery from its California dispensary locations, with special discounts for first-time online orders and daily happy hour deals.
• The Reef Seaside Dispensary & Weed Delivery The Reef is Body and Mind's California dispensary located at 1900 Fremont Blvd, Seaside, CA 93955, offering in-store cannabis retail and weed delivery services to adult recreational consumers and medical marijuana patients.
• Pretzel Bites (cannabis edible) A Body and Mind branded cannabis edible product featuring pretzel pieces with caramel filling and a chocolate coating, infused with 10mg of THC per serving, sold through Body and Mind dispensaries.
• Krispy Bites (cannabis edible) A Body and Mind branded cannabis edible with a crispy and gooey texture, infused with 10mg of THC per serving, sold through Body and Mind dispensaries as part of its branded edible product line.
• Cookie and Cream Chocolate Bites (cannabis edible) A Body and Mind branded cannabis edible combining white chocolate with cookie crumbles, infused with 10mg of THC per serving, described as the latest offering in Body and Mind's featured edibles line and sold through its dispensaries.

Quantifiable outcome

• Every batch undergoes rigorous lab testing to ensure it meets highest standards and is free of contaminants

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature1 record

Partnerships

Two partnerships are on record, tiered minor.

• Ascend New Jersey, LLCminorChannel Partner/ Reseller/ Distributor · 27 August 2025Purchaser of Body and Mind's New Jersey dispensary operations (BAM NJ). Acquired equity interests resulting in 35% ownership, with a social equity partner taking 65%. Total consideration of $2.0 million including $1M escrow.
• OTC Miramar, LLCminorChannel Partner/ Reseller/ Distributor · 11 August 2025Purchaser of Body and Mind's San Diego dispensary assets (60% of NMG San Diego LLC). Asset purchase agreement for total consideration of $1.6 million in cash, with $100,000 deposit already paid.

Scale indicators7 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• Columbia Care (now The Cannabist Company): Multi-state cannabis operator with retail dispensaries and cultivation across the U.S. Direct competitor in adult-use and medical retail formats in markets overlapping with Body and Mind's historical footprint.
• Cresco Labs: Multi-state cannabis operator with retail dispensary and cultivation operations across several U.S. states. Comparable to Body and Mind as a publicly traded MSO with a multi-state retail and cultivation strategy, although at significantly larger scale.
• AYR Wellness: Vertically integrated multi-state cannabis operator with retail dispensaries across several U.S. states. Operates in comparable adult-use and medical markets to Body and Mind and shares the small-to-mid-cap MSO profile.
• Verano Holdings: Vertically integrated multi-state cannabis operator with retail dispensaries (Zen Leaf) and cultivation across multiple states. Comparable retail dispensary footprint and product mix to Body and Mind, though materially larger.
• Green Thumb Industries: U.S. multi-state cannabis operator with retail dispensary (Rise) and consumer packaged goods brands. Directly comparable to Body and Mind in retail-and-brand strategy, but at substantially larger scale and broader geographic reach.
• Ascend Wellness Holdings: Multi-state cannabis operator with retail, cultivation, and wholesale operations in limited states. Comparable in size and strategy to Body and Mind as a smaller-cap public MSO, and notably the parent of Ascend New Jersey LLC, which acquired Body and Mind's NJ dispensary.

Broad incumbents

• Trulieve Cannabis: Large U.S. multi-state cannabis operator with retail and cultivation, including presence in California and Ohio. Provides a scaled benchmark for Body and Mind's California-plus-Ohio retail strategy.
• Curaleaf Holdings: Largest U.S. multi-state cannabis operator with extensive dispensary and cultivation footprint. Operates overlapping adult-use and medical dispensary formats and competes with smaller MSOs like Body and Mind for state licenses and shelf space.

Emerging players

• iAnthus Capital Holdings: Multi-state cannabis operator with retail and cultivation in limited U.S. states, similar in scale and capital-structure profile to Body and Mind. Comparable as a small-cap public MSO navigating capital constraints and selective state footprints.

Regional players

• Planet 13 Holdings: Nevada-anchored cannabis operator with a flagship Las Vegas SuperStore dispensary and ancillary operations. Comparable in product mix and premium positioning to Body and Mind's dispensary concept, though concentrated in Nevada rather than California.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

• Xx.com/bodyandmindBAM
• YouTubeyoutube.com/channel/UCgS9wu3dgL_G-LKUeRzHbeg
• LinkedInlinkedin.com/company/bodyandmindbam
• Instagraminstagram.com/bodyandmindbam

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries4 records

Funding overview

Funding rounds7 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Body and Mind