Body and Mind has provided a progress report on its Phase II cultivation expansion in Las Vegas, Nevada. Additionally, the company announces a strategic engagement to advance the Ohio dispensary opportunity and expand Body and Mind product offerings.
Phase II expansion of the Nevada facility is nearing completion with the addition of three new flower rooms, an additional trim area, dry-room and expanded packaging area. The company will add approximately 40% more high pressure sodium lights to the facility and almost all interior construction and electrical work has been completed. All required external power was specified, permitted and installed last year and interior electrical permitting is anticipated by mid-July 2018. The ventilation and cooling will be controlled and monitored by a new facility-wide system which includes multiple sensors and proprietary feedback loops throughout all cultivation areas.
In addition to adding more cultivation space, the company has completed the installation of an automated watering system and is in the process of adding carbon dioxide delivery, monitoring and control systems throughout the facility.
Once final facility upgrades have been inspected by the State of Nevada, the company will proceed to move clones into the newly constructed space. Increased revenues from the new grow spaces are anticipated to be realized approximately 18 weeks from the completion date of Phase II through a full growing and production cycle.
Robert Hasman, Director of BAM, commented, "We've been focused on creating and supplying top quality cannabis and our award-winning genetics and products have been widely popular with the rapidly expanding recreational market. Our Phase II expansion had relatively low capital costs of approx. USD $500,000 and has proceeded both on time and on budget. We anticipate the expansion will allow us to cost effectively increase cultivation within our current facility by roughly 40% while continuing to deliver quality cannabis products."
The company has experienced strong demand for flower, extract and edible products. In an effort to meet this demand, the company has promoted Tanya Reyes as Kitchen Chef. "Tanya's passion for creating outstanding products combined with her experience as a commercial confectionary chef and past work with top tier food companies has been a huge asset to Body and Mind," stated Robert Hasman, Director of Body and Mind.
Cannabis sales in Nevada posted the largest monthly sales ever in March 2018 with over USD $41 Million in retail sales across the state. Limited licences in Nevada have prevented the market from being flooded with product and Body and Mind continues to have strong distribution and shelf space throughout Nevada.
In Ohio, the NMG Ohio partnership, of which BAM owns 30%, has engaged Rachel Rivera as an operational consultant for medical cannabis dispensary operations in Lorain county, northeastern Ohio. "Rachel was a pioneer in the Nevada medical cannabis market and brings significant experience in cannabis dispensary operations to our group." stated Robert Hasman, Director of Body and Mind. NMG Ohio is in the process of working with applicable state and local authorities to progress the medical cannabis dispensary license.
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