secwatch.observer — SEC 8-K summary
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Issuer:     BODY & MIND INC. (—)
CIK:        0001715611
Form:       8-K
Filed at:   2022-12-23T23:59:59+00:00
Accession:  0001640334-22-002710
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Body and Mind obtains limited loan default waiver; completes $3M convertible debenture financing
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- Loan parties failed to deliver audited FY2022 annual and Q1 FY2023 quarterly financials; granted limited waiver with deadlines extended to Jan 17 and Jan 27, 2023.
- Issued $3M unsecured 5-year convertible debentures at 8% interest, convertible at $0.10/share; also warrants for 15M shares at $0.10.
- Existing lender FG Agency Lending consented to merger with CraftedPlants NJ Corp and to the convertible financing; new debt subordinated to existing loan.
- Loan amended to include $35k waiver fee, $10k monthly fee from Jan 2023, restrictions on consulting payments to Bengal Impact Partners, and delisting as event of default.
- Company required to receive at least $3M cash proceeds from SPAs; proceeds used for business development and merger.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1715611/000164033422002710/0001640334-22-002710-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1715611/000164033422002710/bmmj_8k.htm
  HTML page:      https://secwatch.observer/filing/0001640334-22-002710

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