secwatch.observer — SEC 8-K summary
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Issuer:     BODY & MIND INC. (—)
CIK:        0001715611
Form:       8-K/A
Filed at:   2023-01-17T23:59:59+00:00
Accession:  0001640334-23-000057
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 issues $3M convertible debentures; obtains waiver on loan defaults until Jan 2023
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- Issued $3M convertible debentures (8% interest, $0.10 conversion, Dec 2027 maturity) and 15M warrants at $0.10.
- Received limited waiver for late annual (FY July 2022) and quarterly (Oct 2022) financials; deadlines extended to Jan 17 and Jan 27, 2023.
- Lender consented to merger with Craft (NJ dispensary) subject to conditions, including receipt of $3M cash from SPAs.
- Convertible debt subordinated to existing loan; Bengal Capital gets board nomination right if holds >=10% on as-converted basis.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1715611/000164033423000057/0001640334-23-000057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1715611/000164033423000057/bmmj_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001640334-23-000057

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer