Here’s some highlights from the interview:
When asked about why organic growth was strong, Mills indicated that growing in a measured way was Body and Mind’s focus. As an example, he pointed out some of the changes that have recently been taking place over at their Nevada cultivation facility. Mills said that after a look at the entire layout of the facility, they were able to make some renovations that would allow 20% more canopy. The additional revenue from the new flowering should be coming in this month.
There’s more growth potential for the company as they activate some of their licenses over the next four to six weeks. Mills says that Body and Mind expects to have their Arkansas cultivation permitted and ready to go, and they’re working on Ohio production in the not-too-distant future. The big benefit, of course, would be bringing the Body and Mind brand into these new states as well as supplying their dispensaries.
Larger growth opportunities, Mills says, would come from acquisitions, and he feels positive that Body and Mind’s good reputation as “strong operators and good folks to work with” brings attention and interest from a lot of different potential partners. Acquisitions, he acknowledges, are a great way to move revenue higher fairly quickly.
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