LOS ANGELES--(BUSINESS WIRE)--
MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX:
MMNFF) (FSE: A2JM6N) is pleased to announce that it has closed its
previously announced acquisition (the “Acquisition”) of a dispensary
license in Emeryville, California from B12, LLC.
Pursuant to the Acquisition, the Company paid a combination of cash at
closing and shares of MedMen in an undisclosed amount.* The transaction
closed within 90 days of signing.
With the closing of the Acquisition, MedMen will have one of only two
adult-use cannabis dispensary licenses issued in the City of Emeryville,
just outside San Francisco. MedMen currently operates eight dispensaries
in Southern California. The Emeryville dispensary will be located in the
commercial heart of the East Bay and is expected to open in 2019.
*The Company does not disclose deal values for transactions it deems
immaterial from a purchase price standpoint.
MedMen’s National Expanding Footprint and Operational Status
MedMen just brought another asset online bringing the number of
currently operational assets to 20. Also, in the last month MedMen
acquired additional licenses in Arizona.
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State
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Retail
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Cultivation/Manufacturing
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Facilities
Permitted Under
Licenses
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Currently
Operational
Facilities*
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Facilities
Permitted
Under Licenses
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Currently
Operational
Facilities*
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Arizona
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3
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1
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4
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1
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California
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11
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8
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2
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0
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Florida
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30
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0
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1
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1
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Illinois
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5
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0
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2
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0
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Maryland
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1
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0
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0
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0
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Massachusetts
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3
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0
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1
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0
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Michigan
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1
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0
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0
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0
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Nevada
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3
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3
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1
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1
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New York
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8
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4
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2
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1
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Ohio
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1
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0
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1
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0
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Pennsylvania
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3
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0
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1
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0
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Virginia
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1
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0
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1
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0
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TOTAL:
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70
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16
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16
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4
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Notes:
*Includes two "Powered by MedMen" stores - stores not yet MedMen
rebranded but owned by MedMen Enterprises, LLC ("the Company"). Also,
includes four stores managed by MedMen but not owned by the Company.
The chart includes licenses to be acquired through the announced
PharmaCann transaction and recently closed and recently announced
license acquisitions in Arizona, Illinois and San Jose Area. Through the
acquisition of PharmaCann, MedMen will own an additional twenty-five
licenses across 12 states (permitting operation of an additional 18
retail facilities and 7 cultivation/manufacturing facilities). Those 12
states comprise approximately 50% of the total U.S. population.
ABOUT MEDMEN:
MedMen Enterprises is a leading cannabis company in the U.S. with assets
and operations nationwide. Based in Los Angeles, MedMen brings expertise
and capital to the cannabis industry and is one of the nation’s largest
financial supporters of progressive marijuana laws. Visit http://www.medmen.com.
SOURCE: MedMen Enterprises
View source version on businesswire.com:
https://www.businesswire.com/news/home/20181211005305/en/
MEDIA CONTACT:
Briana Chester
Senior Publicist
Email:
briana.chester@medmen.com
(424)
888-4260
INVESTOR RELATIONS CONTACT:
Stéphanie Van Hassel
Head
of Investor Relations
Email: investors@medmen.com
(323)
705-3025
Source: MedMen Enterprises