MedMen Announces Acquisition of Florida Marijuana License and Cultivation Facility

MedMen Enterprises Inc. (CSE: MMEN), the nation’s top cultivator, manufacturer and retailer of state-sanctioned cannabis, today announced that it has signed a definitive agreement to acquire dispensary and cultivation assets from Florida based Treadwell Simpson Partnership and affiliates.

As part of this transaction, MedMen will acquire Treadwell Nursery’s cultivation facility situated on 5 acres in Eustis, Florida and the right to start 25 medical marijuana dispensaries in the State of Florida.

“For nearly a decade we’ve been positioning ourselves to capitalize on huge market opportunities such as this,” stated MedMen Co-founder and CEO Adam Bierman. “This acquisition is right in line with our strategy of establishing a presence early on in high potential markets with restricted licenses and massive populations. Florida is the third most populous state in the nation with a medical marijuana market estimated to reach $1 billion in annual sales by 2020. MedMen has assembled the best-in-class brand, and we continue to invest in premium assets that solidify our dominant position in the most crucial cannabis markets in the world. ”

MedMen employs more than 800 people and now operates 18 licensed cannabis facilities in farming, production andretail in California, Nevada and New York. The addition of Florida expands the Company’s reach to yet another key market in the fastest growing sector in the nation.

In respect of the cash consideration, the LLC will pay Treadwell Nursery US$6,625,000 on the closing date and on each of the dates that are three (3), six (6) and nine (9) months after the closing date. In regard to the Redeemable Units, the number of units will be determined by the lesser of the closing trading price of the Subordinate Voting Shares on the Canadian Securities Exchange at June 4, 2018 or the two-week weighted average daily closing price prior to the closing of the transaction.

The transaction is expected to close within 90 days and is subject to customary closing conditions, including receipt of state regulatory approvals. If certain regulatory approvals are not obtained, the organization and Treadwell Nursery will have the right to terminate the Agreement.

Conference Call/Presentation

MedMen management will host a conference call, which will be webcast live, on Thursday, June 7, 2018 at 9:00 a.m. EST to discuss the acquisition. Participation details and a slide presentation about the transaction will be available on the investor section of the Company’s website at shortly.

About MedMen

MedMen is the preeminent cannabis Company in the United States with several resources and operations in California, Nevada and New York, which combined account for nearly half of North America’s addressable legal market. MedMen owns and operates licensed cannabis facilities in farming, production and retail, and is one of the most well recognized cannabis brands in the world today. Headquartered in Los Angeles, MedMen employs more than 800 people across the United States. The predecessor to MedMen was founded in 2010 by Adam Bierman and Andrew Modlin, two visionary entrepreneurs who saw not only a tremendous business opportunity in the growing legalization of marijuana, but a opportunity to re-define our society’s relationship with cannabis. MedMen supports sensible, clear and only drug laws. The Company is the single biggest financial supporter of progressive marijuana laws at the local, state and federal levels, giving directly to pro-legalization groups, industry organizations and political candidates. For more information, visit or follow us on Facebook, Twitter or Instagram.


Published at Wed, 06 Jun 2018 14:47:44 +0000

Posted in: News

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