STAUNTON – Less than a month after Governor Northam signed the bill to legalize medical marijuana, the Virginia Board of Pharmacy voted to deny MedMen’s request for an extension and rescinded their conditional license to operate a medical marijuana dispensary in Staunton. The Board of Pharmacy voted to move forward for a Request For Applications […]
MedMen Enterprises Inc.
Is 2020 the Year of Cannabis Stock Bankruptcies?
Could some of the most popular pot stocks go belly-up? The table appeared set in 2019 for cannabis stocks to deliver significant sales growth and push toward recurring profitability. It was supposed to be the year when pot stocks proved to doubters that the cannabis industry wasn’t a fad, and that the pricey valuations bestowed […]
The Pot Stock Bubble Has Burst. Here’s Why
Wall Street’s exuberance over legal weed has quickly curdled into sober reality. In a matter of months, white-hot cannabis companies have flamed out in spectacular fashion. Many have lost two-thirds or more of their value. Widespread legalization has been thwarted. Bank financing has dried up. Deep-pocketed institutional investors remain on the sidelines and old-fashioned black-market […]
MedMen Announces Layoffs and Overall Plan to Achieve Positive EBITDA
PRESS RELEASE LOS ANGELES–(BUSINESS WIRE)–MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) (“MedMen” or the “Company”), a leading cannabis retailer with operations across the U.S., today announced a strategic plan (the “Plan”) to achieve its target of positive EBITDA by the end of calendar year 2020. The 90-day plan will focus on five key objectives: 1) […]
MedMen Announces US$250 Million Investment From Gotham Green Partners
PRESS RELEASE LOS ANGELES–(BUSINESS WIRE)–MedMen Enterprises Inc. (CSE:MMEN) (OTCQX:MMNFF) (FSE: A2JM6N) (“MedMen” or the “Company”), is pleased to announce that it has signed a binding term sheet for a senior secured convertible credit facility of up to US$250,000,000 (the “Facility”) from funds managed by Gotham Green Partners (“GGP” or the “Investor”), an investor in the […]
MedMen Completes Previously Announced Acquisition of Illinois Dispensary
PRESS RELEASE February 08, 2019 07:00 AM Eastern Standard Time 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 Seven Point, a licensed medical cannabis dispensary located in the historic Chicago suburb of Oak […]
One of MedMen’s Largest Outside Shareholders and Former Board Member, an Affiliate of The Inception Companies, Sues MedMen and Alleges Breach of Fiduciary Duty
PRESS RELEASE January 08, 2019 08:30 PM Eastern Standard Time LOS ANGELES–(BUSINESS WIRE)–This morning in the Superior Court of Los Angeles, California, The Inception Companies founders Brent Cox and Omar Mangalji (through an affiliated entity – MMMG-MC, Inc. – that holds a significant stake in MedMen’s management company MMMG, LLC) filed a complaint against Adam […]
MedMen Appoints Veteran Retail Finance Executive as Chief Financial Office
LOS ANGELES (December 6, 2018) – MedMen Enterprises Inc. (“MedMen”or the “Company”) (CSE: MMEN) (OTCQB: MMNFF) (FSE: A2JM6N) announced today the hiring of Michael W. Kramer, a veteran finance executive with a proven track record at retailers such as Apple Inc., Abercrombie & Fitch and Forever 21, as Chief Financial Officer. “Michael’s extensive financial and operational experience in retail and tech, and […]
MedMen Reports First Quarter Fiscal Year 2019 Financial Results
PRESS RELEASE November 29, 2018 04:02 PM Eastern Standard Time LOS ANGELES–(BUSINESS WIRE)–MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF) (FSE: A2JM6N), today released its consolidated financial results for the first quarter of fiscal 2019. All financial information for the three-month period ended September 30, 2018 is reported in U.S. dollars, unless otherwise […]
MedMen Hires Veteran HR Executive
PRESS RELEASE Clarence Foster brings more than 20 years of experience leading human resources at Nissan, Yamaha, L’Oreal, McDonald’s and ExxonMobil LOS ANGELES–(BUSINESS WIRE)–MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQB: MMNFF) (FSE: A2JM6N) today announced the hiring of Clarence Foster as its new senior vice president of human resources. Foster brings to […]
