Market Overview

MedMen Stores Outperform in California, Build Leading Market Share


Enterprises Inc
. ("MedMen" or the "Company") (CSE:MMEN) (OTCQB: MMNFF) (FSE: A2JM6N) announced today that based on tax revenue numbers
reported recently by the State of California, MedMen stores accounted
for roughly six percent of all legal retail sales of cannabis and
cannabis products in the second quarter.

According to the California Bureau of Cannabis Control, there are
currently more than 400 licensed marijuana dispensaries across the
state. MedMen's eight stores represent about two percent of all
retailers, meaning on average MedMen stores outperform non-MedMen stores
by a factor of three.

The California Department of Tax and Fee Administration (CDTFA) reported
strong quarterly cannabis tax revenue growth in California in a press
issued on August 15, 2018. California's tax revenue from the
cannabis industry totaled $74.2 million for the second quarter of 2018,
including $43.5 million in excise taxes that were charged on all
cannabis and cannabis products sold by licensed retailers. Based on the
15 percent excise tax rate for marijuana, that equates to total sales of
approximately $290 million from April 1 to June 30 of this year. MedMen
recently reported preliminary unaudited systemwide retail revenue of
$17.4 million during the same period for seven of its stores in
California. MedMen Abbot Kinney, the company's eighth California store,
opened June 9.

"The strong growth in tax revenue in the second quarter of the year
shows that the legal cannabis industry is delivering on its promise of
economic activity and greater public resources to the people of
California," said Adam Bierman, MedMen chief executive officer and
co-founder. "We are proud of our contribution to the state and our
brand's phenomenal performance in the largest legal cannabis market in
the world."

MedMen operates
near Beverly Hills, Downtown Los Angeles, near LAX airport,
West Hollywood, Venice Beach, Abbot Kinney, Orange County and San Diego.
The company also operates stores in Nevada and New York, and has plans
to expand further in California, Florida, Massachusetts and Canada.


MedMen Enterprises is a leading cannabis company in the U.S. with assets
and operations across the country. 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.

SOURCE: MedMen Enterprises

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