Market Overview

MedMen Expands Market Share in California with Acquisition of Long Beach Retailer

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The Company Adds Flagship Location in Southern California's Third
Largest City

MedMen
Enterprises Inc
. ("MedMen" or the "Company") (CSE:MMEN) (OTCQX: MMNFF) announced that it has signed a definitive agreement to acquire a
100% stake in MattnJeremy, Inc. LLC d/b/a One Love Beach Club ("One
Love"). The acquisition further enhances MedMen's industry-leading
California footprint, adding a premier location strategically located
between its Santa Ana and LAX locations. One Love is currently on a
run-rate of approximately $6 million in unaudited gross revenue with an
unaudited EBITDA margin of approximately 29%.1

"We're excited to welcome Long Beach to the MedMen family and continue
our growth in the most important cannabis market in the world," said
Adam Bierman, MedMen CEO.

One Love was established in 2009 and is located at 2767 E Broadway in
Long Beach, a few blocks away from the beach between Downtown and
Belmont Shore. Located 20 miles south of Los Angeles, Long Beach is
Southern California's third largest city, behind Los Angeles and San
Diego, with just under a half-million residents. The coastal city offers
oceanfront hotels, attractions, events, shopping, recreational
activities, art and culture, restaurants and nightly entertainment. The
Long Beach Convention & Visitors Bureau estimated that more than 7.9
million visitors came to the city in 2018 to attend its attractions and
events.

"It has been an honor serving the Long Beach community over the past ten
years," said the Abrams Family, owner and operators of One Love. "We
look forward to MedMen continuing to provide our community with high
quality cannabis."

Transaction Details

As consideration for the transaction, the Company will pay $13 million,
of which $10 million will be satisfied in Class B Subordinate Voting
shares ("Shares"), $1 million in cash at closing and $2 million in
deferred cash. The transaction is subject to regulatory approvals by
local and state authorities and other customary closing conditions. The
Company expects the transaction to close within 45 days.

1. Based on unaudited financials provided by One Love.

ABOUT MEDMEN:

MedMen is a cannabis retailer with operations across the U.S. and
flagship stores in Los Angeles, Las Vegas and New York. MedMen's mission
is to provide an unparalleled experience that invites the world to
discover the remarkable benefits of cannabis because a world where
cannabis is legal and regulated is a safer, healthier and happier world.
Learn more at www.medmen.com.

Cautionary Note Regarding Forward-Looking Information and Statements

This press release contains "forward-looking statements" and
"forward-looking information" within the meaning of applicable
securities laws (collectively, "forward-looking information") with
respect to the Company, including, but not limited to: information
concerning the completion of the contemplated business combination with
PharmaCann, LLC, expectations regarding whether the contemplated
acquisition will be consummated, including whether conditions to the
consummation of the proposed acquisition of PharmaCann will be satisfied
and whether the proposed acquisition will be completed on the current
terms, the timing for completing the proposed acquisition of PharmaCann
and other pending acquisitions, expectations for the effects of the
proposed acquisition of PharmaCann and other pending acquisitions,
including the potential number and location of facilities and stores or
licenses therefor to be acquired, expectations regarding the markets to
be entered into by or expansion in current markets by the Company as a
result of completing such proposed acquisitions, the ability of the
Company to successfully achieve its business objectives as a result of
completing the contemplated acquisitions, estimates of future
cultivation, manufacturing and extraction capacity, store related
forecasts, including as to number of planned stores to be opened in the
future, and any other statement that may predict, forecast, indicate or
imply future plans, intentions, levels of activity, results, financial
position, operational or financial performance or achievements. Often,
but not always, forward-looking information can be identified by the use
of words such as "plans", "expects", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", will",
"projects", or "believes" or variations (including negative variations)
of such words and phrases, or statements that certain actions, events,
results or conditions "may", "could", "would", "might" or "will" be
taken, occur or be achieved. Except for statements of historical fact,
information contained herein constitutes forward-looking information.

Forward-looking information is not a guarantee of future performance and
is based upon a number of estimates and assumptions of management at the
date the statements are made including among other things assumptions
about: the contemplated acquisitions being completed on the current
terms and current contemplated timeline; development costs remaining
consistent with budgets; favorable equity and debt capital markets; the
ability to raise sufficient capital to advance the business of the
Company; favorable operating conditions; political and regulatory
stability; obtaining and maintaining all required licenses and permits;
receipt of governmental approvals and permits; sustained labor
stability; stability in financial and capital goods markets; favorable
production levels and costs from the Company's operations; the pricing
of various cannabis products; the level of demand for cannabis products;
and the availability of third party service providers and other inputs
for the Company's operations. While the Company considers these
assumptions to be reasonable, the assumptions are inherently subject to
significant business, social, economic, political, regulatory,
competitive and other risks and uncertainties, contingencies and other
factors that could cause actual performance, achievements, actions,
events, results or conditions to be materially different from those
projected in the forward-looking information. Many assumptions are based
on factors and events that are not within the control of the Company and
there is no assurance they will prove to be correct.

Furthermore, such forward-looking information involves known and unknown
risks, uncertainties and other factors which may cause the actual plans,
intentions, activities, results, financial position, performance or
achievements of the Company to be materially different from any future
plans, intentions, activities, results, financial position, performance
or achievements expressed or implied by such forward-looking
information. Such factors include, among others: the ability to
consummate the proposed acquisitions; the ability to obtain requisite
regulatory approvals and third party consents and the satisfaction of
other conditions to the consummation of the proposed acquisitions on the
proposed terms and schedule; the potential impact of the announcement or
consummation of the proposed acquisitions on relationships, including
with regulatory bodies, employees, suppliers, customers and competitors;
the diversion of management time on the proposed acquisitions; risks
relating to cannabis being illegal under US federal law and risks of
federal enforcement actions related to cannabis; negative changes in the
political environment or in the regulation of cannabis and the Company's
business; risks relating to lack of banking providers and
characterization of the Company's revenue as proceeds of crime as a
result of anti-money laundering laws and regulation; the costs of
compliance with and the risk of liability being imposed under the laws
the Company operates under including environmental regulations; negative
shifts in public opinion and perception of the cannabis industry and
cannabis consumption; risks that service providers may suspend or
withdraw services; the limited operating history of the Company;
reliance on the expertise and judgement of senior management of the
Company; increasing competition in the industry; risks related to
financing activities, including leverage; risks related to the
management of growth; increased costs related to the Company becoming a
publicly traded company; risks inherent in an agricultural business;
adverse agricultural conditions impacting cannabis yields; risks
relating to rising energy costs; risks of product liability and other
safety related liability as a result of usage of the Company's cannabis
products; negative future research regarding safety and efficacy of
cannabis and cannabis derived products; risk of shortages of or price
increases in key inputs, suppliers and skilled labor; a lack of reliable
data on the medical and adult-use cannabis industry; loss of
intellectual property rights or protections; cybersecurity risks;
constraints on marketing products; fraudulent activity by employees,
contractors and consultants; tax and insurance related risks; risk of
litigation; conflicts of interest; compliance with extensive government
regulation; changes in general economic, business and political
conditions, including changes in the financial markets; as well as those
risk factors discussed in the Company's Annual Information Form filed on
SEDAR at www.sedar.com
on November 2, 2018 and discussed in the Company's other public filings
available on SEDAR. Although the Company has attempted to identify
important factors that could cause actual results to differ materially,
there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
forward-looking information will prove to be accurate as actual results
and future events could differ materially from those anticipated in such
information.

Accordingly, readers should not place undue reliance on forward-looking
information. Forward-looking information is provided and made as of the
date of this press release and the Company does not undertake any
obligation to revise or update any forward-looking information other
than as required by applicable law.

SOURCE: MedMen Enterprises

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