MedMen Proclaims AWH Funding in MedMen New York Operations

NEW YORK AND LOS ANGELES – (BUSINESS WIRE) – MedMen Enterprises Inc. (“MedMen” or the “Firm”) (CSE: MMEN) (OTCQX: MMNFF), a hashish retailer with operations in america, immediately introduced that it has signed an settlement to definitive funding (the “Settlement”) with Ascend Wellness Holdings, LLC (“AWH”), whereby, topic to the approval of the New York State Division of Well being and different relevant regulatory businesses, AWH will make an funding (the “Funding”) totaling roughly $ 73 million in MedMen NY Inc. (“MMNY”), a subsidiary of MedMen in New York State. In reference to the Funding, and topic to regulatory approval, MMNY will have interaction the companies of AWH in accordance with a administration settlement (the “Administration Settlement”) underneath which AWH will advise on the operations of MMNY pending regulatory approval of the Funding transaction.

“We consider the proposed transaction will convey new capital and a brand new perspective to New York’s medical marijuana program and its sufferers,” stated Abner Kurtin, founding father of AWH.

Settlement situations

Below the phrases of the funding, at closing, MMNY will assume as much as roughly $ 73 million of MedMen’s present secured debt, AWH will make investments $ 35 million in money in MMNY, and AWH New York, LLC will subject a observe to Senior Secured Order to MMNY Senior Secured Lender within the principal quantity of $ 28 million assured by AWH which money funding and observe can be used to scale back quantities owed to the Senior Secured Lender by MMNY. Because of its funding, AWH will maintain a controlling curiosity in MMNY equal to roughly 86.7% of MMNY’s fairness and can be supplied an choice to amass MedMen’s remaining stake in MMNY sooner or later. AWH can be to make a further funding of $ 10 million in alternate for added fairness in MMNY, this funding may even be used to repay MMNY’s senior secured lender if gross sales of grownup hashish start at MMNY dispensaries.

Transactions contemplated by the Funding Settlement are topic to customary closing situations, together with approval from the New York State Division of Well being and different relevant regulatory our bodies.


Moelis & Firm LLC has been the unique monetary advisor to MedMen. Foley Hoag LLP was authorized counsel to AWH.

About MedMen

MedMen is an American hashish retailer with flagship places in Los Angeles, Las Vegas, Chicago and New York. MedMen affords a strong choice of top of the range merchandise together with manufacturers owned by MedMen [statemade], LuxLyte and MedMen Pink by its premium retail shops, unique supply service, in addition to curbside and in-store pickup. MedMen Buds, an industry-leading loyalty program, affords unique entry to promotions, merchandise and content material. MedMen believes {that a} world the place hashish is authorized and controlled is safer, more healthy and happier. Study extra about MedMen and the MedMen Basis at

About AWH

AWH is a vertically built-in operator with belongings and companions in Illinois, Michigan, Ohio, Massachusetts and New Jersey. AWH owns and operates state-of-the-art cultivation services, cultivating award-winning strains and producing an organized number of merchandise with effects-based categorization. AWH produces and distributes Ozone model merchandise. For extra info go to

Warning concerning forward-looking info and statements:

This press launch accommodates sure “forward-looking info” throughout the that means of relevant Canadian securities laws and may additionally include statements that will represent “forward-looking statements” throughout the that means of the protected harbor provisions of the State Non-public Securities Litigation Reform Act. -United. from 1995. These forward-looking info and forward-looking statements are usually not consultant of historic info or info or the present state of affairs, however somewhat characterize MedMen’s beliefs concerning future occasions, plans or targets, a lot of which, by their nature, are inherently unsure and past MedMen’s management. Usually, such forward-looking info or forward-looking statements might be recognized by way of forward-looking phrases comparable to “expects”, “believes”, “plans”, “intends”, “anticipates” or modifications in phrases and phrases. implying that sure actions, occasions or outcomes “might”, “might”, “would”, “might”, “can be undertaken”, “will proceed”, “will happen” or “can be achieved”. This forward-looking info relies on sure assumptions made by administration and different components utilized by administration to develop this info. The forward-looking statements contained on this press launch embody, with out limitation, statements that assume that MMNY is ready to get hold of funding consent from relevant regulatory authorities; statements concerning the quantity of MedMen’s secured debt to be assumed by MMNY; and possession of MMNY by MedMen upon completion of the funding.

Ahead-looking info and statements are usually not ensures of future efficiency and are based mostly on administration’s estimates and assumptions on the date the statements are made, together with, amongst others, estimates and assumptions concerning the transaction with AWH in progress underneath present and present situations. envisaged deadlines; the prevalence of any occasion, change or different circumstances which might give rise to the termination of the Funding Contract; the shortcoming of both social gathering to carry out the funding contract attributable to non-compliance with situations and commitments; failure to acquire the required regulatory approvals and third social gathering consents as a way to full the transactions contemplated by the funding settlement; AWH’s incapability to entry ample capital from inner and exterior sources to finish the funding or pay any interruption charges or related bills required underneath the funding settlement; MedMen’s incapability to entry ample capital to repay AWH with respect to any deposits underneath the Funding Settlement; dangers related to the disruption of administration’s consideration to the Firm’s ongoing enterprise actions on account of the proposed transaction and the impact of the announcement of the proposed transaction on the Firm’s relationship with its clients, suppliers and actions typically; the shortcoming of administration to efficiently execute and obtain the anticipated outcomes of MedMen’s strategic plans on schedule or by no means; the flexibility to fulfill operational and monetary covenants underneath MedMen’s present debt obligations; uncertainties associated to the COVID-19 epidemic and its potential affect on the worldwide financial system and the retail sector, particularly the hashish retail sector within the states through which MedMen operates and on the regulation of MedMen’s actions within the states through which it operates; modifications in financial, commerce and common political situations, together with modifications in monetary markets; modifications in relevant legal guidelines typically and future adversarial legislative and regulatory developments regarding medical and leisure marijuana; the dangers of working the marijuana {industry} in america, and different danger components mentioned in MedMen’s Kind 10 (as amended), and different persevering with disclosure filings, all accessible underneath MedMen’s profile on and to

Though MedMen believes that the assumptions and components used to arrange and the expectations contained within the forward-looking info and statements are affordable, one shouldn’t place undue reliance on such info and statements, and no assurance or assure might be given the knowledge. forward-looking statements will show to be right as precise outcomes and future occasions might differ materially from these anticipated in such info and statements. If the assumptions underlying forward-looking statements show to be incorrect, precise outcomes might differ materially from these described herein as anticipated, anticipated, anticipated, believed, estimated or anticipated.

The forward-looking info and forward-looking statements contained on this press launch are made as of the date of this press launch, and MedMen doesn’t undertake to replace any forward-looking info and / or forward-looking statements contained or referenced herein, besides in accordance with relevant securities legal guidelines.

The forward-looking statements contained on this press launch are expressly certified by this cautionary assertion.

Supply: MedMen firms

Previous Nations Should Unite to Keep a Guidelines-Based mostly World Buying and selling System: Chan Chun Sing, Economic system Information & High Tales
Next JTS Korea distributes emergency flood aid in Cambodia