MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF) is pleased to complete the sale of units (“Units”) for a total of US $ 10.0 million for a purchase price of USD $ 0.32 per unit (the “Private Placement”). Each Unit consists of one Class B Subordinated Voting Share (each a “Share”) and one share purchase warrant (each a “Warrant”). Each warrant permits the holder to purchase one share for a period of three years from the date of issue at an exercise price of $ 0.352 per share.

“As we accelerate new store openings at our Fenway and two San Francisco locations, we are repositioning our narrative from a turnaround to a growth phase,” said Tom Lynch, chairman and chief executive officer of MedMen. “We just announced our third straight quarter of positive cash flow for retail customers, as previously defined, and our new locations perfectly sum up what the new MedMen story is all about: a capital disciplined approach to prime locations, superior customer experience and choice but also a new commitment to the communities we serve. “

As previously announced, the company expects its Fenway location to open in late summer or early fall 2021 and its two San Francisco, CA locations in the fall of 2021.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will any sale of the securities be made in any country in which such offer, solicitation or sale would be unlawful. The securities being offered have not been registered under the United States Securities Act of 1933, as amended (“US Securities Act”) and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the US Securities Act and applicable state securities laws. As part of the transaction, the Company has agreed to file a resale registration statement on Form S-1 with the Securities and Exchange Commission within 20 days of the closing to register the resale of the shares and shares representing the warrants issued in the private placement underlie .

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About MedMen

MedMen is a leading American cannabis retailer with operational presence in prime locations in California, Nevada, Illinois, Arizona, Massachusetts and Florida. MedMen offers a robust selection of quality products, including MedMen’s own brand, MedMen Red, through its premium retail stores, proprietary delivery service, and roadside and in-store pickups. MedMen Buds, our industry first loyalty program, offers our VIP customers world-class access to promotions, product losses and content. MedMen believes that a world where cannabis is legal and regulated is safer, healthier, and happier. Learn more about MedMen at www.medmen.com.

Cautionary Note Regarding Forward-Looking Information and Statements:

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may include statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking information and Forward-looking statements are not representative of historical facts or information or current status, but only represent MedMen’s beliefs regarding future events, plans, or goals, many of which are inherently uncertain and beyond MedMen’s control. In general, such forward-looking information or forward-looking statements may be identified by the use of forward-looking terminology such as “expects,” “believes,” “plans,” “intends,” “anticipates,” “projects” or varies from words and phrases that imply that certain actions, events or outcomes “may”, “could”, “would”, “could”, “be taken”, “continue”, “occur” or “are achieved” or “achieved” are through discussion of the strategy . Forward-looking statements include estimates, plans, expectations, opinions, projections, projections, goals, guidelines or other statements that are not historical facts.

Forward-looking statements include, but are not limited to, statements regarding the use of proceeds from the private placement; Expand the company’s operations in Florida; the ability to expand and increase the utilization of existing manufacturing facilities in Florida; increase annual cultivation capacity as planned; Increase production capacity; the introduction of new products such as Mary’s Medicinals and Dixie Brands; Expectations to Open Additional Florida Operations in the Next Year; and opening of additional locations in Massachusetts, Illinois and California.

Certain of the forward-looking statements contained herein regarding the industries in which we do our business are based on estimates made by us using data from publicly available government sources, market research, industry research, and assumptions based on data and knowledge of those industries. what we think is reasonable. Although this data generally indicates relative market positions, market shares, and performance characteristics, it is inherently imprecise. The industries in which we do our business involve risks and uncertainties that can change due to various factors, which are described below.

Forward-looking information and statements are not based on historical facts, but rather on assumptions, estimates, analyzes and opinions of the management of the company at the time they are made available or made in the light of its experience and its perception of trends and current conditions and expected developments as well as other factors that make the Management deems relevant and appropriate in the circumstances, including: (i) improved operations at the company’s Eustis growing and manufacturing facility which is expected to provide adequate supplies for up to 15 stores at current revenues and trends; (ii) Successful renovation of two existing greenhouses to increase space utilization and add additional environmental controls; (iii) renovating a processing building, expanding a starter greenhouse, and adding a harvest building to increase the cultivation; (iv) scaling of manufacturing capacities alongside increases in yield; (v) increase the product offering in the store through the expansion; (vi) ability to effectively manage the constraints, limitations and health issues caused by the COVID-19 pandemic; (vii) management’s perception of historical trends, current conditions and expected future developments; (viii) development costs remain in line with budget; (ix) the ability to manage expected and unexpected costs; (x) achieving the expected results of the company’s strategic plans; (xi) obtaining and maintaining all necessary licenses, permits and permits; (xii) favorable levels of production and sustainable costs; (xiii) general economic, financial, regulatory and political conditions in which we operate; (xiv) consumer interest in our products and products from other brands that we sell in our stores; (xv) competition; (xvi) government regulation of our activities and products, including but not limited to taxation and environmental protection; (xvii) our ability to conduct operations in a safe, efficient, and effective manner; and (xviii) other considerations as management deems appropriate in the circumstances.

By their very nature, forward-looking statements are subject to general or specific risks and uncertainties that could cause expectations, forecasts, predictions, projections or conclusions to prove incorrect and assumptions to prove incorrect and that goals, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking statements in this press release and other reports that we file with or with the SEC these are communicated to by other regulatory agencies and by our directors, officers, other employees and other persons authorized to speak on our behalf. These factors include, without limitation, uncertainties related to the COVID-19 pandemic, including our ability to effectively manage the constraints, limitations and health issues caused by the COVID-19 pandemic. the inability to raise necessary or desired funds to achieve our strategic business plan; the inability to complete the proposed ordinances and the inability to obtain the necessary regulatory approvals and third party consents and the satisfaction of other conditions for completing the proposed ordinances on the proposed terms and schedule; the inability to effectively control growth; Inputs, suppliers and skilled workers are not available or only available at uneconomical costs; the adequacy of our capital resources and liquidity, including, but not limited to, the availability of sufficient cash flow to execute our business plan (either within the expected timeframe or at all); Changes in general economic, business and political conditions, including changes in financial markets; Changes in applicable laws in general and adverse future legal and regulatory developments related to medical marijuana and recreational marijuana; the risks of working in the U.S. marijuana industry and the other risk factors discussed in MedMen’s Form 10, as amended, and other ongoing disclosure documents, all of which can be found under MedMen’s profile at www.sedar. com and www.sec are available .gov.

Although MedMen believes that the assumptions and factors used in preparing the forward-looking information and statements and the expectations contained therein are reasonable, undue reliance should not be placed on such information and statements and no representation or warranty can be made Forward-looking information will prove to be correct, as actual results and future events could differ materially from those anticipated in these information and statements. Should the assumptions underlying the forward-looking statements prove to be incorrect, the actual results may differ materially from those described here, as intended, planned, expected, assumed, estimated or expected.

The forward-looking information and forward-looking statements contained in this press release are as of the date of this press release, and MedMen undertakes no obligation to update any forward-looking information and / or forward-looking statements contained or referenced herein except in accordance with applicable securities laws .

Forward-looking statements in this press release are expressly qualified by this cautionary statement.

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contacts

Media contact
Tracy McCourt
MedMen
Chief Revenue Officer
Email: [email protected]

Investor Relations contact
Reece Fulgham
MedMen
CFO
Email: [email protected]