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MedMen Announces Equity Private Placement

LOS ANGELES -- MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF), a cannabis retailer with operations across the U.S., today announced the execution of subscription agreements with certain institutional investors (collectively, the “Investors”) for the sale of up to approximately US$5.8 million of units ("Units") at a purchase price of US$0.3713 per Unit (the “Private Placement”). Each Unit consists of one Class B subordinate 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 five years from the date of issuance at an exercise price of US$0.4642 per Share. The Private Placement will be completed in tranches, with the initial tranche consisting of 7,800,000 Units for aggregate gross proceeds of US$2.9 million. The Company has granted the Investors an option to acquire up to an additional 7,800,000 Units on the terms set forth above for a period of 45 days following the initial closing. Read More

from Financial Post https://ift.tt/3tZHlHX
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