July 24, 2024

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MedMen Announces Non-Brokered Private Placement to Gasoline Growth in Florida and Other Core Markets

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LOS ANGELES–(Organization WIRE)–MedMen Enterprises Inc. (“MedMen” or the “Business”) (CSE: MMEN) (OTCQX: MMNFF), is happy to announce the sale of C$20. million of models (“Models“) at a order price tag of C$.40 for each Device (the “Private Placement”). Each individual Unit is made up of one particular Course B subordinate voting share (just about every, a “Share“) and one share obtain warrant (each and every, a “Warrant“). Every single Warrant permits the holder to purchase just one Share for a interval of three a long time from the date of issuance at an exercise price of C$.50 for every Share.

MedMen considers Florida to be a core market place where by the Business has identified major prospective alternatives. MedMen’s present Florida asset base includes 16 prime leased dispensary spots (which include 10 entirely created-out shops) with 4 operational dispensaries. The Enterprise also owns underutilized manufacturing services that are producing somewhere around 8,000 lbs . per year.

Less than Florida cannabis laws, hashish vendors can only offer products that have been generated in-dwelling. Hence, a constraint on the Company’s Florida retail sales has been creation ability. MedMen’s Florida strategic development plan contains making use of the proceeds of the Private Placement to: (i) extend and increase utilization of the current production facilities with the target to improve cultivation potential from 8,000 lbs to 22,000 lbs . yearly, (ii) increase manufacturing ability and allow for the introduction of Mary’s Medicinals’ suite of solutions and Dixie Brands’ award-profitable edibles, and (iii) with the amplified capacity, have 15 operational suppliers open to provide Florida patients within the upcoming calendar year. Proceeds will also be applied to fund selected fees relevant to opening places in Massachusetts, Illinois and California, and for typical corporate purposes.

“This previous calendar year we have produced tremendous progress on our turnaround strategy with our expense slicing initiatives, gross margin growth and focusing investments on our maximum ROI options,” claimed Tom Lynch, Chairman and Chief Government Officer of MedMen. “MedMen’s upcoming has never ever been brighter. We believe we have the most recognizable model in cannabis, an actionable strategic growth approach and a disciplined management crew that is familiar with how to execute this turnaround.”

This news launch shall not constitute an give to promote or the solicitation of an offer you to obtain nor shall there be any sale of the securities in any jurisdiction in which these types of offer, solicitation or sale would be unlawful. The securities becoming offered have not been registered below the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and might not be available or bought in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act, and applicable state securities guidelines. As part of the transaction, the Enterprise has agreed to file a resale registration assertion on Type S-1 with the Securities and Trade Fee in just 15 times of the closing to register the resale of the Shares and Shares underlying the Warrants issued in the Personal Placement.

About MedMen

MedMen is a leading American hashish retailer with an operational footprint in California, Nevada, Illinois, Arizona, Massachusetts and Florida. MedMen offers a sturdy choice of superior-quality solutions, like MedMen-owned brands [statemade], LuxLyte, and MedMen Crimson by its high quality retail stores, proprietary shipping company, as properly as curbside and in-store decide on up. MedMen Buds, an field-initially loyalty system, provides special entry to promotions, merchandise drops and content. MedMen believes that a earth where by hashish is authorized and controlled is safer, much healthier and happier. Master far more about MedMen and The MedMen Foundation at www.medmen.com.

Cautionary Take note With regards to Forward-Searching Information and facts and Statements:

This press release consists of particular “forward-seeking information” in just the that means of relevant Canadian securities laws and may well also contain statements that may possibly represent “forward-hunting statements” within just the indicating of the protected harbor provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-hunting facts and ahead-hunting statements are not agent of historic points or information and facts or current problem, but in its place signify only MedMen’s beliefs with regards to future gatherings, ideas or targets, quite a few of which, by their nature, are inherently uncertain and exterior of MedMen’s command. Generally, these forward-hunting data or ahead-wanting statements can be recognized by the use of ahead-on the lookout terminology this sort of as “expects”, “believes”, “plans”, “intends”, “anticipates”, “projects” or variations of terms and phrases implying that particular actions, situations or results “may”, “could”, “would”, “might”, “will be taken”, “will continue”, “will occur” or “will be achieved” or by dialogue of approach. Forward-Seeking Statements involve estimates, designs, anticipations, opinions, forecasts, projections, targets, steerage or other statements that are not statements of historical actuality.

Forward-Searching Statements involve, but are not limited to, statements with regard to works by using of the proceeds from the Personal Placement increasing the Company’s functions in Florida the capacity to grow and enhance utilization of existing production services in Florida to enhance annual cultivation ability as prepared improve production ability the introduction of new products and solutions this sort of as Mary’s Medicinals and Dixie Manufacturers expectations of opening supplemental operational suppliers in Florida inside the subsequent calendar year and opening further locations in Massachusetts, Illinois and California.

Selected of the Forward-Seeking Statements contained herein concerning the industries in which we perform our small business are centered on estimates prepared by us using knowledge from publicly obtainable governmental sources, sector research, industry examination and on assumptions based mostly on details and know-how of these industries, which we feel to be acceptable. Even so, whilst normally indicative of relative market positions, market place shares and performance properties, these types of knowledge is inherently imprecise. The industries in which we carry out our business enterprise contain hazards and uncertainties that are subject to modify centered on many elements, which are described additional underneath.

Forward-wanting information and statements are not primarily based on historical facts but rather are centered on assumptions, estimates, assessment and opinions of administration of the Company at the time they were offered or built in light-weight of its experience and its notion of developments, latest conditions and envisioned developments, as effectively as other factors that management believes to be appropriate and fair in the circumstances, which includes: (i) enhanced operations at the Company’s Eustis cultivation and producing facility that are projected to make it possible for adequate provide for up to 15 suppliers presented current income and traits (ii) correctly renovating two existing greenhouses to increase space utilization and add supplemental environmental controls (iii) renovating a processing building, expanding a starter greenhouse and including a harvest setting up to increase cultivation (iv) scaling manufacturing capabilities together with the produce will increase (v) raising shop merchandise offerings via the expansion (vi) skill to efficiently deal with the restrictions, limitations and overall health concerns offered by the COVID-19 pandemic (vii) management’s perceptions of historic traits, present problems and predicted long term developments (viii) growth costs remaining regular with budgets, (ix) the capacity to control expected and unanticipated prices (x) achieving the predicted success of the Company’s strategic programs (xi) acquiring and preserving all needed licenses, approvals and permits (xii) favorable output concentrations and sustainable charges (xiii) standard financial, economical market, regulatory and political situations in which we run (xiv) customer desire in our products and solutions and products of other brands that we offer you in our outlets (xv) competitiveness (xvi) government regulation of our actions and items together with, but not limited, to the regions of taxation and environmental defense (xvii) our skill to perform functions in a safe, successful and efficient way and (xviii) other things to consider that management believes to be proper in the instances.

By their mother nature, Ahead-Searching Statements are matter to inherent risks and uncertainties that may possibly be normal or particular and which give rise to the risk that expectations, forecasts, predictions, projections or conclusions will not confirm to be exact, that assumptions could not be right and that targets, strategic ambitions and priorities will not be accomplished. A wide variety of variables, like recognised and mysterious dangers, a lot of of which are over and above our management, could result in real success to vary materially from the Forward-Searching Statements in this push launch and other stories we file with, or furnish to, the SEC and other regulatory companies and built by our administrators, officers, other staff members, and other people authorized to speak on our behalf. These variables include, without the need of limitation, uncertainties linked with the COVID-19 pandemic, such as our ability to proficiently deal with the limitations, constraints and wellbeing challenges introduced by the COVID-19 pandemic the incapacity to increase vital or sought after money to obtain our strategic enterprise approach the lack of ability to consummate proposed dispositions and the incapability to get required regulatory approvals and third-party consents and the pleasure of other circumstances to the consummation of the proposed inclinations on the proposed terms and agenda the inability to effectively regulate advancement inputs, suppliers and competent labor becoming unavailable or offered only at uneconomic expenses the adequacy of our cash sources and liquidity, which include but not minimal to, availability of adequate hard cash circulation to execute our enterprise plan (both inside the envisioned timeframe or at all) modifications in basic economic, enterprise and political ailments, together with alterations in the fiscal markets changes in relevant regulations normally and adverse future legislative and regulatory developments involving professional medical and leisure marijuana the dangers of operating in the marijuana marketplace in the United States, and individuals other danger aspects talked over in MedMen’s Sort 10 (as amended), and other continual disclosure filings, all obtainable under MedMen’s profile on www.sedar.com and at www.sec.gov.

Even though MedMen thinks that the assumptions and things made use of in preparing, and the anticipations contained in, the ahead-on the lookout information and facts and statements are sensible, undue reliance ought to not be placed on this sort of info and statements, and no assurance or guarantee can be supplied that these types of ahead-hunting data will verify to be accurate, as precise benefits and foreseeable future occasions could differ materially from individuals expected in this sort of info and statements. Need to assumptions underlying the forward-seeking statements verify incorrect, real results may possibly range materially from those people described herein as supposed, prepared, expected, thought, estimated or predicted.

The forward-seeking details and ahead-seeking statements contained in this press launch are created as of the date of this press release, and MedMen does not undertake to update any forward-on the lookout data and/or forward-looking statements that are contained or referenced herein, apart from in accordance with applicable securities laws.

Ahead-looking statements contained in this news launch are expressly skilled by this cautionary note.

Source: MedMen Enterprises

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