MedMen Enterprises (CSE:MMEN) released consolidated financial results for its fourth quarter and fiscal year 2018 which ended on June 30.

As quoted in the press release:

Fourth Quarter and Fiscal Year 2018 Highlights


  • Fourth quarter 2018 systemwide revenue was $20.6 million, up 1,317 [percent] from $1.5 million in fourth quarter 2017 and 44 [percent] from $14.3 million in third quarter 2018. The increase was primarily due to the majority of MedMen’s stores coming on line during the quarter.
  • Fiscal year 2018 systemwide revenue was $39.8 million, up 1,390 [percent] from $2.7 million in fiscal year 2017.
  • Reported average sales per square foot of $6,257 including Abbot Kinney and customer conversion rate of 84 [percent] for all California stores for the fourth quarter.
  • Reported over 700,000 sales transactions from all MedMen stores for fiscal year 2018.

Business Development:

  • Acquired the assets of Nevada Wellness Project, LLC, including a dispensary license on June 29.
  • Opened its store on Venice’s Abbot Kinney Boulevard on June 9.
  • Opened Project Mustang, a state-of-the-art cultivation and production facility in Reno, Nevada.
  • Acquired all of the assets of San Diego Health and Wellness Center, Inc., dba Apothekare, including a dispensary license on February 16.
  • Acquired two Nevada dispensary licenses from LVMC, LLC and Just Quality, LLC in January 19 and February 9, respectively.

Click here to read the full press release.


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To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email for information on the class action.

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The Portnoy Law Firm advises investors that class action lawsuits have been filed on behalf of investors in the following publicly traded companies. Shareholders interested in taking an active role in these cases have until the deadlines indicated below to petition the court. There is no cost or obligation to you. See below for more information on these cases.

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  • On November 19 , the Mexican Senate passed comprehensive adult-use cannabis legalization, moving Mexico towards becoming one of the few countries to legalize cannabis nationally
  • On March 31, 2020 , the Company entered into an agreement with Tecnologico de Monterrey , the leading university in Mexico , to educate physicians across Latin America , in advance of the impending regulations in Mexico
  • To date, close to 550 LatAm physicians have obtained their diploma accrediting completion of Khiron’s medical education program
  • The Company plans to deploy its ZereniaTM medical cannabis clinics and telehealth strategy in Mexico , building on the success of its vertical integration strategy in Colombia
  • Expanding the Zerenia clinic strategy will build on the Company’s Colombia knowledge and proven distribution capabilities, with rapid telehealth service adoption and over 5,600 medical cannabis scripts filled to date
  • Mexico represents one of the largest potential markets for medical cannabis in the world and is anticipated to reach $1.2bn USD by 2028 (Prohibition Partners).
  • Company to release Q3 2020 financials and host webcast on Tuesday, December 1st

Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV: KHRN ), (OTCQX: KHRNF), ( Frankfurt : A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe welcomes the passing of adult-use cannabis legislation by the Mexican Senate, which moves the country closer to a legalized cannabis market, and towards provision for medical cannabis products.  Khiron has had a presence in Mexico since 2018 and has been working with doctors and medical institutions to develop a deep understanding of the market.

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