MedMen to Acquire Cannabis Assets in Florida

MedMen Enterprises (CSE:MMEN) announced a new definitive agreement to acquire “dispensary and cultivation assets” Treadwell Nursery in Florida.

As quoted in the press release:

As part of the transaction, MedMen will acquire Treadwell Nursery’s cultivation facility situated on 5 acres in Eustis, Florida and the right to open 25 medical marijuana dispensaries in the State of Florida.

As consideration for the acquisition, the Company will pay US$53 million, subject to a working capital adjustment, half of which will be satisfied in cash and the other half of which will be satisfied by way of issuance of common units of MM Enterprises USA, LLC (the “LLC”), a subsidiary of the Company (the “Redeemable Units”), which by their terms are redeemable for Class B Subordinate Voting Shares of the Company (the “Subordinate Voting Shares”).

Click here to read the full press release.