TIMING OF TOMORROW'S NEWS / ONTARIO'S RETAIL ANNOUNCEMENTTONIGHT AFTER MARKET CLOSE,,, DOUG FORD WILL BE ANNOUNCING ONTARIO'S RETAIL PLAN FOR THE SALE OF CANNABIS.
MEDMEN IS EXPECTED TO CLOSE THE $75 MILLION BOUGHT DEAL @ 5.50... SO TOMORROW I EXPECT TO SEE THIS RECOVER.
MEDMEN ALSO ANNOUNCED TALKS ABOUT A TRADITIONAL LOAN OF $50-100 MILLION DOLLARS.
MY THEORY IS THAT THE MONEY WILL BE LENT TO MEDMEN & CHRONOS GROUP TO DEVELOP CANADIAN RETAIL STORES.
IF YOU READ THE ARTICLE...
https://www.marketwatch.com/press-release/medmen-enterprises-inc-announces-filing-of-final-prospectus-for-its-c75-million-bought-deal-financing-2018-09-22 As disclosed in the Prospectus, to supplement the net proceeds contemplated to be raised from the Offering and accelerate the execution of the Company's strategic initiatives, the Company is currently in discussions with certain potential lenders in respect of a senior secured loan to be provided to certain of its subsidiaries.While the terms of any such loan remain subject to ongoing negotiation and subject to successful negotiation of definitive documentation, the current contemplated terms of such senior secured loan include an aggregate principal amount of between US$50 million and US$100 million for a two-year term at a market interest rate, a security package that will include senior security over certain assets of the debtor(s) and certain of their affiliates, customary positive and negative operational and reporting covenants and certain limited financial covenants. It is also contemplated that the Company or its subsidiary MM CAN USA, Inc. will issue to the lenders warrants providing coverage against the principal amount of the loan. The proceeds from any such senior secured loan are anticipated to be used for acquisitions, capital expenditures and general corporate purposes
I THINK THAT THIS MONEY WILL BE USED FOR BUILDING OUT STORES IN ONTARIO, BC, & ALBERTA.
GLTA