MMEN - Illinois news- MMEN will close at $4.00 tomorrow Illinois Governor Signs Landmark Cannabis Legalization; MedMen Well-Positioned to Serve Market
Read more at https://stockhouse.com/news/press-releases/2019/06/25/illinois-governor-signs-landmark-cannabis-legalization-medmen-well-positioned#GZ2kUcS3mok5CqD7.99
MedMen in Illinois
On October 11, 2018, MedMen announced an agreement to acquire PharmaCann – one of the largest medical cannabis operators in the state. PharmaCann currently serves nearly 80% of the Chicagoland market. The proposed transaction is currently under regulatory review and the Company expects it to close by the end of calendar year 2019. With this transaction, MedMen expects to become a leading retailer in Illinois with a total of ten store locations. Currently, MedMen operates one medical dispensary located in Oak Park, which would be co-located with adult-use sales, pending the necessary regulatory approvals.
MedMen’s success in other states is expected to serve as a blueprint for what the company will achieve in Illinois. In California, MedMen enjoys a 7% market share in arguably the most mature cannabis market in the U.S. There, in anticipation of adult-use sales in January 2018, MedMen assembled a robust multidisciplinary team, including experts in regulatory compliance, legal, real estate, construction, retail and marketing, to ensure a smooth and successful transition into an adult-use program. MedMen believes this experience, along with its vision, expertise and resources, will also allow it to quickly and efficiently scale in Illinois.
Award-Winning Design and Customer Experience
MedMen’s iconic stores are designed to create an elevated, but accessible, consumer experience. Every MedMen store is created to serve the needs of a wide range of shoppers, from the “canna-curious” to the experts. This innovative store design helps break the stigma associated with cannabis. It is geared towards bringing transparency, education and the highest quality products to the consumer. Employees are highly-trained subject matter experts who understand achieving an unsurpassed customer experience is their top priority.
Job Creation in the New Cannabis Economy
MedMen anticipates creating hundreds of local jobs in Illinois, pending the opening of its ten total store locations, following receipt of regulatory approvals and the closing of the PharmaCann transaction.
Read more at https://stockhouse.com/news/press-releases/2019/06/25/illinois-governor-signs-landmark-cannabis-legalization-medmen-well-positioned#GZ2kUcS3mok5CqD7.99