"The only company that appears poised to get paid from the dissolution of MedMen is a Delaware LLC known as Superhero Acquisition Corp., the only secured debtor that registered an interest with the Canadian trustee, which is owed more than $262.3 million overall, according to Ormond." (Note Tilray bought 80% of that Note with 9 million shares priced near peak)
Irwin Simon announced July 30th they (Superhero Acquistion) have 9-11 of the Medmen (as of July 30th). The Superhero partnership "they will build those out". Hadley, 20% Superhero partner is a private financier, California developer.
I've read this size of bankruptcy usually takes about 9 months. Should be settled and in the books near the New Year. +/-
Medmen at their peak had 30 High End Retail, 70 Licensed Undeveloped Properties, Infused Beverages, Energy Drinks. 7 Licensed Grow Ops.
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I doubt Tilray will go after the Medmen retail unless the values are considerably lower than market values, current and future after Sch3? Irwin Simon has previously stated he does not want to be in retail. Aphria under Vic Neufeld invested heavily in HITI.
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It sounds like many Medmen leased stores are being given back to the property owners, but some of the higher valued stores must be Medmen owned? Irwin mentioned some had over $2.5M cost to build. High End. Medmen spared no expense when building.
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Anything sold by the receiver to others, generates cash,Tilray could be in on as the majority position, only secured creditor.
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Tilray could end up with all the Medmen Beverages and Beverages Brewing Equipment and Properties.
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Medmen have or had 7 Licensed Grow Facilities Tilray could end up with.
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70 Cannabis Licenses on Undeveloped Properties.
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Global Rights to Medmen. Medmen had at least 2 off shore businesses.
Could the 9-11 Medmen Irwin stated "they will build those out" be Licensed Grow Ops, or Infused Beverages with Facilities & Production Equipment? Or 9-11 Licensed Undeveloped Properties in select markets?
Time will tell.
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