NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES
LOS ANGELES, Sept. 27, 2018 (GLOBE NEWSWIRE) -- MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQB: MMNFF) (FSE:
A2JM6N) is pleased to announce that it has completed its previously-announced bought deal financing (the “Offering”) of 15,681,818
units (the “Units”) at a price of C$5.50 per Unit (the “Issue Price”), which included the exercise in full by the Underwriters of
their over-allotment option, for aggregate gross proceeds of approximately C$86,250,000.
The Offering was conducted by way of a short form prospectus through a syndicate of underwriters led by Eight
Capital and Cormark Securities Inc., as co-lead underwriters, and including GMP Securities L.P. (collectively, the “Underwriters”).
Each Unit consists of one Class B Subordinate Voting Share in the capital of the Company and one-half of one share purchase warrant
of the Company (each whole share purchase warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire, subject to
adjustment in certain circumstances, one Class B Subordinate Voting Share in the capital of the Company at an exercise price of
C$6.87 for a period of 36 months following the closing of the Offering.
The Company has received approval from the Canadian Securities Exchange (the “CSE”) to list the Warrants issued
pursuant to the Offering. The Warrants are expected to commence trading under the ticker symbol “MMEN.WT” on the date hereof.
The net proceeds from the Offering will be used for expansion of the Company’s retail network, development of
cultivation and production facilities, to fund operating cash flow and for general corporate and other working capital
purposes.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities described herein. The securities have not been and will not be registered under the United States Securities Act of
1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States
or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
ABOUT MEDMEN:
MedMen Enterprises is a leading cannabis company in the U.S. with assets and operations across the country. Based in Los Angeles,
MedMen brings expertise and capital to the cannabis industry and is one of the nation’s largest financial supporters of progressive
marijuana laws. Visit http://www.medmen.com
Cautionary Note Regarding Forward-Looking Information and Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian
securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the
safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and
forward-looking statements are not representative of historical facts or information or current condition, but instead represent
only MedMen’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and
outside of MedMen’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use
of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may
contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”,
“will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include,
but is not limited to, information concerning the contemplated use of proceeds of the Offering and the contemplated timing for the
commencement of trading of the Warrants.
By identifying such information and statements in this manner, MedMen is alerting the reader that such
information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of MedMen to be materially different from those expressed or implied by
such information and statements. In addition, in connection with the forward-looking information and forward-looking statements
contained in this press release, MedMen has made certain assumptions.
Among others, the key factors that could cause actual results to differ materially from those projected in
the forward-looking information and statements are the following: delays or inability to satisfy the final listing requirements of
the CSE; inability to locate suitable acquisition targets; delays in opening new cultivation and production
facilities; higher than expected costs to construct and operate cultivation and production facilities;
adverse changes in the public perception of cannabis; changes in consumer demand for cannabis; decreases in the prevailing prices
for cannabis and cannabis products in the markets in which the Company operates; adverse changes in applicable laws; adverse
changes in the application or enforcement of current laws, including those related to taxation; increasing costs of compliance with
extensive government regulation; changes in general economic, business and political conditions, including changes in the financial
markets and in particular in the ability of the Company to raise debt and equity capital in the amounts and at the costs that it
expects; risks related to licensing, including the ability to obtain the requisite licenses or renew existing licenses for the
Company’s proposed operations; dependence upon third party service providers, skilled labor and other key inputs; risks inherent in
the agricultural and retail business; intellectual property risks; risks related to litigation; dependence upon senior management;
and other risks disclosed in the Company’s public filings including its short form prospectus dated September 21, 2018 (including
the documents incorporated by reference therein). Should one or more of these risks, uncertainties or other factors materialize, or
should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially
from those described herein as intended, planned, anticipated, believed, estimated or expected.
Although MedMen believes that the assumptions and factors used in preparing, and the expectations contained
in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and
statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such information and statements.
Key assumptions used herein are that the Company is able to fulfill the final listing requirements of the CSE, the market for
acquisition targets does not materially change and that development costs remain consistent with budgets. The forward-looking
information and forward-looking statements contained in this press release are made as of the date of this press release, and
MedMen does not undertake to update any forward-looking information and/or forward-looking statements that are contained or
referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking
information and statements attributable to MedMen or persons acting on its behalf is expressly qualified in its entirety by this
notice.
For further information, please contact:
MEDIA CONTACT:
Briana Chester
Senior Publicist
Email: briana.chester@medmen.com
(424) 888-4260
INVESTOR RELATIONS CONTACT:
Stéphanie Van Hassel
Head of Investor Relations
Email: investors@medmen.com
(323) 705-3025
