MedMen Announces Completion of Real Estate Sale to Cannabis REIT
MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF) (FSE: A2JM6N) today announced that it has
completed the sale of three properties to Treehouse Real Estate Investment Trust (“Treehouse”) with a net proceeds of approximately
$18.4 million.
“These proceeds will be deployed into more accretive growth opportunities as we operationalize our national footprint,” said
Adam Bierman, chief executive officer and co-founder.
Below is a list of properties included in the sale:
- One retail storefront located on Lincoln Blvd in Venice, California;
- One retail storefront located on Robertson Blvd, the closest dispensary to Beverly Hills,
California;
- One 45,000 sq. foot cultivation and production factory located in Sparks, Nevada.
ABOUT MEDMEN:
MedMen is a cannabis retailer with operations across the U.S. and flagship stores in Los Angeles, Las Vegas and New York.
MedMen’s mission is to provide an unparalleled experience that invites the world to discover the remarkable benefits of cannabis
because a world where cannabis is legal and regulated is a safer, healthier and happier world. Learn more at
www.medmen.com
ABOUT TREEHOUSE:
Treehouse Real Estate Investment Trust, Inc. is a newly-organized, externally managed real estate investment company focused on
the acquisition, ownership and management of specialized retail and industrial properties leased to experienced, state-licensed
operators for their regulated adult-use and medical-use cannabis facilities. Treehouse will initially be externally managed and
advised by an affiliate of MedMen Enterprises Inc. Visit
http://www.treehousereit.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 are not limited to, information concerning proposed acquisitions in Northern California, Arizona, Illinois and of PharmaCann
LLC, expectations regarding whether such proposed acquisitions will be consummated, including whether conditions to the
consummation of the proposed acquisitions will be satisfied and whether the proposed acquisitions will be completed on the current
terms, the timing for completing the proposed acquisitions, expectations for the effects of the proposed acquisitions (including on
the Company’s footprint and asset base) on the ability of the Company to successfully achieve business objectives, and expectations
for other economic, business, and/or competitive factors.
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 the key factors that could cause actual results to differ materially from those
projected in the forward-looking information and statements are the following: the inability to consummate the proposed
acquisitions; the failure to obtain requisite regulatory approvals and third party consents and the failure to satisfy other
conditions to the consummation of the proposed acquisitions, which could impact closing or closing on the proposed terms and
schedule; the potential impact of the announcement or consummation of the proposed acquisitions on relationships, including with
regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions,
including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the
diversion of management time on the proposed acquisitions. 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. 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.
SOURCE: MedMen Enterprises
MEDIA CONTACT:
Briana Chester
Director of Public Relations
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20190207005326/en/