MedMen Comments on Recent Market Activity
MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF) (FSE: A2JM6N) wishes to make the
following statement regarding recent market activity in its Class B Subordinate Voting Shares traded on the OTCQX marketplace.
On February 26, 2019, OTC Markets made inquiries regarding certain promotional activity concerning MedMen securities. The
promotional activity relates to promotional materials encouraging investors to purchase the Company’s Class B Subordinate Voting
Shares.
After due inquiry, the Company identified the promotional materials as an article featuring the Company that was posted on
February 25, 2019 on the website marijuanastox.com by Wining Media LLC (“WM”). WM is an independent third-party investor relations
and consulting firm. The Company engaged WM orally in January 2019 to provide public relations and communication services for the
Company. The Company’s engagement of WM involved the creation by WM of digital content featuring the Company and the purchase of
advertisements on Google and Yahoo Finance intended to drive awareness of the Company, its business and its securities. All
materials distributed by WM contained a legend stating they were advertisements paid for by the Company. The Company provided WM
with supporting documents comprised of the Company’s public filings, the Company’s prior press releases, and an investor relations
presentation. The Company’s officers had editorial input into the creation of the article.
After due inquiry, the Company is unable to determine whether the promotion resulted in increased trading activity in the
Company’s stock. While trading in the Company’s stock increased between February 26 and February 28, 2019, the Company believes the
Company’s announcement that it would release quarterly earnings on February 27, 2019 was a factor leading to this increase in
trading activity.
Upon reviewing the content of the promotional materials, the Company confirms that the statements and claims made were taken
from the Company’s public financial statements, historical press releases, the investor relations presentation and other public
documents which are factual and non-misleading. However, there are statements made which encourage investors to purchase the stock
of the Company. The Company has concluded, upon investigation, that, in this instance the article was not approved according to the
Company’s internal procedures. The Company disclaims any potentially exaggerated or misleading statements contained in the
materials. Furthermore, the Company has instructed WM to remove all promotional materials regarding the Company from the public
domain and to cease all promotional efforts on behalf of the Company.
After due inquiry of the Company’s officers, directors, controlling shareholders and third-party service providers, neither the
Company, nor any of its officers, directors, and to the knowledge of the Company, any controlling shareholders or third-party
service providers have sold the Company's securities within the past 90 days, other than that on December 5, 2018 the Company
completed a “bought deal” public offering of 13,640,000 units at a price of CAD$5.50 per unit, for aggregate gross proceeds of
CAD$75,020,000. In addition, the Company’s co-founders purchased the Company’s stock in the past 90 days. Specifically, CEO Adam
Bierman and President Andrew Modlin each purchased 342,660 Class B Subordinate Voting Shares then valued at approximately US$1
million each during December 2018. Neither Mr. Bierman nor Mr. Modlin has sold these shares, nor have they sold any of the
Company’s other securities they hold, to date. All such transactions were in accordance with the Company's insider trading policy
and were reported with the System for Electronic Disclosure (www.SEDI.ca).
The Company has not issued any convertible debt or equity instruments that allow conversion to equity securities at prices
constituting a discount to the current market rate at the time of the issuance.
The Company has engaged several firms to provide investor and public relations services over the past year. Since February 2017
the Company has engaged Edelman (New York, NY); Azione (New York, NY); Stockhouse Publishing, Ltd (Vancouver, Canada); CFN Media
Group (Whitefish, Montana); and Wining Media LLC at various times to provide investor relations services, public relations
services, marketing or other related services including the promotion of the Company, its business and/or its securities.
The Company is committed to compliance with the OTC Markets Group Policy on Stock Promotion and the OTCQX Standards and Canadian
securities laws. The Company does not condone the use of sensational language to describe the Company’s business prospects or the
growth potential of the Company’s industry. The Company does not condone any statements made regarding urgency to invest in the
Company’s stock or any other similar statements. Going forward, the Company will affirmatively prohibit all third-party service
providers from including such statements in any investor relations or promotional materials respecting the Company. Finally, the
Company notes that investing in the Company’s stock involves risks and uncertainties which investors should review prior to making
investment decisions. The Company encourages those interested in the Company to rely solely on information included in press
releases issued and distributed by the Company via approved newswire services combined with its filings and disclosures made with
the Canadian securities regulators as well as information provided through the OTC Markets and available on their websites:
www.sedar.com and
www.otcmarkets.com, respectively.
For further information about MedMen, please visit
www.medmen.com or view the Company's filings at
www.sedar.com.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
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
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”.
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
OFFICER CONTACT:
Adam Bierman
Chief Executive Officer
Email: info@medmen.com
(833) 633-6362
MEDIA CONTACT:
Briana Chester
Director of Public Relations
Email: briana.chester@medmen.com
(424) 465-4419
INVESTOR RELATIONS CONTACT:
Stéphanie Van Hassel
Head of Investor Relations
Email: investors@medmen.com
(323) 705-3025
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