Fire Sale: MedMen Hope To Sell Off Arizona & Illinois Licences To Try & Raise $US54Million

Fire Sale: MedMen Hope To Sell Off Arizona & Illinois Licences To Try & Raise $US54Million

Another one of those, if we slip the press release out between Christmas & New Year maybe nobody will notice. We presume if there’s a license fire sale going on that means they can’t find the cash elsewhere?   Here’s the press release in full MedMen Provides Update on Sale of Non-Core Assets – Designated News Release December 27, 2019 06:00 AM Eastern Standard Time LOS ANGELES–(BUSINESS WIRE)–MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) (“MedMen” or the “Company”), a leading cannabis retailer with operations across the U.S., today announced the execution of term sheets for non-core asset sales (“Non-Core Asset Sales”), as well as the execution of definitive subscription agreements for its previously-announced equity placement (the “Equity Placement”). In total, the Non-Core Asset Sales and Equity Placement are expected to generate aggregate gross cash proceeds of approximately US$74 million. Non-Core Asset Sales: On November 15, 2019, the Company announced its intention to raise non-dilutive financing through the sale of certain non-core assets. As of today, the Company has executed a non-binding term sheet for the sale of its Arizona licenses, which include three vertically-integrated licenses, and a binding term sheet for the sale of a cultivation and manufacturing license in Illinois. The…

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Source : CANNANNEW REPORT
Link to original : Fire Sale: MedMen Hope To Sell Off Arizona & Illinois Licences To Try & Raise $US54Million
reposted by Cannabis News World

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