U.S. cannabis company MedMen gains listing in Canada
MedMen Enterprises Inc, a Los Angeles-based legal cannabis cultivator, producer and retailer, has begun trading on the Canadian Securities Exchange with the completion of a reverse takeover of a Canadian public vehicle. The company raised about $143 million (US$110 million) through a private placement, which implies a valuation of $2.14 billion (US$1.65 billion). Founded in 2010, MedMen owns and operates 18 licensed facilities in California, Nevada and New York. It has secured private equity and venture capital financing, estimated in a Financial Post report to total US$135 million, from a range of investors.
29 May 2018•5 mins read
