Edward Record Transitioning to Non-Executive Board Director

LOS ANGELES, July 05, 2023–(BUSINESS WIRE)–MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF), a premier cannabis company with operations across the United States, today announced the appointments of Ellen Deutsch as Chief Executive Officer, effective immediately, and Amit Pandey as Chief Financial Officer, effective July 24th. Deutsch succeeds Interim CEO Edward Record, who will now continue as a non-executive member of MedMen’s Board of Directors. Deutsch has also been appointed to the Company’s Board of Directors, increasing the size of the Board of Directors to six.

“We thank Ed for his tenure as Interim CEO and success initiating MedMen’s turnaround and returning the Company to positive Adjusted EBITDA. We look forward to his continued presence as a member of our Board of Directors,” said Michael Serruya, MedMen’s Chairman. “Ellen’s leadership and strong operational experience in the public cannabis sector will prove invaluable as we complete our restructuring plan and transition into a new phase of growth for the Company.”

Deutsch brings deep operational, marketing, and financial experience and expertise in the cannabis and CPG industries, having most recently served as Senior Vice President of Market Development and Shared Services at Acreage Holdings (OTC: ACRHF), a vertically integrated, multi-state operator of cannabis cultivation and retailing facilities in the U.S. Before joining Acreage, Deutsch served as Executive Vice President/Chief Operating Officer at Stem Holdings, Inc (OTC: STMH), a vertically integrated cannabis branded products and technology company, following two decades in the C-suite of Hain Celestial (Nasdaq: Hain), predominantly as its Senior Vice President/Chief Growth Officer among other leadership roles.

“MedMen is one of the most recognizable brand names in cannabis and has a loyal base of consumers who trust it to deliver excellence in product and customer experience,” said Deutsch. “It is an exciting challenge to lead its team of dedicated professionals to deliver value for all stakeholders as we enter a new phase of the Company’s strategic vision and implement plans to strengthen our core.”

Pandey joins MedMen with a lengthy financial background in private and public markets spanning cannabis, consumer packaged goods (CPG), and fintech. He previously served as Executive Vice President and Interim Chief Financial Officer of Finance at Clever Leaves International, Inc (NASDAQ: CLVR), a global medical cannabis company with one of the world’s largest cultivation and extraction capacities, which he joined in its early stages and led to the public listing on NASDAQ. Prior to Clever Leaves International, Pandey served as the Chief Financial Officer of PayCommerce, LLC, a private-equity-backed B2B global cross-border platform fintech SAAS firm.

“Amit’s considerable background and experience in both the public and private capital markets in cannabis and CPG sectors will be critical to MedMen’s short-term restructuring and long-term growth,” said Serruya. “With the addition of Ellen and Amit, MedMen has completed the buildout of its go-forward management team.”

ABOUT MEDMEN:

MedMen is a premier American cannabis company with operations across the United States, in California, Nevada, Illinois, Arizona, Massachusetts, and New York. Known for its leading MedMen and LuxLyte brands, MedMen curates the best products for its retail operations and drives consumer loyalty with reward programs and convenience including home-delivery and curbside pickup. MedMen believes that a world where cannabis is legal and regulated is safer, healthier and happier.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230705616141/en/

Contacts

Lisa Weser
Trailblaze
MedMen@Trailblaze.co

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Closes on $63 million (plus the assumption of lease liabilities in Florida) purchase of MedMen’s Florida assets, including MMTC license, 14 Premium Retail Dispensaries, 30,000 square foot Cultivation Facility, inventory and other assets

FORT LAUDERDALE, Fla., Aug. 26, 2022 /PRNewswire/ — Green Sentry Holdings, LLC (“Green Sentry” or “the Company”), a Florida-based private cannabis operator, along with its parent company High End Holdings, LLC and MedMen Enterprises Inc (“MedMen”) (CSE: MMEN) (OTCQX: MMNFF), a cannabis retailer with operations across the United States, today announced that they have completed their previously announced arrangement, whereby Green Sentry has acquired all of MedMen’s Florida assets for a total consideration of $63 million plus the assumption of lease liabilities. The purchase was funded with the proceeds of a non-brokered equity raise and a $30 million debt facility from a private lender.

The cash deal includes substantially all of MedMen’s Florida-based assets, including a valid medical marijuana treatment center license issued by the Florida Office of Medical Marijuana Use, a portfolio of 14 premium dispensaries in prime shopping locations with ample parking, and its Eustis, Florida cultivation and processing facility (“Eustis Facility”) with 30,000 square feet of available canopy. The Green Sentry team has been retrofitting the Eustis Facility since March of 2022, and in the coming months, edibles production is expected to launch.

On Friday, August 26, 2022, MedMen locations in Fort Lauderdale (2949 N Federal Hwy), Miami (550 Collins Ave), Orlando (11551 University Blvd), Pensacola (5048 Bayou Blvd), St. Petersburg (326 5th Ave North), West Palm Beach (539 Clematis St), and Tallahassee (1126 Thomasville Rd) will all reopen under Green Sentry’s management and new pricing will be unveiled as well. Store hours will be 10:00 am to 7:00 pm Monday through Saturday and 10:00 am to 5:00 pm on Sunday.

In addition to the ongoing expansion of the Company’s Florida footprint, Green Sentry will launch Sunburn Cannabis, a brand based on the true story of Green Sentry’s CEO and Founder Brady Cobb and his late father. Clyde Walton “Bill” Cobb’s story as a cannabis operator in the 70s and 80s is an authentic part of Florida’s cannabis history. Sunburn is a Florida-focused brand living at the intersection of top-shelf flower and concentrates while embracing the state’s unique culture.  Green Sentry expects to launch the Sunburn Cannabis brand in the fourth quarter of 2022.

“As a team, we are beyond excited to re-enter the Florida market, where we have built a presence and a reputation for honoring the plant,” said Brady Cobb, CEO and Founder of Green Sentry. “It’s humbling to see my executive and operational teams stay together to close this transaction and launch Sunburn Cannabis. I’m incredibly proud to launch Sunburn and share my family’s passion and knowledge for the plant with people in Florida. Sunburn is a brand for Floridians by Floridians. I am also thrilled to add some key team members, including our Chairman and my good friend Danny Moses, as well as all of the MedMen employees who have joined our family. We have proven to the market previously that a Florida-focused company can produce the highest quality flower and concentrates, and now we are bringing our products to consumers via 14 of the best retail sites in Florida.”

“We are excited about the growth prospects of the Florida market and we believe in backing strong teams,” said Emily Paxhia, Managing Partner of cannabis-focused investment firm, Poseidon Asset Management. “The Sunburn team has experience coupled with deep knowledge of the market.”

Cultivation Footprint

Green Sentry’s cultivation and operations team began working on upgrades to the Eustis Facility in March 2022 and have already seen improvement in flower quality and yields. The Eustis Facility will soon increase HVAC capabilities; and install concrete floors, rolling benches, supplemental HPS lighting and an optimized fertigation system to further improve the quality of its flower. Green Sentry has secured a cultivation facility in Winter Garden, Florida which includes 27,000 sq ft of canopy in a Nexus Hybrid climate controlled Greenhouse plus a full GMP approved lab for hydrocarbon extraction, solventless extraction and the production of other derivative products (“Winter Garden“). Planned renovations for Winter Garden include the installation of supplemental HVAC, environmental controls and additional HPS lighting. Green Sentry also intends to break ground on an initial 75,000-square-foot indoor garden and processing facility at its property in Palm City, with plans to be fully operational by Q3 2023. The Palm City property can accommodate over 600,000 square feet of canopy, an essential addition as Florida licensees eye a potential adult-use constitutional amendment being added to the 2024 presidential ballot.

During the Transaction, Green Sentry was represented by Greg McLaughlin and the law firm of Tripp Scott, P.A. as well as Jeffrey Schlutz from Feuerstein Kulick LLP.

Media contact:
[email protected]

SOURCE Green Sentry Holdings, LLC

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

AWH received final approval to invest into MedMen’s New York subsidiary and is requesting to close the transaction imminently

NEW YORK, Dec. 30, 2021 /CNW/ – Ascend Wellness Holdings, Inc. (“AWH” or the “Company”) (CSE: AAWH.U) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator focused on bettering lives through cannabis, announced it has received final approval from the New York Cannabis Control Board (the “CCB”) and the Office of Cannabis Management of the CCB for its previously announced definitive investment agreement (the “Investment Agreement”) with MedMen NY Inc., the New York subsidiary of MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) (“MedMen”). AWH has given notice to MedMen of its intent to close the transactions contemplated by the Investment Agreement imminently.

About AWH:
AWH is a vertically integrated operator with assets in Illinois, Michigan, Ohio, Massachusetts and New Jersey. AWH owns and operates state-of-the-art cultivation facilities, growing award winning strains and producing a curated selection of products. AWH produces and distributes Ozone branded products. For more information, visit www.awholdings.com.

Forward-Looking Statements
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding the plans, intentions, expectations, estimates, and beliefs of the Company. Words such as “expects”, “continue”, “will”, “anticipates” and “intends” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the Company’s current projections and expectations about future events and financial trends, and on certain assumptions and analysis made by the Company in light of experience and perception of historical trends, current conditions and expected future developments and other factors management believes are appropriate.

Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Such factors include, among others: the risks and uncertainties identified in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, and in the Company’s other reports and filings with the applicable Canadian securities regulators and the U.S. Securities and Exchange Commission. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

The CSE has not reviewed, approved or disapproved the content of this news release.

SOURCE Ascend Wellness Holdings, LLC

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

<!– Click –> <!– –>