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MedMen Enterprises Inc. Completes $75 Million Bought Deal Financing

Published: 12/05/2018

On December 5, 2018, MedMen Enterprises Inc. completed a bought deal financing of 13,640,000 units at a price of $5.50 per unit for aggregate gross proceeds of approximately $75 million.

The offering was conducted by way of a short form prospectus through a syndicate of underwriters led by Canaccord Genuity Corp., as lead underwriter, and including Eight Capital and Cormark Securities Inc. Each unit consists of one class B subordinate voting share in the capital of MedMen and one share purchase warrant of MedMen. Each warrant entitles the holder thereof to acquire, subject to adjustment in certain circumstances, one class B subordinate voting share in the capital of MedMen at an exercise price of $6.87 until September 27, 2021.

Cassels Brock acted for MedMen.