MedMen has completed the sale of 3 properties for a profit of $18.4 Million. They plan to use the proceeds to help expand their growth opportunities in their national retail strategy.
MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) (FSE: A2JM6N) today announced that it has completed the sale of three properties to Treehouse Real Estate Investment Trust (“Treehouse”) with a net proceeds of approximately $18.4 million.
“These proceeds will be deployed into more accretive growth opportunities as we operationalize our national footprint,” said Adam Bierman, chief executive officer and co-founder.
Below is a list of properties included in the sale:
- One retail storefront located on Lincoln Blvd in Venice, California;
- One retail storefront located on Robertson Blvd, the closest dispensary to Beverly Hills, California;
- One 45,000 sq. foot cultivation and production factory located in Sparks, Nevada.
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