9jakoloNG

No. 1 Hotspot for Nigerian Music, Video, Sports and Entertainment News


’Apr’
’11’
Finance: One of the US’s biggest cannabis companies just laid out its plans to trade publicly
PublishedBy: in Business Insider/FinanceApril 11, 2018

marijuana

MedMen, which operates a chain of high-end marijuana dispensaries in the US, is going public.

  • MedMen, a cannabis retail company that operates a chain of slick, high-end marijuana dispensaries, announced it is going public through a reverse takeover.
  • MedMen's agreement is with OutdoorPartner Media Corporation, an unlisted Canadian Public Company.
  • The company will trade over the Canadian Securities Exchange.

One of the highest-valued US cannabis companies is going public.

MedMen, a cannabis retail company based in Los Angeles that operates a chain of slick, high-end marijuana dispensaries, announced it is going public through a reverse takeover of OutdoorPartner Media Corporation.

OutdoorPartner Media Corporation is an unlisted Canadian public company, meaning MedMen will likely trade over the counter in the US. The company will trade on the Canadian Securities Exchange (CSE) in Canada.

Cormark Securities Inc. and Canaccord Genuity Corp will underwrite the deal.

"This is an important milestone in the evolution of MedMen and the increasingly global cannabis industry. A major U.S. cannabis company is set to be publicly traded on a bona fide stock exchange," MedMen CEO Adam Bierman said.

"For nearly a decade we have been at the leading edge of the modern cannabis industry, putting ourselves in a dominant position in the most significant cannabis markets in the U.S.; California, Nevada and New York," he added.

MedMen is opening a flagship store on Manhattan's ritzy Fifth Avenue on April 20. While the store is geared towards the medical market, Daniel Yi, a senior vice president at MedMen told Business Insider earlier this month the company hopes to turn the store into a more "retail-oriented" experience, if New York legalizes marijuana for adult use.

Another marijuana company, Lift, also announced on Wednesday it has entered a letter of intent with MJ Opportunity Corp, to list on the TSX Venture Exchange (TSXV). Lift hosts North America's largest cannabis business expo in Toronto, and the company had revenues of $1,233,088 in 2017 and incurred a net loss of $2,047,095 as the company ramped up hiring for future growth.

Check out more of our cannabis industry coverage:

Support 9JAKOLO NG' journalism of integrity and credibility

 

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to 9JAKOLO NG, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate

Related Posts



9jakoloNG

Danny S – Sho Baadi Ni

9jakoloNG

Video: Tyga feat. Rich the Kid & G-Eazy – Girls Have Fun

Comment Below!

Your email address will not be published.