Ticker - MMNFF
MedMen Enterprises | MMNFF
U.S. marijuana retail company MedMen Enterprises Inc. is laying off more workers and transferring voting rights away from a co-founder as it continues to fight off a cash crunch. Less than a month ago, the company said that it planned to lay off 190 workers, including 20% of corporate staff, in order to lower its
Executes new financing that will result in US$37 million in proceeds through new equity and additional debt Agrees to amend maturity date for the Company’s US$78 million term loan from October 2020 to January 2022 Enhances corporate governance through grant of super-voting share proxy Additional cost reductions targeted to result in corporate SG&A of US$65
Public opinion on cannabis is changing quickly, growing ever more lenient. In a short span, less than a lifetime, we’ve seen a series of decriminalization and partial legalization regimes take hold in the US. While the drug remains fully illegal at the Federal level, it is fully legal in 11 states and legalized for medical
MedMen Enterprises Inc (OTC: MMNFF) (CSE: MMEN) reported first-quarter results Wednesday as the cannabis company embarks on cost-cutting efforts that include 190 layoffs. MedMen reported revenue of $44 million, up by 105% on a year-over-year basis. The first-quarter gross margin was 52%, in contrast to 50% in the prior quarter. The adjusted EBITDA loss was $22.2 million.
MedMen Enterprises Inc. reported Tuesday that revenue rose 105% but the cannabis company missed Wall Street consensus sales estimates. The weed retailer reported a fiscal first-quarter net loss of $31.5 million, which amounts to 16 cents a share, versus $12.5 million, or 27 cents a share in the year-ago quarter. Revenue rose to $44 million
LOS ANGELES–(BUSINESS WIRE)– First quarter revenue of $44.0 million, up 105% year over year Opened four new retail locations during the quarter, including three in Florida and one in California Company is licensed for 70 retail stores and currently operates 33 retail locations across 9 states, including pending acquisitions Post quarter end, announced five-part plan