MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF), a leading cannabis retailer with operations across the U.S., today announced the closing of US$10,000,000 in additional gross proceeds under its senior secured convertible facility (the “Facility“) led by funds affiliated with Gotham Green Partners (“GGP“) together with certain additional amendments to the facility and to the securities previously issued thereunder.
“We are excited to announce continued support from Gotham Green Partners as we continue to execute on our turnaround plan and look to grow our business,” said MedMen Chairman and Interim CEO, Tom Lynch.
The Company has been advanced an additional US$10,000,000 in gross proceeds (the “Third Restatement Advance”) under the amendments to the Facility. In connection with the Third Restatement Advance, the Company also issued to the lenders 62,174,567 share purchase warrants of the Company (the “Third Restatement Warrants“), each of which is exercisable to purchase one Share for a period of five (5) years from the date of issuance at an exercise price equal to US$0.1608 per Share. In connection therewith, the Company is co-issuing, with its subsidiary MM CAN USA, Inc., additional senior secured convertible notes (the “Notes”) to the lenders under the Facility in