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MMEN - MMEN STOCK NEWS

Welcome to our dedicated page for MMEN news (Ticker: MMEN), a resource for investors and traders seeking the latest updates and insights on MMEN stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect MMEN's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of MMEN's position in the market.

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MedMen Enterprises announced a Private Placement of C$20 million, selling units at C$0.40 each, comprising one Class B subordinate voting share and a warrant to purchase shares at C$0.50. The funds aim to boost production capacity in Florida from 8,000 to 22,000 pounds annually, expand manufacturing capabilities, and open 15 operational stores in the next year. The company also plans to fund costs for new locations in Massachusetts, Illinois, and California. MedMen highlights significant progress in its turnaround strategy, with an emphasis on operational efficiency and brand strength.

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MedMen Enterprises (CSE: MMEN, OTCQX: MMNFF) has signed a definitive investment agreement with Ascend Wellness Holdings (AWH) for up to $73 million. This investment is aimed at MedMen NY Inc., its New York subsidiary, and requires regulatory approval. AWH will provide $35 million in cash and issue a senior secured promissory note for $28 million to reduce MMNY's debt. Following this investment, AWH will hold about 86.7% equity in MMNY and can acquire MedMen's remaining interest in the future. This move is expected to enhance New York's medical marijuana program.

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MedMen Enterprises has executed subscription agreements for a private placement with institutional investors, aiming to raise approximately US$5.8 million. The offering price is set at US$0.3713 per unit, with each unit comprising a Class B subordinate voting share and a five-year warrant priced at US$0.4642 per share. The initial tranche includes 7,800,000 units, generating US$2.9 million in gross proceeds.

MedMen will file a resale registration statement with the SEC within 15 days after closing to register these shares.

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MedMen Enterprises reported its second-quarter fiscal 2021 results, showing a net revenue of $33.8 million, a slight increase of 0.3% sequentially, despite retail restrictions in California. The gross margin improved to 53% from 47% in the previous quarter, while SG&A expenses decreased by 47% year-over-year to $33.8 million. However, the company faced a net loss of $68.9 million, significantly less than last year's $93.2 million. Management remains optimistic about future growth driven by brand recognition and operational improvements.

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MedMen Enterprises Inc. (CSE: MMEN, OTCQX: MMNFF) has engaged Moelis & Company LLC as its financial advisor to explore strategic alternatives aimed at enhancing the Company's future prospects and maximizing stakeholder value. CEO Tom Lynch expressed enthusiasm about the partnership, highlighting its importance for MedMen's professional growth and its commitment to serving customers, employees, and shareholders effectively. MedMen operates prominent cannabis retail locations across key U.S. cities, offering a diverse range of products and a customer loyalty program.

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MedMen Enterprises Inc. (CSE: MMEN; OTCQX: MMNFF) will release its financial results for Q2 fiscal 2021 on February 16, 2021, after market close. This period ended on December 26, 2020. Following the results, MedMen will host a conference call at 5:00 PM Eastern, featuring CEO Tom Lynch, CFO Reece Fulgham, and COO Tim Bossidy to discuss the financials in detail. Investors can access a live audio webcast and archive on MedMen's investor website.

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MedMen Enterprises announced the closing of US$10,000,000 in gross proceeds under its senior secured convertible facility, led by Gotham Green Partners. The facility includes amendments allowing for additional financing and the issuance of 62,174,567 share purchase warrants. Further modifications include changes to liquidity covenants, allowing for adjustments in response to the company’s financial status. Upcoming conversions and warrant exercises could lead to significant share dilution, impacting current shareholders. This financing supports MedMen’s turnaround strategy amidst ongoing financial challenges.

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MedMen Enterprises, a cannabis retailer, announced the cancellation of 815,295 Class A super voting shares held by Andrew Modlin, effective December 10, 2020. This action resulted from a purchase agreement dated January 30, 2020. Following the cancellation, the company now has only one class of outstanding shares, the Class B subordinate voting shares. MedMen operates flagship locations across the U.S., offering a variety of cannabis products, including its proprietary brands through retail and delivery services.

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MedMen Enterprises Inc. (CSE: MMEN, OTCQX: MMNFF) has appointed Reece Fulgham as its Interim Chief Financial Officer, effective December 21, 2020. Fulgham replaces Zeeshan Hyder, who will assist in the transition until early January. Tom Lynch, the interim CEO, praised Hyder's contributions during a challenging period and expressed confidence in Fulgham's turnaround expertise to enhance revenue and profitability. Fulgham brings over 30 years of experience in accounting and restructuring, previously working with notable companies. MedMen operates cannabis retail locations across key U.S. states.

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MedMen Enterprises, a prominent U.S. cannabis retailer, has announced the election of Tom Lynch as Chairman of the Board, effective immediately. Lynch is currently serving as the interim CEO of MedMen and joined the Board in November. His predecessor, Ben Rose, has resigned from both his roles as Chairman and as a Board member. MedMen operates flagship retail locations across several states and offers various high-quality cannabis products, including its own brands and a unique loyalty program called MedMen Buds.

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