MedMen Announces Update to Bought Deal Financing

Published: November 19, 2018

MedMen Announces Update to Bought Deal Financing

MedMen Enterprises Inc. announces that the Company has agreed with Canaccord Genuity Corp., on behalf of a syndicate of underwriters consisting of Eight Capital and Cormark Securities Inc., to amend the offering to issue to the Underwriters 13,640,000 units at a price per Unit of $5.50 for gross proceeds of $75,020,000. Each Unit will be comprised of one Class B Subordinate Voting Share of the Company (each, a “Class B Share”) and one Class B Share purchase warrant (each a “Warrant”). The exercise price for each Warrant is amended to $6.87 per Warrant and the Warrants are exercisable for a term expiring on September 27, 2021.

The Company has amended the over-allotment option to allow for purchases up to an additional 2,046,000 Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. The over-allotment option may be exercised to acquire Units, Class B Shares, and/or Warrants of the Company. If this option is exercised in full, an additional $11,253,000 will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be approximately $86,273,000.

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