MedMen Enterprises Inc.’s $100 Million Private Placement

Cassels acted for MedMen Enterprises Inc.

MedMen Enterprises Inc. completed a private placement of US$100 million of units at a purchase price of US$0.24 per unit to a group of investors led by Serruya Private Equity. Each unit consists of one MedMen share and one-quarter share purchase warrant, with each whole warrant permitting the holder to purchase one MedMen share for a period of five years from the date of issuance at an exercise price of US$0.288 per share. Each unit issued to certain funds associated with Serruya also included a proportionate interest in a short-term warrant that entitles the holders to acquire, on payment of US$30 million, at the option of the holders, an aggregate of 125,000,000 units at an exercise price of US$0.24 per unit, or US$30 million principal amount of notes convertible into 125,000,000 MedMen shares at a conversion price of US$0.24 per share.

MedMen Enterprises Inc. (CNSX:MMEN)  is a United States-based cannabis company with operations in California, Nevada, Arizona, Florida, Illinois, New York, and Massachusetts. 

The Cassels’ team included Gregory Hogan (Picture), Shaun Khullar, Jackson Phillips, Patience Kalu Omokhodion, Richard Ngo and Melissa Montana. 

Involved fees earner: Gregory Hogan – Cassels Brock & Blackwell LLP; Shaun Khullar – Cassels Brock & Blackwell LLP; Richard Ngo – Cassels Brock & Blackwell LLP; Patience Omokhodion – Cassels Brock & Blackwell LLP; Jackson Phillips – Cassels Brock & Blackwell LLP;

Law Firms: Cassels Brock & Blackwell LLP;

Clients: MedMen Enterprises Inc.;

Author: Martina Bellini