MedMen: Losing PharmaCann Will Be Painful

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About: MedMen Enterprises Inc. (MMNFF), Includes: GTBIF
by: Cornerstone Investments
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Cornerstone Investments
Long/short equity, long-term horizon, cannabis industry
Summary

MedMen announced that the acquisition of PharmaCann is dead as both parties mutually agreed to terminate the deal.

MedMen will forgive $21 million in loans to PharmaCann while receiving four licenses in Illinois and Virginia as part of the termination.

MedMen is a much smaller company now both financially and operationally and it remains in survival mode given its weak finances.

Just weeks after MedMen (otcqb:MMNFF) touted the expiry of its HSR waiting period for the pending PharmaCann acquisition, both parties agreed to terminate the deal. The deal was one of the first