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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.
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.
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.
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.
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.
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.