MedMen Equity Offering Increased to $86 Million as Underwriters Exercise Option

MedMen Enterprises Inc. Announces Closing of Its C$86 Million Bought Deal Financing

LOS ANGELES, Sept. 27, 2018 (GLOBE NEWSWIRE) — MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQB: MMNFF) (FSE: A2JM6N) is pleased to announce that it has completed its previously-announced bought deal financing (the “Offering”) of 15,681,818 units (the “Units”) at a price of C$5.50 per Unit (the “Issue Price”), which included the exercise in full by the Underwriters of their over-allotment option, for aggregate gross proceeds of approximately C$86,250,000.

The Offering was conducted by way of a short form prospectus through a syndicate of underwriters led by Eight Capital and Cormark Securities Inc., as co-lead underwriters, and including GMP Securities L.P. (collectively, the “Underwriters”). Each Unit consists of one Class B Subordinate Voting Share in the capital of the Company and one-half of one share purchase warrant of the Company (each whole share purchase warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire, subject to adjustment in certain circumstances, one Class B Subordinate Voting Share in the capital of the Company at an exercise price of C$6.87 for a period of 36 months following the closing of the Offering.

The Company has received approval from the Canadian Securities Exchange (the “CSE”) to list the Warrants issued pursuant to the Offering. The Warrants are expected to commence trading under the ticker symbol “MMEN.WT” on the date hereof.

The net proceeds from the Offering will be used for expansion of the Company’s retail network, development of cultivation and production facilities, to fund operating cash flow and for general corporate and other working capital purposes.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

ABOUT MEDMEN:

MedMen Enterprises is a leading cannabis company in the U.S. with assets and operations across the country. Based in Los Angeles, MedMen brings expertise and capital to the cannabis industry and is one of the nation’s largest financial supporters of progressive marijuana laws. Visit http://www.medmen.com

Original press release

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