The Canadian Securities Exchange announced the new listing for MedMen Enterprises (CSE: MMEN), which will begin trading on May 29th at 11AM E.T. with the symbol “MMEN”. The company may eventually have a second listing on the OTC or another exchange, but trading is limited to Canada, for now, following the company’s reverse-merger with Ladera Ventures, which are being reverse-split at a ratio of 1 to 9.263.
The California-based company has cannabis operations in California, Nevada and New York. According to the 322-page Management Information Circular filed in April, MedMen generated revenue in the year ending June 30, 2017 of US$ 9.34 million on a pro forma basis, with the company generating US$8.4 million of sales and an operating loss of US$43 million in the six months ending December 31, 2017 on a pro forma basis. The company has 435 million shares outstanding on a fully-diluted basis, suggesting a market cap of C$2.3 billion based upon the recent capital raise at C$5.25, or approximately US$1.76 billion.
Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email
