MedMen Cancels Sale Of 98M Shares On Heels Of Two Cash Positive Quarters

MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) announced Monday that warrants to acquire 97,785,140 Class B Subordinate Voting Shares of the company are canceled.

The move comes following the two consecutive quarters of positive retail cash flow, the Los Angeles-based company said.

Jason Adler, the co-founder and managing partner of Gotham Green Partners, said they are “pleased to forfeit the ‘in-the-money’ warrants as previously agreed,” under a deal between MedMen, Gotham Green Admin 1, LLC, and certain lenders.

“We challenged MedMen to prove they could achieve consecutive quarters of positive retail cash …

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