MedMen and Gotham Green Partners Close Additional Funding Tranche - Designated News Release

MedMen Enterprises Inc. (CSE:MMEN) (OTCQX:MMNFF) (FSE: A2JM6N) (MedMen or the Company) is pleased to announce that, further to its press release dated April 23, 2019, MedMen has been advanced an additional US$80,000,000 in gross proceeds pursuant to the US$250,000,000 secured convertible credit facility (the Facility) with Gotham Green Partners, an investor in the global cannabis industry.

Information


MedMen Enterprises Inc. (CSE:MMEN) (OTCQX:MMNFF) (FSE: A2JM6N) (“MedMen
or the “Company”) is pleased to announce that, further to its
press release dated April 23, 2019, MedMen has been advanced an
additional US$80,000,000 in gross proceeds pursuant to the
US$250,000,000 secured convertible credit facility (the “Facility”)
with Gotham Green Partners, an investor in the global cannabis industry.

MedMen has issued to the lenders additional convertible senior secured
notes (“Notes”), co-issued by the Company and MM CAN USA, Inc., a
subsidiary of the Company (“MM CAN”), with a conversion price per
Subordinate Voting Share of the Company equal to US$3.29 per share. The
lenders have also been issued 10,399,851 share purchase warrants of the
Company (“Warrants”), each of which is exercisable to purchase
one Subordinate Voting Share of the Company for a period of 36 months
from the date of issue. The number of Warrants issued represents an
approximate 50% Warrant coverage. The exercise price of 75% of such
Warrants is US$3.718 per share, with the remaining 25% of such Warrants
having an exercise price per share equal to US$4.29. As additional
consideration for the purchase of the Notes, at the time the lenders
were paid an advance fee of 1.5% of the principal amount of the Notes
purchased.

The Notes and the Warrants, and any Subordinate Voting Shares issuable
as a result of conversion of the Notes or exercise of the Warrants, will
be subject to a four month hold period from the date of issuance of such
Notes or such Warrants, as applicable, in accordance with applicable
Canadian securities laws.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful. The securities being offered have not been, nor will
they be, registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements of the United States Securities Act of 1933, as amended,
and applicable state securities laws.

About MedMen:

MedMen is a cannabis retailer with operations across the U.S. and
flagship stores in Los Angeles, Las Vegas and New York. MedMen’s mission
is to provide an unparalleled experience that invites the world to
discover the remarkable benefits of cannabis because a world where
cannabis is legal and regulated is a safer, healthier and happier world.
Learn more at www.medmen.com.

About Gotham Green Partners:

Gotham Green Partners, LLC is a New York and California-based private
equity firm focused on deploying capital into cannabis and
cannabis-related enterprises on a global scale. The firm manages a
diversified portfolio of investments and is actively investing across
the cannabis value chain.

Source: MedMen Enterprises