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[JohnCM]

Wait for it ...


Another anticipated “going public” event in the cannabis market is MedMen. The unique part of this IPO is that MedMen is a US (Los Angeles) based company but is choosing to do a reverse merger in the Canadian market rather than do an IPO in the states.

Company spokesman Daniel Yi explained that MedMen was choosing the Canadian Stock Exchange instead of something like the OTC Marketplace because, “It’s where companies like Canopy and MedReleaf have been able to raise lots of money.”

MedMen currently has 18 facilities that employ 700 people in 3 key states. The company operates scalable growing facilities as well as retail stores that have more of the feel of an Apple (AAPL) store than a dispensary.

MedMen DispensaryThe company has reported a total equity investment of $150 million to date and recent fundraising agreements with companies like Captor Capital (OTCPK:NWURF) values the company at roughly $1 billion. This comes after it was announced that Captor had entered into a non-binding letter of intent to invest $30 million equating to around 3% of MedMen.