MedMen Enterprises Inc (MMEN)

[JohnCM]

Florida Expands Medical Marijuana Program to Meet Growing Demand

LOS ANGELES (July 27, 2018) - Florida announced it is issuing additional medical marijuana licenses and expanding existing ones to meet the state's accelerating patient demand, fueling an industry that is projected to reach sales between $175 million and $235 million this year.

By the end of June the medical marijuana patient count approached 130,000 in the state. That number has been growing at a rate of 2,500 a week. The Florida Department of Health recently issued a 14th license and an additional four licenses are planned. Each license will be allowed to open up to 30 dispensaries, compared to the 25 allowed today.

"The rapid growth of the medical marijuana program in Florida bodes well for the industry as a whole," said Adam Bierman, co-founder and chief executive of Los Angeles-based MedMen Enterprises, which recently signed an agreement to acquire dispensary and cultivation assets of Treadwell Simpson Partnership, one of the 13 original licenses in Florida. "It is another significant piece of the puzzle as we build a vibrant, legal cannabis industry in the country. The expansion of the medical program also helps build the infrastructure for an eventual adult-use market accessible to tourists from all around the U.S. and the world."

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ABOUT MEDMEN

MedMen Enterprises is the preeminent cannabis company in the U.S. with assets and operations nationwide. Based in Los Angeles, MedMen brings expertise and capital to the cannabis industryand is one of the nation's largest financial supporters of progressive marijuana laws. Visit http://www.medmen.com