Replies to post #297 on MedMen Enterprises Inc (MMEN)

[PotterBanker]

MedMen Acquires Illinois Dispensary, Continues its U.S. Expansion

https://www.businesswire.com/news/home/20181003005308/en/

cquisition Grows Brand’s Presence to Country’s Three Largest Metropolitan Areas
October 03, 2018 06:00 AM Eastern Daylight Time

LOS ANGELES--(BUSINESS WIRE)--MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQB: MMNFF) (FSE: A2JM6N) today announced that it has signed a definitive agreement (the “Agreement”) to acquire Seven Point, a licensed medical cannabis dispensary located in the historic Chicago suburb of Oak Park, Illinois.

“MedMen will continue that tradition while bringing its industry-leading retail operations and commitment to quality and service.”
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Illinois is one of the fastest growing medical marijuana markets in the country. Since the beginning of the year the number of qualifying patients increased 41 percent to 42,203, and retail cannabis sales grew 35 percent, according to the state. Illinois also expanded its medical cannabis program recently to allow people who have been prescribed opioids the opportunity to obtain temporary medical cannabis cards.

“This acquisition brings the MedMen brand to yet another major stage,” said MedMen CEO and Co-founder Adam Bierman. “MedMen has established a presence in the primary markets of California, Nevada and New York. Our strategy has been to put our brand in high visibility commercial districts in popular locations like Beverly Hills, Manhattan, Las Vegas, and Oak Park, just outside Chicago, fits the mold perfectly.”

[Peaky Blinder]

It started at $5.00.... which in 3 months does not make it a winner.