Medmen Makes History
NEW YORK, NY, USA, March 23, 2019 /EINPresswire.com/ — Medmen Enterprises, Inc. (OTCQX: MMNFF) Los Angeles-based cannabis company was rising more than 5% Friday after the company announced that it has secured a $250 million investment from Gotham Green Partners. The stock ended the day up 4.41%. The investment is in the form of a senior secured convertible credit facility in what MedMen describes as the "largest investment to date by a single investor in a publicly traded cannabis company with U.S. operations. This strategic partnership with Gotham Green Partners represents another key milestone for MedMen and stems from our long-standing relationship with the Cronos Group and GGP's brand portfolio," said Adam Bierman, CEO of MedMen. "The growth capital will be used to operationalize the balance of our footprint and we look forward to creating further alignment with GGP and their global cannabis platform.” The company indicated that it will use the net proceeds to fund the company's future capital needs, which include using its existing retail licenses in Florida and consolidating the supply chain.
Jetblack Corp. (OTC: JTBK) an Oregon-based cannabis company is focused on acquiring funding for its business operations and goals. The company intends to build out its location in Oregon for cultivation and processing. The company announced recently formation of a new wholly owned subsidiary named CenAviv™. The company intends to focus on creating a pharmaceutical grade edible for over the counter use. The company has intentions to build out a clean lab room to create unique edible formulations.
Source: EIN Presswire