PharmaCann, which is due to merge with MedMen via a $682 million stock deal, received a state extension until October to complete the development of a cultivation facility in Buckeye Lake, Ohio.
The business website added that the acquisition is expected to take up to another 12 months to complete because of the multiple states in which PharmaCann operates.
MedMen trades on the Canadian Securities Exchange as MMEN and on U.S. over-the-counter markets as MMNFF.
Get access to more in-depth market analysis, premium features on cannabis investing trends and monthly executive webcasts with an Investor Intelligence subscription.