MedMen

MedMen, Surterra put up $1 million for adult-use marijuana push in Florida

Published September 12, 2019 | By Jeff Smith

MedMen and Surterra each contributed $545,000 to a campaign to legalize recreational cannabis in Florida. The two cannabis companies are backing Make It Legal Florida, which is seeking to collect the 766,000 signatures needed to put a constitutional amendment on the 2020 ballot. Their contributions, totaling $1.09 million, were first reported by Florida Politics. Surterra, […]

Former MedMen executive joins cannabis competitor

Published August 14, 2019

Ben Cook, a former MedMen chief operating officer, joined competitor Calyx Peak, a Nevada-based marijuana company with a presence in four states. In his new role as COO of Calyx Peak, Cook will oversee the entire company’s operations in California, Massachusetts, Nevada and Ohio, according to a news release. Ed Schmults, CEO of Las Vegas-headquartered Calyx […]

Antitrust issues weigh on US cannabis stocks, but is it enough to unravel deals?

Published July 31, 2019

The U.S. cannabis industry has seen billions of dollars of acquisitions in recent months, attracting scrutiny from federal trustbusters examining whether planned purchases could quash competition in the emerging marijuana industry. The U.S. Department of Justice’s review of the deals – including those involving Chicago-based Cresco Labs (CSE: CL; OTC: CRLBF) and Arizona-based Harvest Health & Recreation (CSE: HARV; OTC: […]

Former MedMen executives join high-profile marijuana companies

Published July 19, 2019 | By John Schroyer

Two more MedMen executives have left the California-based company for other cannabis industry jobs: Toronto-based Flower One Holdings announced that Kellen O’Keefe, ex-MedMen senior vice president of business development, joined its team as chief strategy officer. Meanwhile, Acreage Holdings, a New York-based multistate operator, announced it hired MedMen’s former senior vice president of technology, Alfred Miranda, as its […]

MedMen opens its first Florida medical cannabis dispensary

Published June 14, 2019

Multistate operator MedMen on Friday announced the opening of its first Florida medical marijuana dispensary, in West Palm Beach – the first of 12 such planned storefronts in the state. The California-based company said in a news release it’s also planning upcoming Florida dispensaries in Orlando and Key West. MedMen could eventually open as many […]

MedMen investors file to move lawsuit against cannabis firm into arbitration

Published June 6, 2019

After filing suit against MedMen in January alleging serious mismanagement and a breach of fiduciary duty – and asking a court for nearly $220 million in damages – two early investors in the California marijuana company announced this week they’ve withdrawn their lawsuit and are seeking arbitration. Daniel Petrocelli, attorney for plaintiffs Brent Cox and […]

Marijuana firm MedMen records $63.1 million loss in 3Q, slashes executive salaries

Published May 29, 2019

Los Angeles-based MedMen reported revenue of $36.6 million and a net loss of $63.1 million for its fiscal third quarter, ended March 30.

Marijuana investing, hedge funds and building a multistate MJ company: Q&A with Ascend CEO Abner Kurtin

Published May 29, 2019 | By Omar Sacirbey

Abner Kurtin spent almost his entire professional career in the hedge fund and investment industries before founding Boston-based Ascend Wellness in 2018 and trying his hand as the CEO of a multistate cannabis company.

Marijuana firm MedMen closes initial $80 million in funding from Gotham Green

Published May 23, 2019

MedMen, a multistate cannabis company based in California, said it closed on an initial $80 million tranche of funding from New York private equity group Gotham Green Partners (GGP). The money is the first part of a $250 million convertible credit facility with GGP that MedMen secured in March. More details on the funding can […]

Former MedMen CFO adds new allegations to lawsuit against cannabis company

Published May 3, 2019 | By John Schroyer

James Parker, former chief financial officer for marijuana company MedMen, has come forward with new allegations of wrongdoing against his former employer by adding two more causes of action to the breach of contract lawsuit he filed in January. The California-based, vertically integrated cannabis company called the lawsuit “baseless” and the allegations “meritless.” Parker, for […]

Three executives resign from marijuana firm MedMen

Published April 19, 2019

California-based cannabis retailer MedMen is undergoing another round of executive turnover at the top levels of the company, and the most recent losses include the chief operating officer, general counsel and company spokesman. Chief Operating Officer Ben Cook and general counsel Lisa Sergi resigned, MedMen announced in a news release. Sergi also served as a member […]

New York medical cannabis businesses fighting for priority in adult-use market

Published March 27, 2019 | By Jeff Smith

New York’s medical marijuana companies are fighting to get a first crack at any new recreational market when one is finally created, and they may be making some progress in their efforts. The adult-use draft bill from Gov. Andrew Cuomo’s office raised concerns among the state’s 10 medical marijuana license holders that some would be […]