MedMen

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 […]

Cannabis financier Gotham Green Partners to invest up to $250 million in MedMen

Published March 22, 2019

MedMen, a California-based multistate marijuana operator, said it will receive an investment of up to $250 million from private equity fund Gotham Green Partners (GGP). The investment – a convertible credit facility – is believed to be the largest to date by a single investor in a publicly traded cannabis company with U.S. operations. The money […]

MedMen taking Miami Beach to court over cannabis dispensary regulations

Published March 21, 2019

Multistate marijuana operator MedMen is suing Miami Beach, Florida, claiming a local regulation – which requires medical cannabis dispensaries be at least 1,200 feet from each other – violates state law. According to the Miami Herald, MedMen is charging the city’s zoning ordinance would limit the number of dispensaries in Miami Beach to seven – which […]

NY marijuana trade group expels MedMen; company says it hasn’t been notified

Published March 13, 2019

The New York Medical Cannabis Industry Association (NYMCIA) has expelled California-based MedMen from its ranks, an organization spokesman confirmed to Marijuana Business Daily, but the company said it has yet to be notified of such a move. “(MedMen) didn’t resign, but then we threw them out,” said the spokesman, who requested anonymity. “They are no […]

Cannabis firm MedMen distances itself from stock promoter after OTC scrutiny

Published March 5, 2019

California-based marijuana retailer MedMen disclosed that a content production firm it paid wound up promoting the company’s stock through at least one online article, a move that drew scrutiny from U.S. over-the-counter trading officials. According to a news release, MedMen hired Winning Media in January to help bolster its image through online ads. Then, on […]

Marijuana firm MedMen’s fiscal Q2 sales grow, losses shrink from previous quarter

Published February 27, 2019

Los Angeles-based MedMen reported revenue of $29.9 million and a net loss of $64.6 million for its fiscal second quarter ended Dec. 29, as the multistate cannabis company saw its sales grow and red ink recede versus the previous quarter.

MedMen asked to resign from New York medical marijuana trade group

Published February 12, 2019

California-based cannabis retailer MedMen may be forced out of a medical marijuana trade group in New York, where it holds one of 10 MMJ business permits. According to the Daily News, the New York Medical Cannabis Industry Association (NYMCIA) asked the company to resign from the association because of allegations made by former MedMen CFO […]