Recently, MedMen Enterprises Inc. (CSE: MMEN) went public on the Canadian Securities Exchange (“CSE”) to all kinds of buzz and fanfare. Already a big player in the US, it plans on doing the same in Canada. MedMen Enterprises is the preeminent cannabis company in the United States with multiple assets and operations in California, Nevada and New York, which combined account for nearly half of North America’s addressable legal market. MedMen owns and operates licensed cannabis facilities in cultivation, manufacturing and retail, and is one of the most well recognized cannabis brands in the world today. In April, it finally completed (took over 2 years to construct) a state-of-the-art greenhouse and analytics lab in the city of Reno-Sparks, at a cost of $15 million. It is expected that this 45,000 square foot facility will produce upwards of 4,500 kilograms of cannabis per year. The company expects that some plants will be sold as buds and flowers while the rest will be used for edibles made at its company bakery. Edibles are much higher margin than dry leaf and can be sold at their store-fronts.
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The Fine Print
Spiro Sertsis, CPA, CMA
@SpiroSertsis