Andrew Modlin Acquires Class B Subordinate Voting Shares of MedMen Enterprises Inc.

Marketing News – MarketingTools365 – Mktg News – Marketing Tools 365 – //// Business Marketing news and Mktg News : Andrew Modlin Acquires Class B Subordinate Voting Shares of MedMen Enterprises Inc. :

LOS ANGELES–(BUSINESS WIRE)–Andrew Modlin (the “Acquiror”), the President and a director of
MedMen Enterprises Inc. (the “Issuer”), each of the Acquiror and
the Issuer being located at 10115 Jefferson Blvd, Culver City, CA 90232,
announced today that on December 6, 2018 he acquired on the Canadian
Securities Exchange 335,815 Class B Subordinate Voting Shares of the
Issuer (the “Acquired Shares”) at an average price of C$3.901 per
Acquired Share, for aggregate consideration of C$1,310,014.

Prior to this transaction, Mr. Modlin held 3,956,324 Class B Common
Shares (the “PC Corp Class B Shares”) of MM Can USA, Inc. (“PC
Corp
”), a subsidiary of the Issuer, 9,661,939 LTIP Units of MM
Enterprises USA, LLC (the “LLC”), a subsidiary of PC Corp., and
815,295 Class A Super Voting Shares of the Issuer.

Subject to the terms and conditions thereof, the PC Corp Class B Shares
may be redeemed from time to time by the holders thereof for cash or an
equivalent number of Class B Subordinate Voting Shares of the Issuer
(the “Subordinate Voting Shares”), with the form of such
redemption consideration being at the option of PC Corp.

Subject to the terms and conditions thereof, upon vesting of the LTIP
Units and their conversion into common units of the LLC, the resulting
common units may be redeemed by the Acquiror for cash or an equivalent
number of Subordinate Voting Shares, with the form of such redemption
consideration being at the option of the LLC.

The Acquired Shares represent ownership of approximately 0.37% of the
Issuer’s issued and outstanding Subordinate Voting Shares on a
partially-diluted basis and approximately 0.06% on a fully-diluted
basis. Prior to the acquisition of the Acquired Shares, the Acquiror
owned approximately 12.92% of the Issuer’s issued and outstanding
Subordinate Voting Shares on a partially-diluted basis and approximately
2.51% on a fully-diluted basis. The Acquiror now beneficially owns
approximately 13.20% of the Issuer’s issued and outstanding Subordinate
Voting Shares on a partially-diluted basis and approximately 2.57% on a
fully-diluted basis. Other than as described above, the Acquiror does
not currently own or control any Subordinate Voting Shares or any other
securities of the Issuer, PC Corp or the LLC.

The Acquiror is also a unitholder of a fund that holds PC Corp Class B
Shares. The Acquiror’s percentage economic interest of such fund is
representative of 36,808,423 PC Corp Class B Shares.

The Acquiror hold the Acquired Shares for investment purposes only. The
Acquiror may increase or decrease his ownership or control over the
Subordinate Voting Shares, from time to time in the future, depending on
market or other conditions.

For further information, please contact Stéphanie Van Hassel, Head of
Investor Relations, MedMen Enterprises Inc., at investors@medmen.com
or (323) 705-3025.

This press release is issued pursuant to National Instrument 62-103 – The
Early Warning System and Related Take-Over Bid and Insider Reporting
Issues
, which requires a report to be filed on SEDAR (www.sedar.com)
containing additional information with respect to the foregoing matters.
A copy of this report may be obtained by contacting Stéphanie Van
Hassel, Head of Investor Relations, MedMen Enterprises Inc., at investors@medmen.com
or (323) 705-3025.

Contacts

MedMen Enterprises Inc.
Stéphanie Van Hassel, 323-705-3025
Head
of Investor Relations
investors@medmen.com

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