MedMen Announces Delay Filing of Financial Statements for the First Fiscal Quarter of 2021, Ended September 26, 2020 and Issuance of Management Cease Trade Order

LOS ANGELES--(BUSINESS WIRE)--MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF), a leading cannabis retailer with operations across the United States, today announced it expects to be late in filing its financial statements and management’s discussion and analysis for the first quarter ended September 26, 2020 (the “Interim Financial Filings”) under applicable Canadian securities laws. The Company has filed a registration statement with the United States Securities and Exchange Commission (the "SEC") in connection with its loss of foreign private issuer status. While the registration statement was declared effective on October 23, 2020, the SEC and the Company are still in the comment phase. Changes to the Company's MD&A have been requested and the Company is still addressing these changes with the assistance of its auditors and legal counsel. The Company anticipates having management’s discussion and analysis for the first quarter of 2021 that fully addresses these comments within the next 10 days such that the Interim Financial Filings will be available for filing by or before December 7, 2020.

MedMen applied for a management cease trade order (“MCTO”) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”), which was issued today by the British Columbia Securities Commission. The MCTO does not affect the ability of investors who are not insiders to trade in the securities of the Company. MedMen intends to follow the alternate information guidelines contained in National Policy 12-203 for so long as it has not filed the Interim Financial Filings.

ABOUT MEDMEN:

MedMen is a cannabis retailer with flagship locations in California, Nevada, Illinois, Florida, and New York. MedMen offers a robust selection of high-quality products, including MedMen-owned brands [statemade], LuxLyte, and MedMen Red through its premium retail stores, proprietary delivery service, as well as curbside and in-store pick up. MedMen Buds, the Company’s loyalty program, provides exclusive access to promotions, product drops and content. MedMen believes that a world where cannabis is legal and regulated is safer, healthier and happier. Learn more about MedMen and The MedMen Foundation at www.medmen.com.

SOURCE: MedMen Enterprises