CALIFORNIA: MedMen Enterprises announced that it has qualified to trade on the OTCQX Best Market by OTC Markets Group under the ticker symbol MMNFF effective today.
The OTCQX market is reserved for established U.S. and global companies that meet high financial standards, provide timely news and disclosure to investors, and have a professional third-party sponsor introduction.
“MedMen’s step up to the OTCQX will expand our U.S. investor base and provide strong capital markets support to drive our continued growth,” said Adam Bierman, MedMen chief executive and co-founder. “The OTCQX market offers enhanced visibility and transparency, more efficient trading and increased liquidity for our investors. This is also reflective of the enormous progress we have made as an industry. U.S. cannabis companies are here to stay and we are creating jobs and wealth for generations to come.”
Today, MedMen has over 1,000 employees and operates 14 class-defining retail stores in the primary markets of California, Nevada and New York, in addition to cultivation and production factories in Nevada and New York. The Company recently signed a binding letter of intent to acquire PharmaCann, one of the largest medical cannabis providers in the U.S. Upon closing, the transaction brings the Company’s number of retail licenses to 67 and doubles the number of states where MedMen has operations to 12, including cultivation and manufacturing.
“Trading on the premium OTCQX Market will enable MedMen Enterprises to more efficiently provide their investors with current information and transparency,” said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. “We are pleased to welcome MedMen Enterprises and look forward to supporting the company as it builds long-term shareholder value.”