LOS ANGELES--(BUSINESS WIRE)--MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) is pleased to announce that it has closed its previously announced acquisition of Mattn Jeremy, Inc. d/b/a One Love Beach Club. This acquisition further enhances MedMen’s California footprint by adding a premier location strategically situated between the existing Santa Ana and LAX stores.

Including pending acquisitions, MedMen is licensed for 17 stores across California, of which 13 are currently operational. The Long Beach dispensary is located a few blocks away from the beach between Downtown and Belmont Shore and will also serve as a hub for the Company’s delivery launch across Long Beach and its surrounding communities. MedMen Buds, the Company’s nationwide loyalty program will also be available to all customers.

As consideration for the Acquisition, the Company paid $13 million, of which $10 million was satisfied in Class B Subordinate Voting shares (“Shares”), $1 million in cash at closing and $2 million in deferred cash.

ABOUT MEDMEN:

MedMen is a cannabis retailer with operations across the U.S. and flagship stores in Los Angeles, Las Vegas and New York. MedMen’s mission is to provide an unparalleled experience that invites the world to discover the remarkable benefits of cannabis because a world where cannabis is legal and regulated is a safer, healthier and happier world. Learn more at www.medmen.com.