U.S. cannabis firm MedMen goes public in Canada with $2-billion-plus valuation

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Shares of upscale U.S. marijuana retailer MM Enterprises USA LLC are expected to begin trading on the Canadian Securities Exchange Tuesday, following the reverse takeover of a Canadian shell company and a $143-million raise that gives the company an implied value of more than $2 billion.

MedMen, which will trade as MMEN after acquiring oil and gas shell Ladera Ventures Corp., is by far the largest company listed on the CSE, and is expected to be the most valuable public U.S. marijuana company to date.

“The Canadian Securities Exchange … gives us the fastest access to liquid capital that we can get at this point,” said Daniel Yi, MedMen’s senior vice-president of corporate communications.

“We’re already in three states and we have a lot of projects that are in the pipeline. Our ability to raise capital fast is what will also allow us to grow and build faster,” he said.

Read full article and WATCH video here.

Mark Rendell – May 29, 2018.

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