CANNABIS NEWS WORLDWIDE
MedMen opens first store in ArizonaMedMen has completed its acquisition of Omaha Management Services, LLC, for control of Monarch, a Scottsdale, Arizona-based licensed medical cannabis license holder with dispensary, cultivation and processing operations.
The transaction, with WhiteStar Solutions LLC included the acquisition of WhiteStar’s exclusive co-manufacturing and licensing agreements with Kiva, Mirth Provisions and HUXTON for the state of Arizona.
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The Monarch dispensary opened officially under MedMen management on Monday, December 3. It will eventually be rebranded as a MedMen store.
Arizona is one of the largest medical marijuana markets in the country with over 180,000 current patients.
The state also represents one of the larger addressable adult-use markets in the US. A ballot measure to legalize adult-use narrowly missed in 2016, and is expected to return in 2020.
Monarch was the first cannabis dispensary to be built in Scottsdale. In addition to the dispensary, MedMen now operates a 20,000-square-foot cultivation and manufacturing facility in Mesa, Arizona, which currently distributes branded products to over 60 dispensaries in the state.Adam Bierman, MedMen“As we look to operationalize the acquisitions we have made in recent months, our team has focused on timely and seamless transitions.”
MedMen paid approximately 80% in stock and 20% in cash for the assets.
The stock consideration will be satisfied by way of issuance of shares of MedMen Enterprises, Inc..
“From the signing of the letter of agreement in October to opening our first dispensary in Arizona, we have been able to activate in a matter of weeks.
“It is testament to the quality of our team and I couldn’t be prouder of our staff.”
Cannabis Business Worldwidehttps://www.cannabisbusinessworldwide.com/medmen-opens-first-store-in-arizona/
Marijuana Business Daily-Nov 1, 2018
MedMen expands its Arizona footprint with two retail locations in Scottsdale and Tempe ... medical marijuana business with operations in Scottsdale and Mesa.
Phoenix New Times-Oct 19, 2018
Marijuana Moguls: MedMen of California Enter Arizona Cannabis Scene ... dispensary in Scottsdale as well as its 20,000-square-foot cultivation center in Mesa.
Marijuana Business Daily-Oct 3, 2018
Los Angeles-based MedMen Enterprises is expanding into Arizona's large ... a vertically integrated MMJ business with operations in Scottsdale and Mesa.
Green Market Report-Oct 3, 2018
Arizona, with its robust medical marijuana program and connectivity to California ... to operate a 20,000-square-foot cultivation and manufacturing facility in Mesa, Arizona. ... In addition to the Arizona acquisition, MedMen is also purchasing ...
New Cannabis Ventures-Oct 2, 2018
MedMen Significantly Expands National Reach with Entrance into Arizona's Fast ... a 20,000-square-foot cultivation and manufacturing facility in Mesa, Arizona.
