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“It has been an honor serving the Long Beach community over the past ten years,” said the Abrams Family, owner and operators of One Love. “We look forward to MedMen continuing to provide our community with high quality cannabis.”

Transaction Details

As consideration for the transaction, the Company will pay $13 million, of which $10 million will be satisfied in Class B Subordinate Voting shares (“Shares”), $1 million in cash at closing and $2 million in deferred cash. The transaction is subject to regulatory approvals by local and state authorities and other customary closing conditions. The Company expects the transaction to close within 45 days.

1. Based on unaudited financials provided by One Love.

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.

Cautionary Note Regarding Forward-Looking Information and Statements

This press release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking information”) with respect to the Company, including, but not limited to: information concerning the completion of the contemplated business combination with PharmaCann, LLC, expectations regarding whether the contemplated acquisition will be consummated, including whether conditions to the consummation of the proposed acquisition of PharmaCann will be satisfied and whether the proposed acquisition will be completed on the current terms, the timing for completing the proposed acquisition of PharmaCann and other pending acquisitions, expectations for the effects of the proposed acquisition of PharmaCann and other pending acquisitions, including the potential number and location of facilities and stores or licenses therefor to be acquired, expectations regarding the markets to be entered into by or expansion in current markets by the Company as a result of completing such proposed acquisitions, the ability of the Company to successfully achieve its business objectives as a result of completing the contemplated acquisitions, estimates of future cultivation, manufacturing and extraction capacity, store related forecasts, including as to number of planned stores to be opened in the future, and any other statement that may predict, forecast, indicate or imply future plans, intentions, levels of activity, results, financial position, operational or financial performance or achievements. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, will”, “projects”, or “believes” or variations (including negative variations) of such words and phrases, or statements that certain actions, events, results or conditions “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Except for statements of historical fact, information contained herein constitutes forward-looking information.