Brief: Medmen Announces Termination Of Merger Agreement With PharmaCann And Management Changes

Medmen Enterprises

08/10/2019 11:50

Oct 8 (Reuters) - Medmen Enterprises Inc  MMEN.CD :
    * MEDMEN ANNOUNCES TERMINATION OF MERGER AGREEMENT WITH
PHARMACANN
AND MANAGEMENT CHANGES
    * MEDMEN ENTERPRISES INC - MEDMEN WILL BE COMPENSATED WITH
RETAIL
AND CULTIVATION ASSETS IN ILLINOIS AND VIRGINIA
    * MEDMEN ENTERPRISES INC - APPOINTS ZEESHAN HYDER AS CHIEF
FINANCIAL OFFICER, EFFECTIVE IMMEDIATELY
    * MEDMEN ENTERPRISES INC - MEDMEN IS TARGETING BREAK EVEN
EBITDA
BY END OF CALENDAR 2020
    * MEDMEN ENTERPRISES INC - PHARMACANN HAS AGREED TO PAY A
TERMINATION FEE TO MEDMEN THROUGH A TRANSFER OF MEMBERSHIP
INTERESTS
    * MEDMEN ENTERPRISES INC - HYDER SUCCEEDS MICHAEL KRAMER,
WHOSE
EMPLOYMENT HAS BEEN TERMINATED AS OF OCTOBER 7, 2019
    * MEDMEN ENTERPRISES INC - CLOSING TIMELINE FOR TRANSACTION
WAS
SIGNIFICANTLY IMPACTED GIVEN REGULATORY HURDLES AT FEDERAL AND
STATE LEVEL

Source text for Eikon:  ID:nBw90w4Zba 
Further company coverage:  MMEN.CD 

 ((Reuters.Briefs@thomsonreuters.com;))