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Medmen Enterprises Inc
Symbol MMEN
Shares Issued 500,344,220
Close 2023-11-30 C$ 0.02
Market Cap C$ 10,006,884
Recent Sedar Documents

Medmen has no material changes

2023-11-30 16:33 ET - News Release

Ms. La Nida Cereno reports

MEDMEN PROVIDES ANNUAL FILING STATUS REPORT

Medmen Enterprises Inc. is providing this biweekly default status report in accordance with National Policy 12-203 -- Management Cease Trade Orders. On Nov. 2, 2023, the company announced that it had been granted a management cease trade order against the company's CEO (chief executive officer) and CFO (chief financial officer) (MCTO) by its principal regulator, the British Columbia Securities Commission. The MCTO prohibits trading in the corporation's securities by the company's CEO and CFO until the company files the required filings (as defined herein) and the MCTO is revoked but does not affect the ability of the company's shareholders to trade in the company's securities.

As previously announced in the company's press release dated Nov. 2, 2023, and the press release dated Nov. 16, 2023, the application for the MCTO was made by the company in respect of the late filing of the company's 2023 annual audited financial statements, its related management's discussion and analysis, and CEO and CFO certifications, which were required to be filed on or before Oct. 30, 2023.

In addition to the late filing of the required filings, as a result of the required filings anticipated to not being completed by Nov. 29, 2023, the company does not believe it will be in a position to file its interim financial statements, management's discussion and analysis, and related certifications for the three-month period ended Sept. 30, 2023.

Pursuant to the provisions of the alternative information guidelines specified in Section 4.4 of NP 12-203, the company reports that:

  • The company and its auditor are in the process of completing the required filings and the associated audit work, which were delayed for the reasons discussed in the initial press release.
  • The company anticipates that the required filings will be completed on or before Dec. 13, 2023.
  • There have been no failures by the company to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines.
  • There has not been, nor is there anticipated to be, any other specified default subsequent to the default which is the subject of the initial press release or as described herein.
  • The company has not taken any steps toward any insolvency proceeding and the company has no material information to release to the public.

The company confirms that it intends to continue to satisfy the provisions of the alternative information guidelines described NP 12-203 for so long as it remains in default of the requirement to file the required filings. The company has made the foregoing representations in accordance with the requirements of applicable securities laws.

About Medmen Enterprises Inc.

Medmen (Canadian Securities Exchange: MMEN and OTCMKTS: MMNFF) is a premier American cannabis company dedicated to improving life with cannabis for all. With operations across the United States in California, Nevada, Illinois, Arizona, Massachusetts and New York, Medmen is known for its leading Medmen and LuxLyte brands offering cannabis in consumer-preferred product forms for medical and recreational use. Medmen produces and curates the best consumer product assortment for retail operations in its local communities, and drives consumer loyalty with service and engaging in-store experience, combined with reward, delivery and e-commerce programs.

We seek Safe Harbor.

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