The Mint Cannabis entered into definitive agreements to acquire Non-Core Business Operations in Arizona and Certain Assets in Nevada from MedMen Enterprises Inc. (CNSX:MMEN) on December 20, 2023. Consideration comprises a minimum of an aggregate of $24.0 million of cash, which is subject to certain tax liability, net working capital and other adjustments, and short-term seller notes in the principal amount of $5.5 million, subject to certain tax liability adjustment, and the assumption of certain liabilities. In particular, the transactions comprise of the sales of the Company?s wholly-owned operating subsidiary in Arizona and its two operating dispensaries located in Clark County in Nevada.

The transactions consist of the sale of MedMen?s wholly-owned operating subsidiary in Arizona and its two operating dispensaries located in Clark County, Nevada. The transaction is subject to customary closing conditions, including, among others, the receipt of applicable regulatory approvals. ATB Capital Markets Inc. acted as financial advisor and Raines Feldman Littrell LLP acted as legal advisor to MedMen. CLD Advisory acted as financial advisor to MINT Cannabis.

The Mint Cannabis completed the acquisition of Non-Core Business Operations in Arizona and Certain Assets in Nevada from MedMen Enterprises Inc. (CNSX:MMEN) on January 5, 2024.