It’s the single biggest acquisition in the history of the U.S. cannabis market.
And it’s the latest pot merger in the NEW Marijuana Buyout Boom!
Go here to profit from this new $100 billion growth market.
A Los Angeles company called MedMen (OTC: MMNNF) will buy 100% of privately held PharmaCann.
PharmaCann is a Chicago medical marijuana dispensary with 10 locations across the Midwest.
The acquisition gives MedMen a footprint in Illinois, New York, Maryland, Massachusetts, Michigan, Ohio, Pennsylvania and Virginia.
After the pot merger, the combined company will be a dominant force in U.S. cannabis. MedMen will operate 66 retail stores and 12 production and cultivation facilities.
The timeliest opportunity will be MedMen’s presence in Michigan.
Michigan is the second-largest medical marijuana market in the U.S. – behind California. And with a population of 10 million people, Michigan will be a major recreational market.
Michigan voters are expected to legalize recreational cannabis on Nov. 6.
MedMen is acquiring PharmaCann in an all-stock transaction. After the acquisition, PharmaCann shareholders will own 25% of the combined company.
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MedMen has been on a buying spree.
The company’s made eight acquisitions in 2018. Those deals expand the company’s footprint to Las Vegas, San Diego, Florida, Arizona, Illinois and San Francisco.
Later this month, MedMen will report financial results for the fiscal year ending June 30.
Preliminary fourth-quarter results show $19.2 million in sales.
In southern California, MedMen’s seven retail locations generated $17.4 million in sales. These stores saw 224,000 customers during the quarter. The company is positioning itself as a high-end cannabis retailer – with customers spending $77 during an average store visit.
MedMen Stock Rallies on Pot Merger
Yesterday, MedMen shares rose 4%, even though the overall market was dropping.
Since MedMen announced the deal on Wednesday morning, MedMen stock is up nearly 16%.
The company is clearly one of the best positioned for the NEW buyout boom.
Yours in Profits,
Full Disclosure: Ian Wyatt owns shares of MedMen