Cannabis multistate operator MedMen Enterprises finished its exit from the Florida market, having closed the sale of its assets for $67 million – $16 million less than when the sale was announced in February.
According to a news release, Los Angeles-headquartered MedMen sold all its Florida cannabis assets – including its medical marijuana business license, seven dispensaries, cultivation operations and existing inventory – to Green Sentry Holdings.
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The deal also calls for the licensing of MedMen trademarks in the state to Green Sentry, which is based in Fort Lauderdale, Florida.
The final transaction was for $63 million in cash and another $4 million in liabilities assumed by Green Sentry.
The original deal called for Green Sentry to pay $83 million in cash for all of MedMen’s Florida assets.
“The sale of MedMen’s Florida assets marks an important step in the company’s restructuring efforts designed to provide greater financial
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