MedMen Enterprises Inc. today announced that it has actually signed a definitive contract with WhiteStar Solutions to get control of Queen, a Scottsdale dispensary, and its cultivation and processing operations through the acquisition of Omaha Management Provider. In addition, MedMen will obtain from WhiteStar their special co-manufacturing and licensing agreements with Kiva, Mirth Provisions and HUXTON in Arizona.
” Our technique has been to develop our brand name in the main markets of California, Nevada and New York City,” said Adam Bierman, MedMen chief executive and co-founder. “We have a leading presence in those primary markets and we are now all set to expand our reach. Arizona, with its robust medical marijuana program and connection to California and Nevada where our brand name is currently strong, makes this an excellent fit.”
Founded in 2013, Monarch is understood for remarkable patient service, dedication to marijuana education and ingenious operational concepts. King was the very first dispensary to begin in Scottsdale and has a run rate profits of over $10 million.
In addition to the dispensary, Monarch is licensed to run a 20,000-square-foot cultivation and manufacturing center in Mesa. As one of the top wholesalers in the Arizona market, Monarch disperses top quality items to over 60 dispensaries in Arizona.
As consideration for the acquisition, the Business will pay around 80 percent in stock and 20 percent in money. The stock consideration will be pleased by way of issuance of shares of MedMen Enterprises, Inc.
. The deal is expected to close within 90 days and undergoes popular closing conditions.
AP Photo/Richard Vogel