Med­i­cal cannabis ac­qui­si­tion largest ever

Chicago Sun-Times - - BUSINESS -

MedMen En­ter­prises Inc. has ac­quired Phar­maCann, one of the largest med­i­cal cannabis providers in the U.S., for $682 mil­lion, mak­ing it the largest ac­qui­si­tion in his­tory of the bud­ding cannabis in­dus­try.

Com­bined, the com­pa­nies have cannabis li­censes in 12 states and op­er­ate 79 cannabis fa­cil­i­ties. MedMen, which had li­censes in Cal­i­for­nia, Ne­vada, New York, Illi­nois, Ari­zona and Florida, gains li­censes in Mass­a­chu­setts, Mary­land, Michi­gan, Vir­ginia, Ohio and Penn­syl­va­nia.

After ac­quir­ing Oak Park-based Phar­maCann, MedMen will have 66 re­tail stores and 13 cul­ti­va­tion and pro­duc­tion fa­cil­i­ties.

“This is a trans­for­ma­tive ac­qui­si­tion that will create the largest U.S. cannabis com­pany in the world’s largest cannabis mar­ket,” said Adam Bier­man, MedMen’s chief ex­ec­u­tive of­fi­cer and co-founder. “This would not have been pos­si­ble even two years ago and is a tes­ta­ment to how far both the in­dus­try and these two com­pa­nies have evolved. Phar­maCann’s lead­er­ship has built a world-class or­ga­ni­za­tion, and we are ex­cited about the value this trans­ac­tion is cre­at­ing for share­hold­ers.” Alice Baz­erghi

Face­book re­moves more than 800 pages, ac­counts over spam­ming

NEW YORK — Face­book said it has purged more than 800 U.S. pages and ac­counts for spam­ming users with po­lit­i­cally tinged garbage links and click­bait just weeks ahead of the U.S. midterm elec­tions.

The banned ac­counts and Face­book sites ex­hib­ited “co­or­di­nated in­au­then­tic be­hav­ior” such as work­ing to­gether to make the

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