The press launch is brief and sharp

MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF) immediately (18 June 2020) introduced that Adam Bierman, Co-Founder, stepped down as a member of the Company’s Board of Directors. In addition, Andrew Modlin, the Company’s different Co-Founder, stepped down as an observer to the Company’s Board of Directors. Mr. Modlin’s employment settlement with the Company expired on May 18, 2020.

MedMen additionally introduced immediately {that a} settlement has been reached to resolve the litigation between MMMG-MC Inc. (BVI), Brent Cox, Omar Mangalji, et al. (“Claimants”) and varied events, together with MedMen.

Claimants initially filed swimsuit in Los Angeles Superior Court on January 8, 2019 and subsequently moved the litigation into non-public arbitration.

MedMen and different events petitioned the Superior Court to compel arbitration on November 11, 2019. MedMen issued 1.5 million Class B Subordinate Voting Shares to MMMG-MC as an element of the total 24 million share settlement with Claimants, which included contributions from different events and allowed the issuance of shares to all MMMG shareholders.

Although MedMen denies any wrongdoing, the Company believes its contribution to the settlement is in the greatest curiosity of its shareholders. The events are in the course of of dismissing the arbitration and courtroom proceedings consequently of the settlement.


The data, although shouldn’t be but to be discovered at their web site’s newsroom

Source link