Ascend Wellness Holdings, Inc. (OTCQX:AAWH) (CSE:AAWH) and MedMen NY, Inc., and MM Enterprises USA, LLC (OTCQX:MMNFF) recently signed a term sheet agreeing to settle their lawsuit in the Commercial Division of the Supreme Court of the State of New York in New York County. AWH was suing MedMen for refusing to close $73 million investment transaction, approved by State of New York.
At the time of the settlement AWH founder and CEO Abner Kurtin stated, “We are thrilled to put this dispute behind us and look forward to the imminent closing of this transaction. We continue to build scale in some of the most sought-after locations in premier, limited license markets in the country, and with this investment, we will bring our high-quality products and exceptional retail experiences to our seventh state. While we always seek accretive deals, this transaction is particularly attractive given a recent comparable acquisition valued at $247 million."
