Green Sentry Holdings, LLC, a Florida-based private cannabis operator, along with its parent company High End Holdings, LLC and MedMen Enterprises Inc (OTCQX:MMNFF) (CSE:MMEN) , a cannabis retailer with operations across the United States, have completed their previously announced arrangement, whereby Green Sentry has acquired all of MedMen's Florida assets for a total consideration of $63 million plus the assumption of lease liabilities. The purchase was funded with the proceeds of a non-brokered equity raise and a $30 million debt facility from a private lender.
The cash deal includes substantially all of MedMen's Florida-based assets, including a valid medical marijuana treatment center license issued by the Florida Office of Medical Marijuana Use, a portfolio of 14 dispensaries in prime shopping locations with ample parking, and its Eustis, Florida cultivation and processing facility with 30,000 square feet of available canopy. The Green Sentry team has been retrofitting the Eustis Facility since March of 2022, and in the coming months, edibles production is expected to launch.
