MedMen, a dominant cannabis enterprise in the emerging legal marijuana industry, is now listed on the Canadian Securities Exchange (CSE).
The company made it on the exchange via a reverse takeover of oil and gas shell Ladera Ventures Corp.
Dubbed the “Apple Store” of cannabis retailers, MedMen is now trading under the ticker symbol MMEN. The company has raised a little over $19 million in the last two and a half weeks according to co-founder Adam Bierman.
Bierman said to Yahoo Canada Finance, “At this point in time there is no real comparable opportunity for (Canadian investors), they can certainly buy Canadian licensed producers of which there are a handful of really great opportunities. But this is the first time that people around the world are getting a pure U.S. opportunity.”
“Canada has been the hub for investors that wanted to get access,” says Bierman.
“You’ve got some really strong players that have emerged and I think that they have real sustainable business models.”
“Perhaps what it means for Canada is the culling of the herd, the line in the sand for when that begins,” adds Bierman. “I do foresee that type of evolution taking place, our listing really takes us to the next phase of that evolution.”