MedMen Comments on Recent Market Activity

LOS ANGELES–(BUSINESS WIRE)–MedMen
Enterprises Inc
. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX:
MMNFF) (FSE: A2JM6N) wishes to make the following statement regarding
recent market activity in its Class B Subordinate Voting Shares traded
on the OTCQX marketplace.

On February 26, 2019, OTC Markets made inquiries regarding certain
promotional activity concerning MedMen securities. The promotional
activity relates to promotional materials encouraging investors to
purchase the Company’s Class B Subordinate Voting Shares.

After due inquiry, the Company identified the promotional materials as
an article featuring the Company that was posted on February 25, 2019 on
the website marijuanastox.com by Wining Media LLC (“WM”). WM is an
independent third-party investor relations and consulting firm. The
Company engaged WM orally in January 2019 to provide public relations
and communication services for the Company. The Company’s engagement of
WM involved the creation by WM of digital content featuring the Company
and the purchase of advertisements on Google and Yahoo Finance intended
to drive awareness of the Company, its business and its securities. All
materials distributed by WM contained a legend stating they were
advertisements paid for by the Company. The Company provided WM with
supporting documents comprised of the Company’s public filings, the
Company’s prior press releases, and an investor relations presentation.
The Company’s officers had editorial input into the creation of the
article.

After due inquiry, the Company is unable to determine whether the
promotion resulted in increased trading activity in the Company’s stock.
While trading in the Company’s stock increased between February 26 and
February 28, 2019, the Company believes the Company’s announcement that
it would release quarterly earnings on February 27, 2019 was a factor
leading to this increase in trading activity.

Upon reviewing the content of the promotional materials, the Company
confirms that the statements and claims made were taken from the
Company’s public financial statements, historical press releases, the
investor relations presentation and other public documents which are
factual and non-misleading. However, there are statements made which
encourage investors to purchase the stock of the Company. The Company
has concluded, upon investigation, that, in this instance the article
was not approved according to the Company’s internal procedures. The
Company disclaims any potentially exaggerated or misleading statements
contained in the materials. Furthermore, the Company has instructed WM
to remove all promotional materials regarding the Company from the
public domain and to cease all promotional efforts on behalf of the
Company.

After due inquiry of the Company’s officers, directors, controlling
shareholders and third-party service providers, neither the Company, nor
any of its officers, directors, and to the knowledge of the Company, any
controlling shareholders or third-party service providers have sold the
Company’s securities within the past 90 days, other than that on
December 5, 2018 the Company completed a “bought deal” public offering
of 13,640,000 units at a price of CAD$5.50 per unit, for aggregate gross
proceeds of CAD$75,020,000. In addition, the Company’s co-founders
purchased the Company’s stock in the past 90 days. Specifically, CEO
Adam Bierman and President Andrew Modlin each purchased 342,660 Class B
Subordinate Voting Shares then valued at approximately US$1 million each
during December 2018. Neither Mr. Bierman nor Mr. Modlin has sold these
shares, nor have they sold any of the Company’s other securities they
hold, to date. All such transactions were in accordance with the
Company’s insider trading policy and were reported with the System for
Electronic Disclosure (www.SEDI.ca).

The Company has not issued any convertible debt or equity instruments
that allow conversion to equity securities at prices constituting a
discount to the current market rate at the time of the issuance.

The Company has engaged several firms to provide investor and public
relations services over the past year. Since February 2017 the Company
has engaged Edelman (New York, NY); Azione (New York, NY); Stockhouse
Publishing, Ltd (Vancouver, Canada); CFN Media Group (Whitefish,
Montana); and Wining Media LLC at various times to provide investor
relations services, public relations services, marketing or other
related services including the promotion of the Company, its business
and/or its securities.

The Company is committed to compliance with the OTC Markets Group Policy
on Stock Promotion and the OTCQX Standards and Canadian securities laws.
The Company does not condone the use of sensational language to describe
the Company’s business prospects or the growth potential of the
Company’s industry. The Company does not condone any statements made
regarding urgency to invest in the Company’s stock or any other similar
statements. Going forward, the Company will affirmatively prohibit all
third-party service providers from including such statements in any
investor relations or promotional materials respecting the Company.
Finally, the Company notes that investing in the Company’s stock
involves risks and uncertainties which investors should review prior to
making investment decisions. The Company encourages those interested in
the Company to rely solely on information included in press releases
issued and distributed by the Company via approved newswire services
combined with its filings and disclosures made with the Canadian
securities regulators as well as information provided through the OTC
Markets and available on their websites: www.sedar.com
and www.otcmarkets.com,
respectively.

For further information about MedMen, please visit www.medmen.com
or view the Company’s filings at www.sedar.com.

The Canadian Securities Exchange has not reviewed, approved or
disapproved the content of this news release.

ABOUT MEDMEN:

MedMen is a cannabis retailer with operations across the U.S. and
flagship stores in Los Angeles, Las Vegas and New York. MedMen’s mission
is to provide an unparalleled experience that invites the world to
discover the remarkable benefits of cannabis because a world where
cannabis is legal and regulated is a safer, healthier and happier world.

Learn more at www.medmen.com

Cautionary Note Regarding Forward-Looking Information and Statements

This press release contains certain “forward-looking information” within
the meaning of applicable Canadian securities legislation and may also
contain statements that may constitute “forward-looking statements”
within the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. Such forward-looking
information and forward-looking statements are not representative of
historical facts or information or current condition, but instead
represent only MedMen’s beliefs regarding future events, plans or
objectives, many of which, by their nature, are inherently uncertain and
outside of MedMen’s control. Generally, such forward-looking information
or forward-looking statements can be identified by the use of
forward-looking terminology such as “plans”, “expects” or “does not
expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate”, or “believes”, or
variations of such words and phrases or may contain statements that
certain actions, events or results “may”, “could”, “would”, “might” or
“will be taken”, “will continue”, “will occur” or “will be achieved”.

By identifying such information and statements in this manner, MedMen is
alerting the reader that such information and statements are subject to
known and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements of
MedMen to be materially different from those expressed or implied by
such information and statements. In addition, in connection with the
forward-looking information and forward-looking statements contained in
this press release, MedMen has made certain assumptions. Among the key
factors that could cause actual results to differ materially from those
projected in the forward-looking information and statements are the
following: the inability to consummate the proposed acquisitions; the
failure to obtain requisite regulatory approvals and third party
consents and the failure to satisfy other conditions to the consummation
of the proposed acquisitions, which could impact closing or closing on
the proposed terms and schedule; the potential impact of the
announcement or consummation of the proposed acquisitions on
relationships, including with regulatory bodies, employees, suppliers,
customers and competitors; changes in general economic, business and
political conditions, including changes in the financial markets;
changes in applicable laws; compliance with extensive government
regulation; and the diversion of management time on the proposed
acquisitions. Should one or more of these risks, uncertainties or other
factors materialize, or should assumptions underlying the
forward-looking information or statements prove incorrect, actual
results may vary materially from those described herein as intended,
planned, anticipated, believed, estimated or expected.

Although MedMen believes that the assumptions and factors used in
preparing, and the expectations contained in, the forward-looking
information and statements are reasonable, undue reliance should not be
placed on such information and statements, and no assurance or guarantee
can be given that such forward-looking information and statements will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such information and statements.
The forward-looking information and forward-looking statements contained
in this press release are made as of the date of this press release, and
MedMen does not undertake to update any forward-looking information
and/or forward-looking statements that are contained or referenced
herein, except in accordance with applicable securities laws. All
subsequent written and oral forward-looking information and statements
attributable to MedMen or persons acting on its behalf is expressly
qualified in its entirety by this notice.

SOURCE: MedMen Enterprises

Contacts

OFFICER CONTACT:
Adam Bierman
Chief Executive Officer
Email:
info@medmen.com
(833) 633-6362

MEDIA CONTACT:
Briana Chester
Director of Public
Relations
Email: briana.chester@medmen.com
(424)
465-4419

INVESTOR RELATIONS CONTACT:
Stéphanie Van Hassel
Head
of Investor Relations
Email: investors@medmen.com
(323)
705-3025

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