Monday, June 23, 2025

Ascend Wellness Continues To Fight Medmen Over New York Asset

After losing its New York investment arrangement with Medmen Enterprises (CSE: MMEN), it appears that Ascend Wellness (CSE: AAWH) is not exiting stage left gracefully. The firm this morning issued another release on the matter, indicating that Medmen, “has continued to breach the investment agreement.”

Ascend has now reportedly informed Medmen that their “termination attempt was invalid,” given that they attempted to terminate the arrangement based on not receiving approval by state regulators. Ascend has stated that the California-based operator is “essentially challenging the regulators’ authority and ignoring the regulations of the state’s medical program.”

Medmen, for their part, however appears entirely uninterest in closing the arrangement with Ascend. The company has however kept things more professional in the public sphere, issuing a simple press release that it has terminated the arrangement.

Under the original arrangement, Ascend was to take an 86.7% in Medmen New York in exchange for $73 million. The transaction was to consist of $35 million in cash, as well as a senior secured promissory note to the tune of $28 million and a $10 million investment into Medmen New York. The firm was to also enter into a management services arrangement, and receive an option to acquire the remaining interest in the state.

The approval of the arrangement was subject to approvals from the New York State Department of Health and other regulatory bodies.

Ascend Wellness last traded at US$6.00 on the CSE.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Tudor Gold x American Creek: Consolidating A Massive Gold Project

Aura Minerals: The Era Dorada Underground PEA

Gold Is Now Smart Money’s End Game | Doug Casey

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

Is the End of the Line Near for MedMen?

It’s long been known by cannabis industry followers that MedMen Enterprises (CSE: MMEN) has a...

Tuesday, June 11, 2019, 07:30:12 AM

Medmen Posts Revenues of $43.9 Million, Net Loss of $82.6 Million For First Quarter

Medmen Enterprises (CSE: MMEN) filed its first quarter 2020 financials these evening, revealing revenues of...

Tuesday, November 26, 2019, 05:02:41 PM

Ascend Wellness Adds Second Ohio Dispensary To Operations

Ascend Wellness (CSE: AAWH.u) appears to be expanding its presence in Ohio. The firm this...

Wednesday, December 22, 2021, 07:51:10 AM

Medmen Cancels Guidance, Amends GGP Facility, Names Interim Officers

Medmen Enterprises (CSE: MMEN) this morning released a corporate update that covered a range of...

Monday, March 30, 2020, 08:29:02 AM

Tilray Sees Gotham Green Look To Sell Recently Acquired Shares

It appears that Gotham Green Partners has approximately zero interest in being a shareholder of...

Monday, September 20, 2021, 08:32:00 AM