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MedMen to Exit Arizona and Nevada, Sell Assets to Mint Cannabis

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MedMen to Exit Arizona and Nevada, Sell Assets to Mint Cannabis


The long-embattled Florida-based MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) announced Wednesday that it agreed to sell its cannabis assets in Arizona and Nevada to competitor Mint Cannabis, an Arizona-based multistate operator, and will exit those markets.

In total, MedMen will sell its subsidiary in Arizona and two dispensaries in Las Vegas. The terms of the deal were not disclosed, but the deals were a result of MedMen’s “strategic review and evaluation of divestiture opportunities,” according to a statement from the company.

MedMen CEO Ellen Deutsch Harrison, who took the reins at the struggling multistate operator in July, said the company has made “good progress in our restructuring efforts.”

“These transactions will bolster liquidity in the short term, reduce liabilities, and enable the company to focus on operating efficiencies and executing our long-term asset-light growth strategy in our core markets,” Harrison said.

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Mint Cannabis’ CEO, Eivan Shahara, celebrated the agreement, which gives the company MedMen’s Talking Stick dispensary in Scottsdale and a grow facility in the Arizona town of Mesa, along with the pair of Las Vegas shops.

“Mint Cannabis is pleased to have reached an agreement with MedMen and has strong ambitions to continue to build our footprint through both organic and strategic growth across various key markets in the U.S.,” Shahara said.

The exits leave MedMen with a marijuana industry footprint in just four states: California, Illinois, Massachusetts, and New York, according to the company’s website.

MedMen also notified stock regulators last month that it would be late in filing its third quarter financial reports for the three months that ended Sept. 30, but said it would have the filing in by Dec. 13. But the quarterly report has yet to appear on SEDAR, the Canadian database for all companies that trade on the Canadian Securities Exchange.

The company was issued a management cease trade order by the British Columbia Securities Commission on Nov. 1 as part of the filing delay.

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The last time the company reported quarterly earnings was in May, when it released its third quarter fiscal 2023 results for the three months that ended March 25. At that point, MedMen had a working capital deficit of $383 million and just $7.6 million cash on hand.



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Nevada vs. San Jose State, Arkansas State vs. South Alabama picks: CFB odds, predictions

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Nevada vs. San Jose State, Arkansas State vs. South Alabama picks: CFB odds, predictions


Now that paycheck games are largely behind the Group of Five teams, it’s time to identify a few schools flying under the national radar in college football.

This week I’m setting my sights on star passers who are primed to tear up the Mountain West and Sun Belt conferences.

Nevada at San Jose State (7:30 p.m. ET, truTV/Max)

Non-public teams have a better chance of ending a season as a gambling darling, compared to, say, an Alabama or Notre Dame.

You’re not paying a premium for the helmet, so to speak, when you back a team like San Jose State.

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The Spartans are 4-0 ATS this season, easily covering by an average margin of 10.8 points per game.

So why are sportsbooks still hanging generous numbers when SJSU plays?

Well, there was reasonable skepticism surrounding the SJSU program just a month ago.

Brent Brennan was one of the last coaches to nab a major job during the offseason, leaving SJSU in the lurch late in the process.

AD Jeff Konya turned to Ken Niumatalolo, a proven winner at the Naval Academy (109 wins, 10 bowl bids).

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But a big question remained: What kind of offense would the option-centric Niumatalolo implement in the Bay Area?

He quickly put that concern to rest by hiring Craig Stutzmann as his coordinator.

Stutzmann’s “Spread n’ Shred” offense has been a revelation.

Nick Nash, SJSU’s go-to receiver, leads the nation in receptions and receiving touchdowns.

And you’d never know that Niumatalolo coached up triple-option quarterbacks for two decades in Annapolis when you watch Emmett Brown spin it.

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The undersized sophomore is thriving, averaging more than 320 passing yards per game with a stellar 13-4 touchdown-to-interception ratio.

This might be the last week to play the Spartans before the secret is out on this MWC contender.

Nevada will put up a good fight, but Brendon Lewis will likely wilt in a shootout when facing SJSU’s pressure defense.

The Spartans rank 30th in both pass-rushing grade and defensive havoc.

I expect a few costly turnovers from Lewis in a comfortable win for the Spartans.

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Recommendation: San Jose State -6.5 (-115, FanDuel).

Wolf Pack quarterback Brendon Lewis throws a pass during Nevada’s 27-0 loss to Minnesota on Sept. 14, 2024. Matt Krohn-Imagn Images

Arkansas State at South Alabama (7 p.m. ET, ESPN+)

This game features two up-tempo offenses with dynamic dual-threat quarterbacks who are facing defenses ranked in the bottom 20 of the FBS.

Casual observers might see two inconsistent offenses, but there are simple explanations for that.

In the case of Arkansas State, it has drawn two elite Power Four defenses in the past two weeks (Michigan, Iowa State).

South Alabama, likewise, played on the road in Death Valley last week and was manhandled by LSU.

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Additionally, USA played a game earlier in the season with star quarterback Gio Lopez sidelined with turf toe.


Betting on College Football?


When Lopez and Arkansas State’s Jaylen Raynor are operating against lousy G5 defenses, they fill up the stat sheet.

In games against Central Arkansas and Tulsa, Raynor performed like an all-SBC quarterback, racking up 694 total yards and five total touchdowns.

With the exception of the LSU game, Lopez has accounted for three or more touchdowns in each of his starts this season, guiding South Alabama to a scoring average of 57.6 points per game across those three games.

He’s flanked in the backfield by Fluff Bothwell, one of the best-kept secrets in college football.

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The breakout freshman is averaging more than 8 yards per carry and will be running into a lifeless ASU defense that ranks 130th in tackling, per Pro Football Focus.

Recommendation: Over 61 total points (-110, Caesars).


Why Trust New York Post Betting

Mike Calabrese is a handicapper for the New York Post, with a sharp focus on college sports. His betting advice often centers around situational spots, including travel, rest and altitude disparities.



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Nevada County Health Fair to celebrate second year

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Nevada County Health Fair to celebrate second year


Following a successful inaugural year in 2023, the Nevada County Health Fair will return Wednesday, October 9, to offer a one-stop shop for health care resources for the elderly, those with disabilities, and the caregivers who aid them.

“Last year we had over 350 people come,” said co-organizer Barbara Larsen. “It was really something. For a lot of us, what was so sacred about it is that coming out of COVID the vendors and the people who attended were feeling like, ‘Oh, here’s our community back again. We’re back with each other again.’ Everyone was very elated and very positive.”



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United Way of Southern Nevada fights for $10 a day child care for America Act

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United Way of Southern Nevada fights for  a day child care for America Act


LAS VEGAS, Nev. (FOX5) – Many believe childcare costs can take a big toll on families, costing thousands of Dollars a year on average in some cases.

But what if you could pay just ten dollars a day?

A California congressman, Nevada state Assemblyman, and the United Way of Southern Nevada unveiled those plans this morning.

The ‘ten dollar a day child care for America Act’ would apply to families earning less than $150,000 annually and boost pay for childcare workers.

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Representative Ro Khanna and Assemblyman Max Carter say the average family says they have run out of options.

“Now, each parent has multiple jobs, grandparents can’t retire anymore, so they’re still working, so we’ve got a void with childcare, and we’ve got children taking care of children,”

Congressman Khanna is appealing to lawmakers across the country to unite to pass the bill.

It needs 100 co-sponsors to get it before Congress.

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