MedMen’s Cannabis Factories

MedMen (MMNFF) has three cultivation and production factories in Florida, Nevada, and New York. A new cultivation and production factory is under construction in California. These factories focus on the commercialization of cannabis as well as research and development of new strains and cultivation techniques.

The above chart shows the MedMen’s factories.

Project Mustang is a 30,000-square-foot cultivation factory and a 15,000-square-foot production factory in northern Nevada. The facility is spread on 4.27 acres of land and includes a high-tech Dutch hybrid greenhouse and SQF 2008–compliant, state-of-the-art production and extraction equipment. Cultivation started in the third quarter of 2018 while product sales began in the fourth quarter.

This is a temporary factory operated to serve the medical marijuana patients through a vertical-integrated license. This temporary facility includes a 1,600-square-foot cultivation factory and an 800-square-foot production factory. The company plans to develop a 45,000-square-foot cultivation and production factory at the same place, using the same model as Project Mustang.

MedMen completed the acquisition of a master license and related assets for this facility from Treadwell Simpson Partnership and affiliates on September 6. The company operates a temporary facility at Eustis, Florida, and is planning to develop a cultivation and production factory based on the Project Mustang model.

This facility is under construction and includes a 30,000-square-foot cultivation factory and a 15,000-square-foot production factory in the first phase of development. The facility is spread across ten acres of land and is to include a high-tech Dutch hybrid greenhouse. The construction of this facility is expected to finish by February 2019.

The Evolve Marijuana ETF (SEED) invests 7.4% of its total portfolio in Cronos Group (CRON), 4.1% in Hexo Group (HEXO), and 6.6% in Aphria (APHA).