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MedMen Enterprises Inc. (OTCQB: MMNFF) announced on October 3rd the company has entered into a definitive agreement to acquire Seven Point, a Chicago-based medical cannabis dispensary. MedMen has agreed to pay Seven Point a combination of cash, deferred shares of MedMen, and cash upon closing of the transaction.

Seven Point is located among popular retailers in a shopping district in Oak Park, Illinois.

The completion of the acquisition of Seven Point by MedMen is expected to occur within the next 90 days and is still subject to closing conditions and approval by the state.