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MMAC Sells Select Assets to DionyMed for $19.067 Million

July 24, 2019 (SAN FRANCISCO, CA) – MM Esperanza 2 LLC, doing business as "MMAC," has completed the sale of select assets, including its undeveloped 1.83 acre Los Angeles real estate parcel, to DionyMed Brands (CSE: DYME) (OTCQB: DYMEF). Under terms of the acquisition, DionyMed paid MMAC US$13.067 million in cash and issued US$6 million in DionyMed Series A Multiple Voting Shares.

The transaction allows MMAC to substantially accelerate its retail growth strategy and elevate its already profitable Southern California operations in the retail, cultivation and distribution verticals, returning the company to the capital markets as one of California's most profitable and authentic vertically integrated cannabis enterprises.

"Our refreshed war chest of financial resources will support our focus on expansion into the San Francisco market. In August 2019 we’ll open a 3,800-square-foot Project Cannabis dispensary in the SOMA district of the city, our first in Northern California," explains Cameron Wald, Executive Vice President, Director of Operations of MMAC. "The SOMA dispensary adds to our portfolio of three Los Angeles dispensaries and will further drive market share of our four-time High Times' Cup-winning Triple Seven flower brand and our top-selling Classix flower and vapes retro brand, grown in our best-in-class indoor cultivation facility.”

Hanson Bridgett represented MMAC in this transaction. The Hanson Bridgett team was led by corporate partner Jonathan Storper with assistance from senior counsel Neepa Ranavat.

About Hanson Bridgett LLP

Hanson Bridgett LLP is a full service AmLaw 200 law firm with more than 200 attorneys across California. Creating a diverse workforce by fostering an atmosphere of belonging and intentional support has been a priority at Hanson Bridgett since its founding in 1958. We are dedicated to creating an environment that provides opportunities for people with varied backgrounds, both for attorneys and administrative professionals. We are also committed to the communities where our employees live and work and consider it part of our professional obligation to serve justice by encouraging and supporting pro bono and social impact work.

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