Following the passage of the Cannabis Act in Canada last year, the industry has eagerly anticipated the possibility of further legalization in other nations, specifically eyeing the U.S. market. While recreational marijuana is legal in 10 out of 50 U.S. states, cannabis remains prohibited at the federal level.
MedMen Enterprises Inc. (CSE: MMEN; OTCQX: MMNFF) is taking solid aim at that nationwide restriction and making a clear statement that cannabis usage has been normalized with a new short directed by Spike Jonze.
Titled “The New Normal,” the clip (available below) features a voiceover from Jesse Williams, an actor known for long-running TV series Grey’s Anatomy and 2012 horror film Cabin In The Woods.
The clip specifically references the infamous 1936 propaganda film Reefer Madness and the history of hemp growing in the United States.
MedMen’s new short ad clip provides a strong contrast to a recent ad campaign launched by the Quebec government aimed at preventing youth from using marijuana.
That campaign’s bizarre visuals have drawn frequent comparisons to Reefer Madness, despite recreational marijuana currently being legal in Quebec.
Companies such as MedMen certainly aren’t alone in seeking further global legalization, with Tilray (NASDAQ: TLRY) recently bringing on a variety of former politicians to serve in advisory roles on a new board. In recent weeks, several potential 2020 U.S. Presidential candidates have additionally expressed their support for cannabis legalization.
This new commercial arrives just as MedMen releases updated Q2 2019 financial results, showing a $64.4 million loss. Despite that loss, the company saw a 39% jump in quarter-over-quarter revenue, with sales of $29.9 million listed in the report.
Chief Executive Officer Adam Bierman commented:
Currently operating eight retail stores in California, MedMen has plans to open 16 new locations in the U.S. during 2019, with most of those upcoming retail sites to be located in Florida. At the end of 2018, MedMen also signed an all-stock agreement to acquire PharmaCann.