DENVER – Schwazze, (OTCQX: SHWZ) (“Schwazze” or the “Company”), announced that it has closed the acquisition of the assets of Smoking Gun, LLC and Smoking Gun Land Company, LLC (“Smoking Gun”). Total consideration for the acquisition was $4 million in cash and 100,000 shares of Schwazze common stock upon closing.
The Smoking Gun dispensary and assets are located on a prime retail corner on Colorado Blvd. in Glendale, Colorado in the center of the greater Denver metro area. This acquisition is part of the Company’s continuing retail expansion plan in Colorado, and including the recently announced planned acquisitions in New Mexico (December 3, 2021), brings the total number of dispensaries to 32.
Since April 2020, Schwazze acquired or announced the planned acquisition of 32 cannabis dispensaries, including the ten R. Greenleaf New Mexico dispensaries. In 2021, the Company also acquired or announced the planned acquisition of seven cultivation facilities, three in Colorado – SCG Holding LLC, Brow 2 LLC and Star Buds – and four licensed in New Mexico. The New Mexico acquisition will also add a manufacturing asset, Elemental Kitchen & Laboratories, LLC, to the Company’s manufacturing plant, Purplebee’s in Colorado. In May 2021, Schwazze announced its BioSciences division and in August 2021 it commenced home delivery services in Colorado.
Schwazze (OTCQX: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high- performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices. Medicine Man Technologies, Inc. was Schwazze’s former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc. Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.