SCHWAZZE CLOSES ACQUISITION OF THE ASSETS OF SMOKING GUN, LLC AND SMOKING GUN LAND COMPANY, LLC
Acquisition strengthens Schwazze Colorado business footprint
DENVER, December 21, 2021 / PRNewswire / – Schwazze, (OTCQX: SHWZ) (“Schwazze” or the “Society”), announced that it has completed the acquisition of the assets of Smoking Gun, LLC and Smoking Gun Land Company, LLC (“Smoking gun”). The total consideration for the acquisition was $ 4 million in cash and 100,000 Schwazze ordinary shares at closing.
The Smoking Gun dispensary and assets are located in a prime shopping area on Colorado Blvd. in Glendale, Colorado in the center of the largest Denver subway station. This acquisition is part of the Company’s continued retail expansion plan in Colorado, and includes planned acquisitions recently announced in New Mexico (December 3, 2021), brings the total number of dispensaries to 32.
Because april 2020, Schwazze has acquired or announced the planned acquisition of 32 cannabis dispensaries, including the ten R. Greenleaf dispensaries in New Mexico. In 2021, the Company also acquired or announced the planned acquisition of seven grow facilities, three in Colorado – SCG Holding LLC, Brow 2 LLC and Star Buds – and four under license in New Mexico. the New Mexico The acquisition will also add a manufacturing asset, Elemental Kitchen & Laboratories, LLC, to the company’s manufacturing facility, Purplebee’s in Colorado. In May 2021, Schwazze announced its BioSciences division and in August 2021 she started home delivery services in Colorado.
Schwazze (OTCQX: SHWZ) is building a leading, vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to expand its operating system to other states where it can develop a position of differentiated regional leadership. Schwazze is the parent company of a portfolio of leading cannabis companies and brands from seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is rooted in a high performance culture that combines customer-centric thinking and data science to test, measure and drive decisions and results. The company’s management team has extensive retail, wholesale and consumer branding expertise in Fortune 500 companies as well as the cannabis industry. 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 the old trade name for Schwazze. The corporate entity continues to be called Medicine Man Technologies, Inc. Schwazze takes its name from the technique of pruning a cannabis plant to improve the structure of the plant and promote healthy growth.
This press release contains “forward-looking statements”. These statements may be preceded by the words âplanâ, âwillâ, âmayâ, âcontinueâ, âanticipateâ or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the Company and cannot be predicted or quantified. Therefore, actual events and results may differ materially from those expressed or implied by these forward-looking statements. These risks and uncertainties include, without limitation, the risks and uncertainties associated with (i) our inability to manufacture our product and product candidates on a commercial scale by ourselves or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competitors; (iv) the loss of one or more key executives or scientists; (v) difficulties in obtaining regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and out of State, (vii) our ability to complete the acquisition described in this press release or to identify and complete future acquisitions that meet to our criteria, (viii) our ability to successfully integrate the acquired businesses, including the acquisition described in this press release, and derive synergies from them, (ix) the ongoing COVID-19 pandemic, (x) the timing and extent of government stimulus programs; and (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws. More detailed information about the company and the risk factors that may affect the realization of forward-looking statements are presented in the documents filed by the company with the Securities and Exchange Commission (SEC), including the annual report of the company on the form 10-K and its Quarterly Report Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise, except as required by law.
For more information: Investors, Joanne jobin, Investor Relations, [email protected], 647 964 0292; Media, Julie suntrup, Schwazze, vice-president | Marketing & Merchandising, [email protected], 303 371 0387