Medicine Man Technologies, Inc. Announces Executive Changes
December 17, 2021 at 05:07 pm EST
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On December 13, 2021, Medicine Man Technologies, Inc. received written notice of the resignation of Pratap Mukharji as a member of the Companys board of directors. Mr. Mukharji was Chairman of the board of directors Audit Committee and Nominating and Governance Committee. Mr. Mukharjis resignation is not the result of any disagreement with the Company on any matters relating to the Companys operations, policies, or practices. On December 13, 2021, the Companys board of directors appointed Nirup Krishnamurthy, the Companys Chief Operating Officer, as a Class B director to fill the vacancy left by Mr. Mukharji and Jonathan Berger as a Class A director to fill an existing vacancy. The Company expects that its board of directors will appoint Mr. Berger to the board of directors Audit Committee. Mr. Krishnamurthy will serve until his term expires at the Companys 2023 annual meeting of stockholders and until a successor is elected and qualified, or until his earlier death, resignation or removal. Mr. Berger will serve until his term expires at the Companys 2022 annual meeting of stockholders and until a successor is elected and qualified, or until his earlier death, resignation or removal.
Medicine Man Technologies, Inc., operating as Schwazze, is a vertically integrated multi-state cannabis operator. The Companyâs business involves the cultivation, manufacturing, distribution and retail sale of cannabis and cannabis-related products. The Company sells products it manufactures and cultivates and a variety of other cannabis goods through wholly owned retail stores, licensing arrangements, and/or third-party operators and retailers. It has three segments: Retail, Wholesale and Other. The Retail segment consists of retail locations for the sale of cannabis products. The Wholesale segment consists of manufacturing, cultivation and sale of both wholesale cannabis and non-cannabis products. The Other segment encompasses the Companyâs general corporate operations, in-store advertisements and certain vendor promotions. It has operations in Colorado and New Mexico. The Company owns and operates 63 retail dispensaries, six cultivation facilities and three manufacturing facilities.