Medicine Man Technologies, Inc. (the “Company”) makes the following disclosures concerning the appointment of a new Chief Executive Officer and the transition of its former Chief Executive Officer and Executive Chairman to the position of Chairman of the Company's Board of Directors (the “Board”). The Company received notice of the resignation of Justin Dye as the Company's Chief Executive Officer effective May 24, 2023. The Company also received notice of Mr. Dye's resignation as the Executive Chairman of the Board effective May 27, 2023.

Mr. Dye's decision to resign as Executive Chairman of the Board and as the Company's Chief Executive Officer was not the result of any disagreement with the Company over any of its operations, policies or practices. Effective as of May 27, 2023, the Board accepted Mr. Dye's resignation as the Executive Chairman of the Board and appointed Mr. Dye as Chairman of the Board. Mr. Dye will continue to serve as a Class B director of the Board until his successor has been duly elected and qualified, subject to his earlier death, resignation, retirement, disqualification, or removal.