Medicine Man Technologies, Inc. acquired Two Colorado Retail Dispensaries from Smokey's Cannabis Company for $6.2 million effective on August 9, 2023. Under the terms of the deal, $ 3.75 million was paid in cash. Total shares issued at closing equaled 2,884,615 shares of Medicine Man common stock.

The stock consideration is subject to post-closing reduction if any of the actual cannabis product inventory or cash at closing is less than certain targets stated in the Smokey?s Purchase Agreement.