Medicine Man Technologies, Inc. entered into a definitive agreement to acquire One Medical Retail Dispensary in Denver, Colorado. from Standing Akimbo for $10.5 million.
April 17, 2023
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Medicine Man Technologies, Inc. (OTCPK:SHWZ) entered into a definitive agreement to acquire One Medical Retail Dispensary in Denver, Colorado. from Standing Akimbo for $10.5 million on April 18, 2023. The consideration will be paid as $1 million in cash and US$5.54 million in Company's common stock at closing, and $4 million in deferred cash payments.
The acquisition is expected to close in the third quarter of 2023 upon receipt of approval from the Colorado Marijuana Enforcement Division and local licensing authorities.
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.
Medicine Man Technologies, Inc. entered into a definitive agreement to acquire One Medical Retail Dispensary in Denver, Colorado. from Standing Akimbo for $10.5 million.
MEDICINE MAN TECHNOLOGIES, INC. 
