Movers and SHAKERS
A New Year, A New Acquisition
Medicine Man Technologies, Inc. is now operating under its new trade name, Schwazze. Schwazze is executing its strategy to become a leading vertically integrated cannabis holding company with a portfolio consisting of top-tier licensed brands spanning cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line. Schwazze leadership includes Colorado cannabis leaders with proven expertise in product and business development as well as top-tier executives from Fortune 500 companies. As a leading platform for vertical integration, Schwazze is strengthening the operational efficiency of the cannabis industry in Colorado and beyond, promoting sustainable growth and increased access to capital, while delivering best-quality service and products to the end consumer. The corporate entity continues to be named Medicine Man Technologies, Inc.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
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Further Expansion into Colorado. Schwazze's management announced the acquisition of Urban Health & Wellness, Inc. which includes an adult use dispensary named Urban Dispensary in the Highlands area of Denver, and a 7,200 square foot cultivation facility. This expands Schwazze further into Colorado with the total number of dispensaries now at 23 and cultivation facilities at 4. Overall, Schwazze now has 33 dispensaries and 7 cultivation facilities in Colorado and New Mexico.
Acquisition Details. The acquisition is for $3.2 million, $1.3 million in cash and $1.9 million in stock, and is expected to close in the second quarter of 2022. The Highlands area of Denver is a high-income neighborhood, with the average income at $105,980 vs the average income of Denver County at $88,779, according to Denver Metro Data. Near the dispensary location Schwazze has purchased, is ...
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.