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Schwazze Signs Definitive Agreement to Acquire Colorado Cultivation Grower Brow 2, LLC
Schwazze Signs Definitive Agreement to Acquire Colorado Cultivation Grower Brow 2, LLC.
About this update from Medicine Man Technologies Inc.
[{"type":"text","content":"\n\n\n\nSchwazze Signs Definitive Agreement to Acquire Colorado Cultivation Grower Brow 2, LLC\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nSchwazze Signs Definitive Agreement to Acquire Colorado Cultivation Grower Brow 2, LLC\nCanada NewsWire\nDENVER, Aug. 23, 2021\n\n\n\nIndoor Grow Acquisition to Increase Cultivation Capacity \nOTCQX: SHWZ\n DENVER, Aug. 23, 2021 /CNW/ - Schwazze, (OTCQX: SHWZ) (\"Schwazze\" or the \"Company\"), has entered into an to agreement to acquire the assets of Brow 2, LLC, located in Denver, Colorado.  The planned transaction includes a 37,000 square foot building (27,000 square feet of canopy) for indoor cultivation and equipment. This transaction continues Schwazze's aggressive expansion in Colorado and will significantly enhance the Company's cultivation resources, providing product directly to its seventeen Star Buds brand dispensaries.  \n\n \n \n \n \n \n \n\n \nThe consideration for the planned acquisition is $6.7 million and will be paid in cash at closing. The acquisition is expected to close in the third quarter of 2021 after the Colorado Marijuana Enforcement Division and local licensing approval.\n\"We are looking forward to adding the Brow team to the growing Schwazze family. This acquisition will add a talented team of growers, high-quality indoor flower cultivation capacity, new strain genetics, and another profitable asset to our platform. The new facility will supply our growing network of dispensaries and customers with a broad assortment of high-quality indoor flower,\" said Justin Dye, Schwazze's CEO.  \nAbout Schwazze\nSchwazze (OTCQX: SHWZ) is the parent company of a portfolio of vertically integrated cannabis brands spanning seed to sale. The company's intent is to apply its operational playbook by expanding into markets where it can entrench itself in a leadership position. Anchored by a high-performance culture, Schwazze focuses on growth by purposeful design, combining customer-centric thinking and data science to test, measure, and driv...