Business
SCHWAZZE SIGNS DEFINITIVE DOCUMENTS TO ACQUIRE TWO RETAIL DISPENSARIES FROM SMOKEY'S CANNABIS COMPANY
SCHWAZZE SIGNS DEFINITIVE DOCUMENTS TO ACQUIRE TWO RETAIL DISPENSARIES FROM SMOKEY'S CANNABIS COMPANY.
About this update from Medicine Man Technologies Inc.
[{"type":"text","content":"\n\n\n\nSCHWAZZE SIGNS DEFINITIVE DOCUMENTS TO ACQUIRE TWO RETAIL DISPENSARIES FROM SMOKEY'S CANNABIS COMPANY\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.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nSCHWAZZE SIGNS DEFINITIVE DOCUMENTS TO ACQUIRE TWO RETAIL DISPENSARIES FROM SMOKEY'S CANNABIS COMPANY\nPR Newswire\nDENVER, Feb. 21, 2023\n\n\n\nNEO: SHWZOTCQX: SHWZ\nStar Buds Retailer Now Enters the Fort Collins and Garden City Markets in Colorado\nDENVER, Feb. 21, 2023 /PRNewswire/ - Schwazze, (NEO: SHWZ) (OTCQX: SHWZ) (\"Schwazze\" or the \"Company\"), announced that it has signed definitive documents to acquire certain assets of Cannabis Care Wellness Centers, LLC and Green Medicals Wellness Center #5, LLC (d/b/a \"Smokey's\").  The proposed transaction includes the adult use Smokey's dispensaries located at 2515 7th Avenue in Garden City as well as 5740 S. College Ave. in Fort Collins. These two vibrant cannabis markets have limited licenses and present Schwazze with more opportunities to serve customers in northern Colorado. This acquisition continues Schwazze's deliberate expansion in Colorado and, upon close, will bring the Company's total number of Colorado dispensaries to 27.\n\n \n \n \n \n \n \n\n \nThe consideration for the proposed acquisition is US$7.5 million and will be paid as $3.75M cash and $3.75M stock at closing. The acquisition is expected to close in the second quarter of 2023 after Colorado Marijuana Enforcement Division and local licensing approvals.\n\"We are excited to bring our Star Buds operations to Garden City and Fort Collins. Bringing our operating playbook to two key cities in northern Colorado allows us to deliver our brands, product assortment and our dedicated service to customers in new neighborhoods as we continue to go deep in the state,\" said Nirup Krishnamurthy, President of Schwazze.    \nSince April 2020, Schwazze has acquired, announced the planned acquisition of, or opened 44 cannabis dispensaries as well as seven cultivation facilities and two manufacturing assets...