SHWZ - Building Out a Vertical Cannabis Company

2023-06-05 11:24:57 ET

Recreational %Cannabis use is on the rise given further legal clarity, and this firm is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico …. as well a looking to other states where it can develop a differentiated regional leadership position.

Medicine Man Technologies, Inc., operating as %Schwazze (OTCQX: ) announced in a press release today that it has acquired certain assets of Sucellus, LLC, pursuant to which the Company will manage New Mexico non-profit corporation, Everest Apothecary, Inc., including retail dispensaries, cultivation and manufacturing facilities.

This acquisition increases the Schwazze’s retail consumer base and furthers its growth strategy in the New Mexico market. Upon closing, Schwazze's New Mexico operations will include 32 dispensaries, four cultivations, two manufacturing facilities and over 400 employees statewide.

Shares were trading at $1.02 in morning trade.