SHWZ - Schwazze to acquire One Medical Retail Dispensary in Denver from Standing Akimbo

2023-04-18 06:45:32 ET

• Medicine Man Technologies operating as Schwazze ( OTCQX:SHWZ ) to acquire certain assets of Standing Akimbo LLC, for total consideration of $10.54M and will be paid as $1M in cash and $5.54M in company common stock at closing, and $4M in deferred cash payments.
• The deal includes the medical cannabis dispensary located at 3801 Jason Street in Denver, Colorado.
• The move expands the company's retail consumer base and furthers its growth efforts in the Colorado market and marks Schwazze's concerted effort to expand operations in Colorado's $200M+ medical cannabis market.
• As part of the Standing Akimbo acquisition , Schwazze plans to open a Colorado Springs medical dispensary acquired in 2022 under the Standing Akimbo banner.
• The offer is expected to close in the third quarter of 2023 upon receipt of approval from the Colorado Marijuana Enforcement Division and local licensing authorities.

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