Welcome to our dedicated page for Medicine Man news (Ticker: SHWZ), a resource for investors and traders seeking the latest updates and insights on Medicine Man stock.
Medicine Man Technologies, Inc., operating as Schwazze (SHWZ), regularly issues news and updates about its activities as a vertically integrated regional cannabis company with assets in Colorado and New Mexico. This news page aggregates company press releases and third-party coverage related to Schwazze’s operations, financial performance, capital structure, and regulatory developments.
Readers can expect updates on Schwazze’s retail and wholesale operations in Colorado and New Mexico, including announcements of new dispensary openings under banners such as R. Greenleaf and Everest Apothecary, changes to its retail footprint, and commentary on customer experience, pricing, promotions, and product assortment. The company also reports on wholesale penetration and catalog developments in both states.
Schwazze’s news flow frequently includes financial results for specific quarters, with management commentary on revenue trends, gross profit, operating expenses, and adjusted EBITDA, as well as discussions of market conditions in Colorado and New Mexico. The company also provides notices of upcoming conference calls to discuss its results, along with details on how investors and other interested parties can listen to these calls.
Another important category of news involves capital structure and restructuring. Schwazze has issued releases on restructuring certain debt obligations, extending maturities, and adjusting payment terms. It has also announced a Restructuring Support Agreement with an affiliate of Vireo Growth Inc. and other parties, which contemplates an asset sale of a majority of its assets to a new entity and the liquidation and winding down of remaining operations, subject to regulatory approvals and closing conditions.
In addition, Schwazze publishes updates on its SEC reporting status and audit matters, including the transition from its former auditor to Baker Tilly US, LLP, the need to restate certain prior financial statements, and the impact of an SEC Order involving its former auditor. The company has also reported that its common stock will transition to the OTC Expert Market due to delayed filings and has described steps it is taking to become current in its reporting obligations.
Investors and observers can use this news page to follow Schwazze’s disclosures about its cannabis operations in Colorado and New Mexico, its financial and operational performance, and its ongoing restructuring and reporting processes.
Schwazze (OTCQX: SHWZ; NEO: SHWZ) announced on March 24, 2023, the appointment of Bradley Stewart to its Board of Directors, succeeding Sal Wahdan, who resigned. Stewart brings extensive experience in building technology and services companies, including roles as CEO at Fair Technologies and Chairman at XOJet. His expertise in strategic transformation and M&A is expected to enhance Schwazze's leadership as it aims to expand its cannabis business in Colorado and New Mexico. CEO Justin Dye expressed confidence in Stewart's contributions to the Board, thanking Wahdan for his service.
Schwazze (OTCQX: SHWZ; NEO: SHWZ) has appointed Bradley Stewart to its Board of Directors, following the resignation of Sal Wahdan. Stewart brings extensive experience in strategic transformation, balance sheet restructuring, and M&A from his prior roles as CEO and board member across various firms, including his previous position at Fair Technologies and leadership at XOJet. Justin Dye, CEO of Schwazze, expressed optimism about Stewart's contributions to the Board. Schwazze aims to strengthen its presence in the cannabis industry, leveraging technology and services in its operations across Colorado and New Mexico.
Schwazze (OTCQX: SHWZ, NEO: SHWZ) will host its fourth quarter earnings webcast on March 29, 2023, at 5:00 pm ET. Investors can participate via phone or listen online through the company's website. A replay will be available until April 5, 2023. Schwazze is focused on becoming a leading vertically integrated cannabis company in Colorado and New Mexico, with plans to expand further. The company emphasizes a strong operational culture aimed at enhancing consumer brands and community impact. Schwazze was formerly known as Medicine Man Technologies, Inc.
Schwazze (OTCQX: SHWZ) announced the grand opening of its R.Greenleaf dispensary in Carlsbad, New Mexico, scheduled for March 25, 2023. This opening marks the 18th retail location in New Mexico since Schwazze's acquisition of the brand in February 2022, contributing to a total of seven store openings in the state. The Carlsbad store will cater to both medical and recreational consumers, offering special introductory prices and promotional events. Customers can enroll in the Gratify Rewards program, applicable across all Schwazze locations. The event includes free barbecue for the first 50 customers and a chance to win a PuffCo Proxy.
Schwazze (NEO: SHWZ, OTCQX: SHWZ) has launched a new ecommerce site for its New Mexico retail banner, R.Greenleaf, enhancing customer experience by enabling online ordering for in-store pickup. The platform allows customers to manage previous orders and join the Gratify loyalty program. Since Schwazze's acquisition, R.Greenleaf has expanded from 10 to 17 locations, catering to both medical and recreational consumers. Schwazze has made significant growth moves, acquiring 44 cannabis dispensaries and other assets across Colorado and New Mexico since April 2020. The company aims to improve its market position and customer engagement while expanding its operations.
Schwazze (NEO: SHWZ) has announced the acquisition of Smokey's dispensaries in Fort Collins and Garden City, Colorado, for US$7.5 million, split into $3.75 million cash and $3.75 million stock. This acquisition will expand Schwazze's footprint to 27 dispensaries in Colorado, enhancing its market presence in limited-license areas. The deal is set to close by Q2 2023, pending regulatory approvals. President Nirup Krishnamurthy expressed optimism about serving new customers and deepening operations in northern Colorado. Since April 2020, Schwazze has acquired or opened a total of 44 dispensaries across Colorado and New Mexico.
Schwazze (OTCQX: SHWZ, NEO: SHWZ) announced the grand opening of its R.Greenleaf Paseo dispensary in Albuquerque, New Mexico on February 18, 2023. This event marks Schwazze's ongoing expansion in New Mexico, bringing the total number of R.Greenleaf locations to 17 since acquiring the retail banner in February 2022. The new store will cater to both medical and recreational cannabis consumers, with operating hours from 9 a.m. to 10 p.m. Monday to Saturday, and 9 a.m. to 8 p.m. on Sundays. Promotional activities include introductory pricing and a chance for customers to win season passes for New Mexico United. This follows Schwazze's acquisition binge, totaling 44 dispensaries and multiple facilities since April 2020.
Schwazze (OTCQX: SHWZ) has appointed Christine Jones as the new Chief Legal Officer as part of its expansion in Colorado and New Mexico. Jones, with over 25 years of corporate legal experience, replaces Dan Pabon, who transitioned to Chief Policy and Regulatory Affairs Officer. Her previous role was with Long Play, a cannabis company where she managed various legal affairs. Since April 2020, Schwazze has significantly expanded, acquiring or planning to acquire 43 retail dispensaries and multiple cultivation facilities. The company aims to enhance its regional leadership in cannabis and is committed to responsible practices.
On January 19, 2023, Schwazze (OTCQX: SHWZ) announced the appointment of Forrest Hoffmaster as the new Chief Financial Officer, succeeding Nancy Huber. Hoffmaster brings over 30 years of financial and operational experience, previously serving as CEO of New Seasons Market, where he grew EBITDA by 30% over two years. His role at Schwazze will encompass finance functions like accounting, tax, and investor relations, along with data analytics. Since April 2020, Schwazze has rapidly expanded, acquiring 41 dispensaries and developing a strong presence in Colorado and New Mexico.
On January 11, 2023, Schwazze (OTCQX: SHWZ, NEO: SHWZ) announced significant changes to its executive leadership team as part of its growth strategy in Colorado and New Mexico. Todd Williams, with extensive M&A experience, becomes EVP of M&A and Real Estate. Steve Pear transitions to President of Wholesale Division, while Ken Diehl takes over as President of New Mexico Division. Schwazze has made 41 acquisitions since April 2020, enhancing its retail footprint and positioning for further growth.
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