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.
On April 25, 2022, Schwazze (OTCQX: SHWZ; NEO: SHWZ) announced a live VID Forum Town Hall for investors, scheduled for April 26, 2022, at 11:00 am EST. CEO Justin Dye will present and answer questions from stakeholders. Schwazze is establishing itself as a leading vertically integrated cannabis company in Colorado and New Mexico, with a focus on consumer brand development and operational excellence. The company emphasizes a commitment to community, diversity, and climate-conscious practices. For more details, stakeholders can register for the event.
Schwazze (OTCQX: SHWZ, NEO: SHWZ) announced participation in several upcoming conferences, featuring Justin Dye, Chairman & CEO, and Nancy Huber, CFO. Key events include:
- Cantor Fitzgerald Virtual Cannabis Conference: April 12-14, 2022, with a panel on April 12 at 1:50 PM ET.
- NobleCon 18: April 19-21, 2022, with a presentation on April 21 at 11:00 AM ET.
- VID Forum: April 26, 2022, with a live Town Hall.
- A.G.P. Spring Conference: May 3, 2022.
Schwazze aims to lead in the cannabis industry.
Schwazze (OTCQX: SHWZ, NEO: SHWZ) celebrated the first adult recreational cannabis sale in New Mexico on April 1, 2022 at its R. Greenleaf locations. Two events took place at 12:01 AM in Las Cruces and 7:01 AM in Santa Fe. New Mexico's cannabis market is projected to grow by approximately 300% over the next five years, following the enactment of the Cannabis Regulation Act in 2021. Schwazze aims to leverage this growth as it operates ten dispensaries and four cultivation facilities in the region.
Schwazze (OTCQX: SHWZ, NEO: SHWZ) will host a year-end fourth quarter 2021 conference call and webcast on March 31, 2022, at 4:30 pm ET. Investors can participate by dialing 416 764 8650 or 888-664-6383 for toll-free access, or by listening to the webcast on the Company's website. A replay will be available until April 7, 2022. The call will feature CEO Justin Dye and CFO Nancy Huber, who will answer investor questions submitted in advance or during the call.
Medicine Man Technologies, Inc., trading as Schwazze (OTCQX: SHWZ), has received final approval to list its common shares on the NEO Exchange in Toronto, starting March 23, 2022. This listing aims to enhance visibility and attract more retail and institutional investors. According to CFO Nancy Huber, the listing marks a significant milestone, providing a platform to reach new investor audiences and increase liquidity. Schwazze is focused on expanding its vertically integrated cannabis operations across Colorado and New Mexico.
OTCQX: SHWZ announced its acquisition of Urban Health & Wellness, Inc. for US$3.2 million, comprising $1.3 million in cash and $1.9 million in stock. This strategic move expands Schwazze's presence in Colorado, adding an Urban Dispensary and a 7,200-square-foot indoor cultivation facility, raising its total dispensary count to 23. The deal is anticipated to close in Q2 2022, pending local licensing approval. Since April 2020, Schwazze has made 33 cannabis dispensary acquisitions, enhancing its operational footprint in Colorado and New Mexico.
Schwazze (OTCQX: SHWZ) has successfully acquired Brow 2, LLC, enhancing its indoor cultivation capacity by adding a 37,000 square foot facility in Denver, Colorado, for $6.7 million. This acquisition is a pivotal part of Schwazze's growth strategy, allowing the company to supply its dispensaries with high-quality indoor flower. With this deal, Schwazze continues its aggressive expansion in Colorado, having completed five acquisitions since December 2021, which include a total of 15 cannabis dispensaries and six cultivation facilities.
Schwazze (OTCQX: SHWZ) has appointed Steve Pear as President of its New Mexico Division, alongside key leaders Alex Falter-Hahn and Jacob White, to bolster its expansion in the state's cannabis market. Pear, previously CEO of Happy Gut Brands, brings extensive experience from Coca-Cola and Odwalla. Falter-Hahn served as CFO at RGA, while White has a strong background in New Mexico's medical cannabis sector. The move coincides with the state's transition to recreational cannabis sales starting April 1, 2022, with expectations of market growth of approximately 300% over the next five years.
Schwazze (OTCQX: SHWZ) has completed the acquisition of operating assets from Reynold Greenleaf & Associates and Elemental Kitchen & Laboratories for a total of $42 million. The deal includes $25 million in cash and a $17 million seller note at 5% interest. With this acquisition, Schwazze expands its operations into New Mexico, becoming a multi-state operator with a total of 32 dispensaries and multiple cultivation facilities. The New Mexico cannabis market is projected to grow by 300% in the next five years, enhancing Schwazze's growth potential.
Schwazze (OTCQX: SHWZ) has announced key leadership additions to support its expansion in manufacturing, cultivation, and information technology. David Kaufman joins as Vice President of Manufacturing and Supply Chain, bringing extensive experience and a proven track record in operational improvements. Steven Liedtke, as Vice President of Information Services, will enhance Schwazze's digital transformation initiatives. Robert Piziali becomes Vice President of Cultivation with two decades of operational management in the cannabis and wine industries. These appointments aim to strengthen Schwazze's growth strategy.