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) has successfully completed the acquisition of BG3 Investments, LLC, which operates two cannabis dispensaries in Boulder, Colorado. The acquisition aligns with Schwazze's strategy to expand its presence in Colorado's cannabis market, increasing its total dispensary count to twenty. The deal was valued at $3.5 million, comprised of $1.9 million in cash and $1.6 million in common stock. Schwazze continues to focus on enhancing customer experiences and expanding its operational footprint across the region.
Schwazze (OTCQX: SHWZ) has successfully closed the acquisition of assets from Smoking Gun, LLC for a total of $4 million in cash and 100,000 shares of common stock. This strategic move enhances Schwazze's retail footprint in Colorado, bringing the total number of dispensaries to 32 following recent expansions in New Mexico. The acquisition includes a prime location in Glendale, Colorado, which is central to the greater Denver area. Schwazze continues to pursue growth through acquisitions in the cannabis sector, focusing on increased market share and operational synergies.
Schwazze (OTCQX: SHWZ) has secured a $95 million financing agreement to support its acquisition of cannabis assets in New Mexico. This funding, through convertible notes, includes $42 million for acquiring Reynold Greenleaf & Associates and its related cannabis licenses. The company aims to expand its operations, achieving a target to double pro-forma revenue by Q1 2022. With this move, Schwazze transitions into a multi-state operator, adding significant assets across Colorado and New Mexico.
Schwazze (OTCQX: SHWZ) is expanding its retail footprint in Colorado by acquiring MCG, LLC, which operates Emerald Fields dispensaries in Manitou Springs and Glendale. The transaction, valued at $29 million, involves 60% cash and 40% common stock, and is expected to close within 75 days, pending necessary approvals. This acquisition will increase Schwazze's dispensary count to 22. CEO Justin Dye expressed enthusiasm about integrating Emerald Fields into Schwazze's portfolio, enhancing its presence in the market.
Schwazze (OTCQX:SHWZ) reported a remarkable 328.4% revenue increase to $31.8 million for Q3 2021, up from $7.4 million in Q3 2020. Adjusted EBITDA reached $8.8 million, equating to 27.6% of revenue. The company expects annual revenue guidance of approximately $110 million to $115 million and adjusted EBITDA of $32 million to $34 million. Additionally, the acquisitions of Southern Colorado Growers and Brow 2 are set to enhance cultivation capacities, while the launch of home delivery services marks a significant retail expansion.
Schwazze (OTCQX: SHWZ) has signed a definitive agreement to acquire the assets of Smoking Gun, LLC and Smoking Gun Land Company, LLC for $4 million in cash and 100,000 shares of common stock. This strategic acquisition aims to enhance Schwazze's retail footprint, bringing its total dispensaries to 20 in Colorado. Located in Glendale, the Smoking Gun dispensary is positioned in a prime retail area in the Denver metro region. The closing is expected in Q4 2021, pending regulatory approvals.
Summary not available.
Schwazze (OTCQX: SHWZ) will host its Q3 2021 conference call and webcast on August 16, 2021, at 4:30 p.m. ET. Investors can join by calling 416-764-8650 or toll-free 888-664-6383, or via the webcast. The replay will be available until November 22, 2021. CEO Justin Dye and CFO Nancy Huber will address questions post-remarks. Schwazze aims to enhance its leadership in the cannabis sector, focusing on innovation and community impact.
Schwazze (OTCQX: SHWZ) announces participation in two key cannabis conferences: the Benzinga Cannabis Capital Conference on October 14-15 in New York City and MJBizCon 2021 on October 20-22 in Las Vegas. CEO Justin Dye and CFO Nancy Huber will host investor meetings at both events. Additionally, an 'Ask Me Anything' session is scheduled for October 21 on Reddit. Schwazze aims to enhance investor engagement with new social media initiatives and will present company insights at these prominent industry gatherings.
Schwazze (OTCQX: SHWZ) has signed a definitive agreement to acquire the assets of Brow 2, LLC for $6.7 million. The acquisition targets a 37,000 square foot facility with 27,000 square feet of canopy for indoor cultivation in Denver, Colorado. This move is part of Schwazze's expansion strategy and aims to enhance its cultivation capacity, subsequently supplying its seventeen Star Buds dispensaries with high-quality indoor flower. The acquisition is expected to close in Q3 2021, pending necessary approvals.