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Medicine Man Technologies, Inc., operating as Schwazze, reports developments tied to its vertically integrated regional cannabis business in Colorado and New Mexico. The company operates a portfolio of cannabis businesses and brands spanning seed-to-sale activities, including retail dispensaries under banners such as R. Greenleaf and Everest.
Recurring updates include financial and operating results, retail expansion, store-base optimization, pricing and assortment initiatives, debt restructuring agreements, and cannabis market conditions in its core states. Schwazze news also covers public-company reporting matters, including delayed periodic filings, auditor-related reviews, restatement activity, capital-structure disclosures, and governance updates.
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.
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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.