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 launched a cannabis delivery service in Aurora, Colorado, starting from its Star Buds Montview location. The service allows residents to order cannabis products online for home delivery, expanding access to high-quality cannabis.
This marks the first phase of a broader home delivery initiative, with plans for a second phase later this year, which will include deliveries from another location in Aurora. The COO expressed excitement about enhancing accessibility to cannabis products for local customers.
Schwazze (OTCQX: SHWZ) reported strong financial results for Q2 2021, with revenues surging 467% to $30.7 million compared to $5.4 million in Q2 2020. Adjusted EBITDA reached $10.0 million, representing 32.6% of revenue. The company remains on track to meet its annual revenue guidance of $110 million to $125 million. Highlights include the acquisition of Southern Colorado Growers and Drift Dispensaries, expanding its footprint in Colorado. The company also reported a net income of $4.4 million compared to a net loss of $6.6 million in the same quarter last year.
Schwazze (OTCQX: SHWZ) has announced a second quarter 2021 conference call and webcast set for August 16, 2021 at 4:30 p.m. ET. Interested parties can join by dialing 416 764 8650 or toll-free 888-664-6383, or listen online at Schwazze's website. The webcast will remain available for replay until August 30, 2021. CEO Justin Dye and CFO Nancy Huber will answer questions post-presentation. Schwazze aims to be a leading cannabis company in Colorado, focusing on community and sustainability.
OTCQX: SHWZ
Schwazze has successfully acquired Southern Colorado Growers for a total consideration of $11.3 million. The deal includes 34 acres of land and significant cultivation facilities, marking Schwazze's entry into cultivation. This acquisition is expected to enhance the supply of premium cannabis to its Star Buds dispensaries and biomass production for its PurpleBee's extraction operations. The company plans to expand SCG's cultivation capacity over the next year, potentially impacting its margins positively.
Schwazze (OTCQX: SHWZ) has announced a definitive agreement to acquire Southern Colorado Growers (SCG) for a total consideration of $11.3 million. This includes $6.8 million for business assets and $4.5 million for real estate. The acquisition aims to enhance Schwazze's vertical integration and cultivation capabilities, enabling direct supply of high-quality cannabis to its Star Buds dispensaries. It also seeks to significantly boost biomass production for its PurpleBee's extraction facility. The deal is anticipated to close in Q3 2021, pending regulatory approvals.
Schwazze (OTCQX:SHWZ) reported impressive financial results for Q1 2021, with revenues soaring to $19.3 million, a 504% increase from the previous year’s $3.2 million. The company completed its acquisition of Star Buds, contributing to proforma revenue projections of $26.8 million. Adjusted EBITDA was $5.8 million, with positive operating cash flow of $1.7 million. The gross profit reached $7.3 million, with a gross margin of 37.5%. The company updated its 2021 revenue guidance to between $110 million and $125 million.
Schwazze (OTCQX:SHWZ) has launched a new research and development subsidiary, Schwazze Biosciences Ltd, dedicated to advancing cannabis research for consumers and pets. COO Nirup Krishnamurthy leads the venture with a strong management team that includes Jeff Garwood as Chairman and Jim Parco as President. The initiative aims to enhance understanding and benefits of the cannabis plant while promoting sustainable practices. Schwazze's portfolio includes various cannabis brands and businesses, building a vertically integrated operation in Colorado.
Schwazze (OTCQX: SHWZ) announces its first quarter 2021 conference call on May 13, 2021, at 4:30 p.m. ET. Investors can call (201) 389-0879 or listen via the company website. Preliminary revenue for Q1 2021 reached $19.3 million, a 503% increase from $3.2 million in Q1 2020, boosted by acquisitions of Mesa Organics and Star Buds. Future growth looks promising despite external challenges. Schwazze will attend virtual investor conferences in May 2021, including the Alliance Global Partners Cannabis Conference on May 4.
Schwazze (OTCQX: SHWZ) has announced its financial results for Q4 and the full year ended December 31, 2020. The company reported Q4 revenue of $7.9 million, a 139% increase year-over-year, while total annual revenue reached $24 million, marking a 94% rise. Despite these gains, Schwazze reported a net loss of $19.4 million for the year. The company has set a revenue target of $105-$125 million for 2021 and aims to double its proforma revenue through acquisitions and internal growth. The integration of the Star Buds acquisition is expected to enhance operational synergies.
Schwazze, known as Medicine Man Technologies Inc. (OTCQX: SHWZ), will host its fourth quarter 2020 conference call on March 30, 2021, at 4:30 p.m. ET. Investors can join by calling 201-389-0879 or via a webcast on the Company's 'Investors' website, where an archive will be available post-event. Following remarks from CEO Justin Dye and CFO Nancy Huber, they will address investor questions submitted in advance or during the call. As a vertically integrated cannabis company in Colorado, Schwazze focuses on customer-centric strategies and data-driven decision-making.