Schwazze Announces Grand Opening of its 35th New Mexico Dispensary in Bernalillo
Medicine Man Technologies, operating as Schwazze (OTCQX: SHWZ), has announced the grand opening of its 35th dispensary in New Mexico.
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Rhea-AI Summary
Medicine Man Technologies, operating as Schwazze (OTCQX: SHWZ), has announced the grand opening of its 35th dispensary in New Mexico. The new store is located at 242 US-550, Bernalillo, NM, and will operate from 8:00 a.m. to 11:00 p.m. Monday through Saturday and 8:00 a.m. to 9:00 p.m. on Sundays. Schwazze's Senior VP of New Mexico Retail, Ken Bair, expressed excitement about expanding the company's presence. The grand opening includes a ribbon-cutting ceremony by the New Mexico Cannabis Chamber of Commerce and events with local vendors. The Bernalillo location is part of Schwazze's strategy to grow its retail footprint, now totaling 35 dispensaries in the state under the R. Greenleaf and Everest brands.
Positive
- Grand opening of the 35th New Mexico dispensary enhances Schwazze's market presence.
- Strategic location in Bernalillo, NM, offers potential for high customer traffic.
- Senior VP Ken Bair highlights commitment to high-quality products and exceptional service.
- Grand opening with community events and vendor partnerships increases brand visibility.
- Store operates for extended hours, catering to both medical and recreational customers.
- Total of 35 dispensaries under R. Greenleaf and Everest brands reflects strong market penetration.
Negative
- No financial data provided to assess immediate impact on revenues or profitability.
- Potential risk of market saturation with 35 dispensaries in New Mexico.
- High operational costs from maintaining extended hours could affect margins.
- Dependence on local market conditions in New Mexico could pose geographic risk.
Details
News Market Reaction – SHWZ
The recorded move for SHWZ in the trading session of this news was +4.44%.
Data tracked by StockTitan Argus. Session date unavailable.
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DENVER, June 07, 2024 (GLOBE NEWSWIRE) -- Medicine Man Technologies, Inc., operating as Schwazze, (OTCQX: SHWZ) (Cboe CA: SHWZ) ("Schwazze" or the "Company"), today announced the grand opening of its 35th New Mexico dispensary, R. Greenleaf Bernalillo. The store is located at 242 US-550, Bernalillo, NM 87004, and operates from 8:00 a.m. to 11:00 p.m. Monday through Saturday and 8:00 a.m. to 9:00 p.m. on Sundays.
Senior Vice President of New Mexico Retail, Ken Bair, said, "We are thrilled to expand our presence in New Mexico with the addition of our Bernalillo dispensary, marking our 35th retail store in the state. We look forward to delivering on our brand promise of offering a wide assortment of high-quality products with exceptional customer service as we serve both the patients and customers of Bernalillo.”
Grand opening celebrations will begin today with a ribbon-cutting ceremony by the New Mexico Cannabis Chamber of Commerce at 4:20 p.m. with Hustle Radio on-site from 3:00 p.m. to 6:00 p.m. Schwazze will also host a Quarter Horse BBQ food truck tomorrow, June 8th, at 11:00 a.m., along with various pop ups from partner vendors throughout both days.
The addition of R. Greenleaf Bernalillo brings Schwazze’s total number of New Mexico retail dispensaries to 35 stores across the state under both the R. Greenleaf and Everest retail banners. All locations service both medical and recreational adult-use patients and consumers.
About Schwazze
Schwazze (OTCQX: SHWZ) (Cboe CA: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to explore taking its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale.
Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company's leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector.
Medicine Man Technologies, Inc. was Schwazze's former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc. Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth. To learn more about Schwazze, visit https://schwazze.com/.
Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
ir@schwazze.com
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