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Medicine Man Technologies Rebrands As Schwazze, Closes 2 Acquisitions

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Medicine Man Technologies Rebrands As Schwazze, Closes 2 Acquisitions

Medicine Man Technologies (OTC: MDCL) celebrated 4/20 with the announcement of its new corporate brand and two acquisitions.

The company, now known as Schwazze, has acquired dispensary brand Mesa Organics and extraction giant Purplebee’s.

Schwazze is the first public company to close an acquisition under Colorado's new House Bill 19-1090 — a bill the leadership team had lobbied on behalf of for years.

This is the first step in the company’s plan to build a house of brands under the Schwazze name, as it continues to close a series of pending acquisitions. Upon completion of the acquisitions, Schwazze expects to become the sixth-largest vertically integrated cannabis operator in the U.S. by revenue, with positive EBITDA.

“This is really about the next era of cannabis focusing on purpose, innovation and business performance," said CEO Justin Dye. "We see a bright future for the industry to harness the power of cannabis and to change lives."

Schwazze's goal is to create and offer products and therapies that are alternatives to opioids, alcohol, tobacco and other medical treatments, Dye explained.

"However, to harness the full potential of cannabis, we need a robust cannabis ecosystem," he added. "To be successful, we must combine purpose and opportunity with performance focused on operational execution, efficiency, and disciplined capital investment.”

 

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