Schwazze To Acquire 2 Adult Use Cannabis Dispensaries In Colorado

Schwazze To Acquire 2 Adult Use Cannabis Dispensaries In Colorado

Schwazze, SHWZ SHWZ has signed definitive documents to acquire certain assets of Lightshade Labs LLC. The proposed transaction includes the adult use Lightshade dispensaries located at 503 Havana St. in Aurora, as well as 2215 E. Mississippi Ave. in Denver's Washington Park neighborhood. This acquisition continues Schwazze's expansion in Colorado and upon close will bring the company's total number of Colorado dispensaries to 25.

The consideration for the proposed acquisition is $2.75 million and will be paid as all cash. The acquisition is expected to close in the first quarter of 2023 after Colorado Marijuana Enforcement Division and local licensing approval.

"Schwazze is excited to add to our retail footprint in the greater Denver area, providing two additional retail locations to our existing 23 throughout Colorado. We look forward to extending our exceptional customer service and wide product selection to both new and existing customers in these new locations," stated Collin Lodge, division president of Colorado.

Since April 2020, Schwazze has acquired or announced the planned acquisition of 35 cannabis dispensaries as well as seven cultivation facilities and two manufacturing assets in Colorado and New Mexico. In May 2021, Schwazze announced its BioSciences division and in August 2021 it commenced home delivery services in Colorado.

Photo: Benzinga; Sources: courtesy of Dmytro Tyshchenko and Kevin Ruck via Shutterstock

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Posted In: CannabisNewsPenny StocksMarketsCollin LodgeLightshade Labs LLC


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