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Schwazze (OTCMKTS: SHWZ) is on a buying spree.
The Denver-based company, formerly known as Medicine Man Technologies Inc., recently took over 14 Star Buds locations in Colorado. Schwazze CEO Justin Dye gave us a heads up that the deal was in the works during a fireside chat at Benzinga. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to:
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Schwazze, formerly operating as Medicine Man Technologies Inc. (OTCQX: SHWZ) (“Schwazze ” or “the Company”), today announced that it has closed on the asset purchase of an additional two Star Buds Colorado dispensaries located in Denver, CO.
This follows the successful acquisition and integration of six Star Buds retail locations in Colorado in December 2020. The Company plans to acquire the remaining five Star Buds in Colorado by the end of March, for a total of 13.
Total consideration for this most recent acquisition was approximately $9.3 million, consisting of $3.5 million in cash, $3.5 million in sellers’s notes, and $2.3 million in Preferred Stock (at a price of $1,000 per share).
Press release content from Business Wire. The AP news staff was not involved in its creation.
Colorado-based Cannabis Collective, Schwazze, Announces Changes to Board of Directors
January 28, 2021 GMT
DENVER (BUSINESS WIRE) Jan 28, 2021
Focused on building the premier vertically integrated cannabis company in Colorado, Schwazze (formerly operating as Medicine Man Technologies Inc.; OTCQX: SHWZ) announces a Board appointment designed to drive continued synergy, strategic topline growth and acquisition activity.
Board of Director Appointment
Pratap Mukharji, a seasoned management consultant, has been appointed to the Schwazze Board of Directors. Mukharji is a retired consultant working over 30 years in management consulting, the majority with Bain & Company leading its Supply Chain and Service Operations practices. With a concentration in Industrials and Retail, Mukharji has led strategy; M&A; transformation and turnaround; operations improvement; due diligence, omnichannel; and
Papa & Barkley Announces Promotions, New Hires
Cannabis wellness company Papa & Barkley has boosted its executive team with several promotions and new hires.
Adam Grossman, who served as founder and CEO of Eureka, California-based company, is now chair of the board of directors.
Former Milani Cosmetics CMO Evelyn Wang agreed to join Papa & Barkley and replace Grossman as the new CEO. Wang has over 15 years of senior management experience from her time working at L Oreal and The Estee Lauder Companies.
Papa & Barkley co-founder and CPO Guy Rocourt was promoted to President in September. Meanwhile, Zeeshan Hyder will oversee the company s financial department.