January 29, 2021 at 7:07 am Published by NCV Newswire
DENVER, January 28, 2021–(BUSINESS WIRE)–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 e-commerce efforts across multiple industries. Prior to Bain, he was at Kearney and Booz-Allen & Hamilton. Mukharji received a BA
January 3, 2021 at 10:55 am
You’re reading a copy of this week’s edition of the New Cannabis Ventures weekly newsletter, which we have been publishing since October 2015. The newsletter includes unique insight to help our readers stay ahead of the curve as well as links to the week’s most important news.
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We just wrapped up the first year of gains for cannabis stocks since 2017, with the New Cannabis Ventures Global Cannabis Stock Index rising 5%. While the return for the year wasn’t impressive, 2020 ended strongly, with 4th quarter gains of 62%.
In May, we described what we thought at the time was the beginning of a new bull market for cannabis stocks, and we expect the positive trends to continue in 2021. We detailed our positive outlook for American cannabis operators last week, and this week we want to share a broader perspective. Those who have followed the cannabis industry certainly appreciate how it never follows the script. Here are some of the
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The firm intends to buy an additional seven Star Buds dispensaries, including shops in Westminster and Louisville, in early 2021 so long as financing is available.
After absorbing the Star Buds locations, Schwazze will operate 17 shops along the Front Range. The company eventually plans to expand into other parts of Colorado, according to a Schwazze news release.
Schwazze Acquires Six Star Buds Dispensaries in Colorado businesswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesswire.com Daily Mail and Mail on Sunday newspapers.
Cannabis company Schwazze (OTCQX:SHWZ) has closed the acquisition of the first six out of 13 Star Buds Colorado retail locations for around $37.1 million.
Back in June, Schwazze signed definitive agreements to purchase all 13 Start Buds locations in Colorado, and one cultivation center. The company projects to obtain the other seven locations in the first quarter of the following year.
Star Buds is a retail cannabis operator in the U.S. offering a diverse portfolio of cannabis products, such as strains, edibles, concentrates, and tinctures.
These six dispensaries that were first acquired are located in Commerce City, Niwot, Pueblo, Pueblo West, Denver, and Longmont. Its collective pro-forma revenue for this year is estimated to reach around $24 million, and EBITDA to be around 36% of revenue.