Denver pot shop operator buys Drift dispensaries in Boulder
BOULDER — Schwazze, a cannabis company formerly operating as Medicine Man Technologies Inc. (OTCQX: SHWZ), has inked a deal to buy the assets of BG3 Investments LLC, the operator of two Drift-branded dispensaries in Boulder.
When the deal closes — expected to occur this year — the Denver-based Schwazze will own 19 cannabis shops.
The company agreed to by Drift for $3.5 million — $1.9 million in cash and $1.6 million in common stock, according to a Schwazze news release.
SPONSORED CONTENT
Business Cares: April 2024
In Colorado, 1 in 3 women, 1 in 3 men and 1 in 2 transgender individuals will experience an attempted or completed sexual assault in their lifetime. During April, we recognize Sexual Assault Awareness Month with the hopes of increasing conversations about this very important issue.
“We look forward to adding these dispensaries to our portfolio,” Schwazze CEO Justin Dye said in the release. “The company remains focused on bringing excellent customer experiences to all areas of Colorado, and we are excited to bring that experience to our customers in Boulder.”
Last year, Schwazze bought 14 Star Buds dispensary locations in Colorado, including pot shops in Longmont, Louisville and Niwot.
© 2021 BizWest Media LLC