Pot provider buying spree continues

Denver — Schwazze bought three marijuana companies for $33.2 million in cash and stock. Schwazze is the trade name of Medicine Man Technologies Inc. (OTCQX: SHWZ).

Press releases said it paid $29 million, 60% in cash, for MCG LLC in Colorado Springs and $4.2 million, $4 million in cash, for Smoking Gun LLC and Smoking Gun Land Co. LLC in Glendale. MCG operates under the name Emerald Fields.

Assets of the companies are in Manitou Springs and Glendale. Schwazze will own 22 dispensaries once state regulators approve the acquisitions and the deals close, expected in about two months. Schwazze in June bought two Boulder dispensaries and last year bought 14 in Longmont, Louisville and Niwot.

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Releases said Schwazze is building “cannabis businesses and brands spanning seed to sale” “combin[ing] customer-centric thinking and data science to test, measure, and drive decisions and outcomes.”

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