Cannabis  January 26, 2022

Schwazze closes on acquisition of Drift dispensaries in Boulder

BOULDER — Schwazze, a cannabis company formerly operating as Medicine Man Technologies Inc. (OTCQX: SHWZ), has closed on a deal to buy the assets of  BG3 Investments LLC, the operator of two Drift-branded dispensaries in Boulder. 

The price of acquisition was $3.5 million  — $1.9 million in cash and $1.6 million in common stock.

“We look forward to adding these dispensaries to our portfolio. The Company remains focused on bringing excellent shopping experiences to all areas of Colorado by providing a wide assortment of quality products along with great service that our customers have come to expect from our brands, Schwazze chief operating officer Nirup Krishnamurthy said in a prepared statement. “We are excited to bring that experience to our customers in Boulder.”

SPONSORED CONTENT

Solar Operations and Maintenance for Commercial Properties

One key qualification to consider when selecting a solar partner to install your system is whether they have an Operations and Maintenance (O&M) or service department. Since solar is a long-term asset with an expected lifecycle of 30 plus years, ongoing O&M should be considered up front. A trusted O&M partner will maximize your system’s energy output and therefor the return on your investment.

Schwazze now operates 20 marijuana shops. 

Sign up for BizWest Daily Alerts