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| MDCL Outlines Consolidation Strategy and Projected Revenue From Recent Acquisitions |
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 Hot Stock to Watch |
Company: Medicine Man Technologies Inc. (OTCQX: MDCL)
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Last:
Price: 3.95
Change (%): + 0.00 (0.00)
Volume: 82,458 |
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Medicine Man Technologies Highlights Landmark Consolidation Strategy To Create One Of North America’s Largest Vertically Integrated Cannabis Operators. Projected Annual Revenues From The Previously Disclosed Proposed Acquisitions Total Approximately $170 Million In 2019
DENVER, Sept. 16, 2019 /PRNewswire/ — Medicine Man Technologies, Inc. (OTCQX: MDCL) (“Medicine Man Technologies” or the “Company”) announced a culmination of its roll-up strategy today that would solidify the Company as one of the largest vertically integrated cannabis operators in North America upon closing of these pending acquisitions—and as a deeply experienced retailer and manufacturer of cannabis-infused products and concentrates driven by a leadership team that has unprecedented experience in regulated cannabis markets.
As previously disclosed, the Company—which also includes a new executive team with decades of experience in mergers & acquisitions, private equity, strategic operations and corporate finance—has entered into binding term sheets to acquire some of the best-selling cannabis brands in the legal Colorado cannabis industry, a combination of pending transactions that spans 12 cultivation facilities (including Los Sueños Farms LLC, one of North America’s largest sustainable cannabis farms); seven proprietary extraction facilities (including Purplebee’s); seven manufacturers of infused products (including Medically Correct, one of Colorado’s largest edible manufacturers; licensed producer of incredibles in Colorado, and creators of new brands Quiq and Nove, set to launch this fall); 33 strategically located retail dispensaries (including five Starbuds-branded dispensaries in Colorado); and a state-of-the-art manufacturing / research and development lab (MedPharm’s Colorado facility has the first and only active cannabis research license in the state).
These acquisitions are made possible by the passage of House Bill 19-1090, which was signed into law by Colorado Gov. Jared Polis on May 29, 2019, thus opening up Colorado’s cannabis industry to outside investors and enabling increased investment by venture capitalists and private equity firms. Medicine Man Technologies Chief Executive Officer Andy Williams was a major driving force behind the Colorado cannabis industry’s push for public company ownership legislation, and he also sat on the rulemaking committee after the legislation was passed.
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