Subject: MDCL Ramping Up Quickly: Upon closing of pending acquisitions, the Company will operate a total of 14 dispensaries within Colorado

SCV Client Spotlight
BY READING THIS EMAIL YOU CERTIFY YOU HAVE READ THE DISCLAIMER BELOW AND THE FULL DISCLAIMER PROVIDED THROUGH A LINK AT THE END OF THIS EMAIL. This is a paid advertisement. SmallCapVoice.com, Inc. is not responsible or held liable for the information in the press releases issued by the companies in these emails. Please always do your own due diligence.
Facebook Twitter YouTube
MDCL Ramping Up Quickly: Upon closing of pending acquisitions, the Company will operate a total of 14 dispensaries within Colorado
Hot Stock to WatchHot Stock to Watch

Company: Medicine Man Technologies Inc. (OTCQX: MDCL)


Last:

Price: 3.05

Change (%): - 0.05 (1.61)

Volume: 53,085
MDCL Chart

Medicine Man Technologies to Bolster Retail Distribution Channels with Planned Acquisition of Colorado Harvest Company

DENVER, Sept. 4, 2019 /PRNewswire/ — Medicine Man Technologies, Inc. (OTCQX: MDCL) (“Medicine Man Technologies” or the “Company”), announced today that it has entered into a binding term sheet to acquire Colorado Harvest Company (“Colorado Harvest”), an operator of two leading cannabis dispensaries in Denver and one in nearby Aurora.

Under the terms of the transaction, Medicine Man Technologies will purchase Colorado Harvest for $12.5 million, or 1.25 times its anticipated 2019 revenue of $10 million. The purchase price will consist of $4 million in cash and $8.5 million in Company stock, equating to 2,881,356 shares issued at $2.95 per share. The terms of the transaction can also be referenced in the Company’s 8-K, which outlines the closing conditions and are conditioned upon the satisfaction or mutual waiver of certain conditions, including regulatory approval.

“Tim and Ralph are early industry pioneers that built an avid following for their proprietary naturally grown strains when recreational cannabis was legalized in Colorado,” said Andy Williams, Co-Founder and Chief Executive Officer of Medicine Man Technologies. “Given their many years of underlying cultivation experience, Tim and Ralph have perfected their formula for growing cannabis naturally with a focus on utmost quality using environmentally sensitive grow practices that many consumers enjoy. Their combined cannabis knowledge even led them to begin producing CO2-extracted cannabis oil that they later turned into a company called O.penVAPE, now the leading cannabis personal vaporizer in the country. Adding their deep retail, cultivation, and product development experience to the Company will prove very beneficial as we continue with our plans to vertically integrate our business and look for future cross-selling opportunities from our expanding operations.”

“Colorado HB 19-1090 has ushered in the next phase of development for the Colorado cannabis industry by permitting outside investors to invest in the Colorado cannabis space,” said Tim Cullen, Chief Executive Officer of Colorado Harvest Company. “Following the passage of this law, the time was never more right for us to join the outstanding team at Medicine Man Technologies, who is now free to invest in the industry, given the synergies involved. Their growing team of Colorado cannabis pioneers is very impressive, and we are happy to be aligned with their joint efforts, all soon to be under one roof. Furthermore, the management team at Medicine Man Technologies is incredibly accomplished, and they are executing successfully on their plan to bring financial discipline and a clear strategy in their efforts to build the region’s premier cannabis company. We are delighted to join them in this next leg of growth.”

Continue Reading


IMPORTANT DISCLAIMER - PLEASE READ THOROUGHLY
SmallCapVoice (SCV) is an electronic publication. Information sources for our profiles include, but are not limited to, online research, member suggestions, magazines, newspapers, analyst suggestions, publicly available material information provided by the profiled company, press releases and similar sources. This communication is not an offer to sell or a recommendation that you buy or sell any security. SCV holds no securities licenses and is not qualified to provide investment advice. We are compensated for these advertisements by the profiled companies. You should not use this newsletter as the sole basis for any investment decision. While all investments involve risk, microcap stocks are among the most risky. Many microcap companies have no proven track record. You should only invest in microcap companies if you can afford to lose your entire investment. You should consult a qualified, licensed financial advisor or stock broker before making any decisions to invest in the securities of any company that is described in these profiles. These profiles are paid advertisements. Although we have a reasonable belief that the information in each profile is accurate, we cannot guarantee that this information, which originates from third parties, is accurate. We do not have the resources to confirm the accuracy of all information obtained from third parties. It is important for you to verify all information by your own independent research. You are receiving this message because you have agreed to receive emails from SmallCapVoice.com. You may opt out of our distribution list at any time by clicking on the “unsubscribe” link below. Link to full disclosure about compensation paid to SmallCapVoice.com, Inc. by companies featured on our website or in our e-mail communications.

About Penny Stocks