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DENVER – Medicine Man Technologies, Inc. (OTCQX: MDCL) (“Medicine Man Technologies” or “Company”), a swiftly developing, vertically integrated cannabis operator, right now is pleased to announce that it has entered into binding term sheets to obtain 100% of the assets of Green Equity S.A.S. (“Green Equity”). The acquisition will offer Medicine Man Technologies with more licenses and intellectual house (IP) for cultivation, manufacturing, extraction, exportation, and R&D, rising its capabilities and service offerings to becoming a vertically integrated operator. The Corporation will combine its most effective-in-class cultivation procedures with its access to Green Equity’s 271-acre farm, situated outdoors Bogotá.
“This pending acquisition secures our technique for international development, starting with our entry into Colombia,” stated Mr. Andy Williams, Co-Founder and Chief Executive Officer of Medicine Man Technologies. “We have confirmed the accomplishment of our rollout in Colorado and have created a globe-class reputation that now is ripe with possibilities. We think that our early entry into the industry will enable us to additional our purpose of becoming a important worldwide player in the cannabis business and produce tremendous worth for our shareholders.”
Medicine Man Technologies will spend $five.four million for Green Equity, consisting of $450,000 in money and 1,292,427 shares of prevalent stock at $three.83 per share. Following the Company’s current financing with Dye Capital & Corporation, Medicine Man Technologies has a powerful balance sheet to help its development initiatives.
The deal marks the Company’s third transaction this month, underscoring its commitment to developing its footprint as an early mover inside the dynamic cannabis space. Particularly, Medicine Man Technologies lately announced the pending acquisitions of Los Sueños, the biggest cannabis farm and cultivation facility in North America, and a binding agreement with Purplebee’s, a household-owned dispensary and important scale extractor of superior good quality cannabis.
For extra data about Medicine Man Technologies, please stop by MedicineManTechnologies.com.
About Medicine Man Technologies
Medicine Man Technologies is a totally integrated operator in the cannabis business, providing consulting, retail pharma-grade items, and turnkey options for cannabis cultivators for more than a decade. Medicine Man Technologies is leveraging its experience and intellectual house to vertically integrate retail, cultivation, formulation, and distribution operations. The Company’s client portfolio consists of active and previous consumers in 18 states and seven nations.