MedPharm Holdings, a leading medical cannabis manufacturer, R&D laboratory, and compounding facility, announced today they will not be extending their term sheet for acquisition with Schwazze, Inc. (SHWZ), formerly operating as Medicine Man Technologies. The term sheet expires today, September 30, 2020. After more than a year and a half of negotiations, both parties agreed to the transaction no longer beneficial to either party. Albert Gutierrez, CEO of MedPharm said “We remain as optimistic as ever about MedPharm’s future and our ability to bring groundbreaking research that is enhanced by the novel, cannabinoid-containing dosage forms…..I felt it was a good time to move on and seek other qualified partners for investment purposes. Currently, MedPharm is well-positioned in the industry after experiencing a series of historical business developments. In August of 2019, the Drug Enforcement Administration (DEA) announced that MedPharm Research, a wholly-owned subsidiary of MedPharm Holdings, was selected to move forward as one of the first applicants to be considered for a license to grow federally legal cannabis under a new policy statement issued in the Federal Register.

Mmp News Author, Medical Marijuana Program Connection, 09/30/2020 07:18:28

Open article: