Schwazze, formerly operating as Medicine Man Technologies Inc (“Schwazze ”), announced it has closed on the asset purchase of the first six of 13 Star Buds Colorado retail locations. The total consideration was approximately $37.1 million, consisting of $13.9 million in cash, $13.9 million in a seller’s note, and $9.3 million in Preferred Stock (at a price of $1,000 per share). Star Buds is one of the most recognized and successful retail cannabis operators in North America. The company is home to a wide selection of strains, concentrates, edibles, tinctures, and best-in-class customer service. The acquired dispensaries are located in Denver, Commerce City, Longmont, Niwot, Pueblo, and Pueblo West and are projected to generate proforma revenue of approximately $24 million and EBITDA in the range of approximately 36% of revenue in 2020.
Mmp News Author, Medical Marijuana Program Connection, 12/22/2020 00:25:14