Denver-based Schwazze said it has terminated its planned acquisition of MedPharm, a medical marijuana company in the same city that landed Colorado’s first cannabis research and development license. Schwazze announced earlier this year it had moved forward on numerous term sheets with Colorado cannabis operators but had completed limited due diligence at that time. Schwazze was supposed to acquire several Colorado-based businesses, including cultivator Los Sueños Farms, concentrates company Dabble Extracts, and retailers Strawberry Fields and Colorado Harvest Co. Justin Dye, Schwazze’s chair and CEO reported that “We are committed to creating shareholder value and generating compelling investment returns and believe that by staying true to our core business strategy of building a vertically integrated platform, we will do just that.” Currently, Schwazze, remains in negotiations with announced acquisitions Roots Rx and Canyon Cultivation.
Marijuana Business Daily, 10/01/2020 14:34:59