Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Pennsylvania Entrance. MariMed announced a strategic agreement with TILT Holdings that will expand the distribution of the Company’s award winning portfolio of medical marijuana products to Pennsylvania. We view this as a significant expansion of MariMed’s product line into one of the largest cannabis markets.
Pennsylvania Market. The Pennsylvania cannabis market is estimated at $1.7 billion of annual revenue, making Pennsylvania the sixth largest legal cannabis market in the U.S. Significantly, the state remains a medical state only. When, and if, adult recreational use is approved, the overall cannabis market is projected to at least double. There are currently in excess of 180 medical dispensaries in the state, providing a large potential base to distribute MariMed products into.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
NORWOOD, Mass., July 31, 2025 (GLOBE NEWSWIRE) — MariMed Inc. (“MariMed,” “the Company”) (CSE: MRMD) (OTCQX: MRMD), a leading cannabis consumer packaged goods company and retailer, today announced a strategic agreement with TILT Holdings (“TILT”) (CBOE: TILT) (OTCPK: TLLTF) that will expand the distribution of the Company’s award-winning portfolio of medical marijuana products to Pennsylvania.
On July 30, 2025, Standard Farms, LLC (“Standard Farms”), a wholly owned subsidiary of TILT, entered into a Management Services Agreement (the “MSA”) with MariMed Advisors, Inc., a Delaware corporation and wholly owned subsidiary of MariMed (the “Manager”). Under the terms of the MSA, effective September 1, 2025, MariMed will assume the day-to-day management of TILT’s Standard Farms cultivation and processing facility in White Haven, Pennsylvania. Standard Farms will remain the sole permit holder. As Manager, MariMed will provide comprehensive management services to Standard Farms, including oversight of budgeting, financial planning, and compliance with applicable laws, and will maintain quality management programs. The Manager will also be responsible for advising on accounting, managing business bank accounts, and ensuring compliance with tax and licensing requirements. In addition, Standard Farms intends to produce and distribute MariMed’s award-winning brands in Pennsylvania, the fifth most populous state in the country, pursuant to a licensing arrangement with MariMed.
Pursuant to the MSA, which has an initial term of four years, MariMed will receive a management fee of 12.5% of Standard Farm’s gross revenue.
“We are thrilled to bring our brands to consumers in the great state of Pennsylvania, a strong medical marijuana market that is likely to become the next cannabis adult-use market,” said Jon Levine, MariMed’s Chief Executive Officer. “These agreements align with our ‘Expand the Brand’ strategy, a top priority initiative that is driving us toward becoming the leading consumer packaged goods company in medical marijuana. We will continue to identify opportunities to expand the distribution of our brands into new, high-growth markets and deeper in our existing markets.”
“We are excited to partner with the MariMed team and to support their expansion,” said TILT Chief Executive Officer, Tim Conder. “We are eager to work closely with MariMed through this MSA agreement, providing their trusted and high-quality branded products to medical marijuana patients throughout Pennsylvania. These brands lead in other markets, and we expect similar success here. Our team has done a tremendous job building a foundation of quality and trust with patients under the Standard Farms banner, and we expect this foundation to be the right launching pad for MariMed. We view this partnership as another positive step forward in the strategic review process we have been conducting over the past few quarters.”
ABOUT MARIMED MariMed Inc. is a leading multi-state cannabis operator, known for developing and managing state-of-the-art cultivation, production, and retail facilities. Our award-winning portfolio of cannabis brands, including Betty’s Eddies™, Bubby’s Baked™, Vibations™, InHouse™, and Nature’s Heritage™, sets us apart as an industry leader. These trusted brands, crafted with quality and innovation, are recognized and loved by consumers across the country. With a commitment to excellence, MariMed continues to drive growth and set new standards in the cannabis industry. For additional information, visit www.marimedinc.com.
ABOUT TILT TILT is dedicated to helping cannabis businesses build their brands. Through a diverse portfolio of companies providing technology, hardware, cultivation and production, TILT services brands and cannabis retailers across North America, South America, Israel and the European Union. TILT’s core business is Jupiter Research LLC, a wholly-owned subsidiary and leader in the vaporization segment focused on hardware design, research, development and manufacturing. Jupiter recently received EU medical device certification for Europe’s first handheld liquid inhalation device. Additionally, TILT operates Commonwealth Alternative Care, Inc., Inc. in Massachusetts, and Standard Farms Ohio, LLC in Ohio and is the permit holder of record for Standard Farms LLC in Pennsylvania. TILT is headquartered in Scottsdale, Arizona. For more information, visit www.tiltholdings.com.
IMPORTANT CAUTION REGARDING FORWARD-LOOKING STATEMENTS:
The information in this release contains “forward-looking” statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, which are subject to several risks and uncertainties. All statements other than statements of historical facts contained in this release, including without limitation statements regarding projected financial results for 2025, including anticipated openings of dispensaries and facilities, timing of regulatory approvals, plans and objectives of management for future operations, are forward-looking statements. Without limiting the foregoing, the words “anticipates”, “believes”, “estimates”, “expects”, “expectations”, “intends”, “may”, “plans”, and other similar language, whether in the negative or affirmative, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.
Forward-looking statements are based on our current beliefs and assumptions regarding our business, timing of regulatory approvals, the ability to obtain new licenses, permits, business prospects and strategic growth plan, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated in these forward-looking statements due to various risks, uncertainties, and other important factors, including, among others, reductions in customer spending, our ability to recruit and retain key personnel, and disruptions from the integration efforts of acquired companies.
These factors are not intended to be an all-encompassing list of risks and uncertainties that may affect our business and results of operations. These statements are not a guarantee of future performance and involve risk and uncertainties that are difficult to predict, including, among other factors, changes in demand for the Company’s services and products, changes in the law and its enforcement, and changes in the economic environment. Additional information regarding these and other factors can be found in our reports filed with the U.S. Securities and Exchange Commission. In providing these forward-looking statements, the Company expressly disclaims any obligation to update these statements publicly or otherwise, whether as a result of new information, future events or otherwise, except as required by law.
All trademarks and service marks are the property of their respective owners.
TILT Company Contact: Lynn Ricci, VP of Investor Relations & Corporate Communications TILT Holdings Inc. lricci@tiltholdings.com
MariMed Company Contact: Howard Schacter, Chief Communications Officer Email: hschacter@marimedinc.com Phone: (781) 277-0007
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Recreational Cannabis. After legislation approving recreational cannabis in April 2023, Delaware will finally commence sales of recreational cannabis on August 1st of this year. Legal recreational cannabis can be purchased in the 13 existing medical dispensaries as well as through the 30 recreational licenses the state has approved. We expect sales to be derived not only from the state population, many of whom currently travel to existing legal states such as Maryland and New Jersey to obtain the product, but also from the estimated 30 million tourists that visit the state annually.
Delaware Market. Delaware has had a medical market for a while. The market is estimated to be approximately $50 million in size, with flattish growth to 2029 when the medical is projected to rise to $55 million. The recreational cannabis market could grow to the $250-$300 million level, according to various government projections.
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NORWOOD, Mass., July 01, 2025 (GLOBE NEWSWIRE) — Following today’s announcement that Delaware will commence adult-use sales of cannabis, MariMed CEO Jon Levine released the following statement:
“We are excited to participate in the expansion of Delaware’s cannabis program to include adult-use sales. Our Delaware business unit, First State Compassion (“FSC”), was the first licensed operator in the state 10 years ago, and since then we have proudly served the state’s medical cannabis patients. The investments we’ve made in our facilities, brands, and employees have positioned us to be the leader in what promises to be a strong, high-growth cannabis market.
“We are looking forward to opening our doors to many more residents and the nearly 30 million tourists who visit the state annually. In anticipation of this expansion, we have already made improvements at both of our two FSC dispensaries in Wilmington and Lewes. They ensure we can easily manage the increased customer traffic and continue to deliver the exceptional experience and product selection that our customers love about visiting an FSC location.
“In order to meet this rise in demand, we have also begun scaling production at our cultivation and processing facilities in Wilmington and Milford. That includes Betty’s Eddies chews, the number one edible in the state, and our FSC and Nature’s Heritage flower brands, which are both top five sellers.
“We thank State Representative Osienski, State Senator Paradee, State Senator Hoffner, and Marijuana Commissioner Sanderlin for their leadership in growing Delaware’s cannabis industry in a safe and responsible manner for both consumers and operators.”
About MariMed MariMed Inc. is a leading multi-state cannabis operator, known for developing and managing state-of-the-art cultivation, production, and retail facilities. Our award-winning portfolio of cannabis brands, including Betty’s Eddies™, Bubby’s Baked™, Vibations™, InHouse™, and Nature’s Heritage™, sets us apart as an industry leader. These trusted brands, crafted with quality and innovation, are recognized and loved by consumers across the country. With a commitment to excellence, MariMed continues to drive growth and set new standards in the cannabis industry. For additional information, visit www.marimedinc.com.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Another Arrow. Yesterday, MustGrow added another arrow to its NexusBioAg product quiver with the signing of a distribution agreement with Phospholutions Inc., whereby MustGrow will sell Phospholutions’ RhizoSorb product in Canada. The new agreement further broadens NexusBioAg’s product offerings in Canada.
RhizoSorb. Phospholutions’ mission is to enhance global phosphorus use, a critical fertilizer for food production. Phosphorus is the second most used nutrient in global food production. RhizoSorb was developed to cut costs and reduce the environmental impact of fertilizer use by releasing nutrients in the soil more efficiently. The product has been through over 500 trials, including over 400 field trials. Notably, Phospholutions has signed a distribution agreement with The Andersons (NASDAQ:ANDE) for RhizoSorb distribution in the U.S.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
All-Natural Line of Wellness Products Designed to Support Overall Well-Being Now Available in Massachusetts
NORWOOD, Mass., May 29, 2025 (GLOBE NEWSWIRE) — MariMed Inc. (“MariMed”) (CSE: MRMD) (OTCQX: MRMD), the company behind the award-winning flower and concentrate brand, Nature’s Heritage™, continued to drive innovation with the launch of MycroDose by Nature’s Heritage, a vegan line of all-natural wellness products that combine the power of full-spectrum cannabis with the added benefits of functional mushrooms in a convenient pill form. MycroDose by Nature’s Heritage delivers four targeted, plant-based solutions designed to enhance mental clarity, promote relaxation, improve focus, and support overall well-being in four distinct formulations. They are available now in Massachusetts at MariMed’s own Panacea Wellness stores and other select dispensaries.
The new line was developed to provide new and existing consumers with a unique, balanced, and controlled experience. Each of the four MycroDose by Nature’s Heritage products are uniquely crafted with a specific blend of all natural vegan ingredients to cater to a variety of needs. The complete line-up includes:
Chill – Designed for relaxation and stress relief, Chill features THC, CBD, and q, blended with the functional mushrooms Organic Cordyceps and Organic Lion’s Mane, and the root plant, Ashwagandha.
G’Night – A formulation aimed at improved sleep and deep relaxation, G’Night combines THC, CBN, CBD with functional mushrooms Organic Reishi and Organic Lion’s Mane, as well as Chamomile and Magnesium.
Remedy – A product focused on reducing inflammation while providing a calm state of mind, Remedy features THC, CBD, and CBC, blended with the functional mushroom Oyster, Ginger root, Turmeric, and Piperine.
Spark – An energizing blend designed to improve energy, focus, and mental clarity, Spark is formulated with Shiitake mushrooms, Organic Lion’s Mane, Ginseng, THCV, and THC.
“Nature’s Heritage is proud to introduce a groundbreaking new line of products that harnesses the synergy between high-quality cannabis, functional mushrooms, and herbs to deliver a truly elevated experience,” said Tami Kirlis, MariMed Brand Director for Nature’s Heritage. “Our team meticulously researched and developed innovative formulas that enhance well-being, mental clarity, and relaxation in a way that’s truly distinct. Nature’s Heritage prioritizes natural ingredients to enhance health and well-being, and MycroDose by Nature’s Heritage delivers on that mission.”
To learn more about MycroDose by Nature’s Heritage and where to purchase the line in Massachusetts, visit www.naturesheritagecannabis.com.
About MariMed MariMed Inc. is a leading multi-state cannabis operator, known for developing and managing state-of-the-art cultivation, production, and retail facilities. Our award-winning portfolio of cannabis brands, including Betty’s Eddies™, Bubby’s Baked™, Vibations™, InHouse™, and Nature’s Heritage™, sets us apart as an industry leader. These trusted brands, crafted with quality and innovation, are recognized and loved by consumers across the country. With a commitment to excellence, MariMed continues to drive growth and set new standards in the cannabis industry. For additional information, visit www.marimedinc.com.
NORWOOD, Mass., April 08, 2025 (GLOBE NEWSWIRE) — MariMed Inc. (“MariMed” or “Company”) (CSE: MRMD) (OTCQX: MRMD), a leading cannabis consumer packaged goods company and retailer, announced today it will report first quarter 2025 financial results on May 7, 2025 after the markets close. Management will host a conference call on May 8, 2025 at 8:00 a.m. EDT to discuss financial results.
A webcast will be available and can be accessed via MariMed’s Investor Relations website at MariMed Q125 Earnings Webcast. A playback of the call will also be made available on MariMed’s Investor Relations website.
About MariMed MariMed Inc. is a leading multi-state cannabis operator, known for developing and managing state-of-the-art cultivation, production, and retail facilities. Our award-winning portfolio of cannabis brands, including Betty’s Eddies™, Bubby’s Baked™, InHouse™, Nature’s Heritage™, and Vibations™, sets us apart as an industry leader. These trusted brands, crafted with quality and innovation, are recognized and loved by consumers across the country. With a commitment to excellence, MariMed continues to drive growth and set new standards in the cannabis industry. For additional information, visit www.marimedinc.com.
Company Contact: Howard Schacter Chief Communications Officer Email: hschacter@marimedinc.com Phone: (781) 277-0007
NORWOOD, Mass., April 07, 2025 (GLOBE NEWSWIRE) — MariMed Inc. (“MariMed” or “Company”) (CSE: MRMD) (OTCQX: MRMD), a leading cannabis consumer packaged goods company and retailer has promoted Ryan Crandall to Chief Commercial Officer, effective immediately. In his new role, Mr. Crandall will lead the Company’s commercial strategy and activities, including Sales, Marketing, Product Development, and Retail Operations. He has served as MariMed’s Chief Revenue Officer since July 2022, and prior was the Company’s Chief Products Officer and SVP, Sales for four years. Mr. Crandall will continue to report to MariMed CEO Jon Levine.
“Ryan has been a driving force behind creating our innovative and trusted portfolio of brands and establishing them as top sellers in our core markets,” said Mr. Levine. “He has also guided our efforts to deliver an exceptional customer experience at our retail locations. His promotion to Chief Commercial Officer is well-deserved and I look forward to his continued contributions to value generation for our customers and shareholders.”
Mr. Crandall entered the cannabis industry in 2014 when he co-created Betty’s Eddies™, a brand of all-natural, cannabis-infused chews that MariMed acquired prior to his joining the company in 2018. Prior, he held a series of executive positions with increasing sales responsibilities in major cybersecurity and software corporations, including RSA Security and EMC2.
“I am honored and excited to step into the role of Chief Commercial Officer at MariMed,” said Mr. Crandall. “Being a part of this great company, with its award-winning brands, dedication to strategic growth initiatives, and commitment to its mission of improving lives, has been a fantastic journey. I’m eager to deepen my collaboration with our talented team, building on our collective success to strengthen MariMed’s position as a leading cannabis products company.”
About MariMed MariMed Inc. is a leading multi-state cannabis operator, known for developing and managing state-of-the-art cultivation, production, and retail facilities. Our award-winning portfolio of cannabis brands, including Betty’s Eddies™, Bubby’s Baked™, InHouse™, Nature’s Heritage™, and Vibations™, sets us apart as an industry leader. These trusted brands, crafted with quality and innovation, are recognized and loved by consumers across the country. With a commitment to excellence, MariMed continues to drive growth and set new standards in the cannabis industry. For additional information, visit www.marimedinc.com.
Company Contact: Howard Schacter Chief Communications Officer Email: hschacter@marimedinc.com Phone: (781) 277-0007
Schwazze (OTCQX:SHWZ, NEO:SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Update. Schwazze, in conjunction with its new auditors, has determined that its financial statements for the two fiscal years ended December 31, 2023, will be restated due to the identification of certain accounting adjustments needed primarily relating to technical accounting areas. The Company filed an 8-k describing the necessary adjustments.
Impact. Although mostly related to technical accounting areas, the Company has concluded that the impact of these corrections is material and, therefore, worthy of restatement. However, Schwazze does not currently believe that the foregoing corrections will have any negative material impact on the Company’s revenue, adjusted EBITDA, cash from operations, or cash position.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Schwazze (OTCQX:SHWZ, NEO:SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Preliminary 3Q24 Results. Last night, Schwazze reported preliminary 3Q24 results. We believe the ongoing audit of past results is likely causing a delay in reporting results. According to the release, 3Q24 revenue is expected to be approximately $42 million, and adjusted EBITDA is expected to be approximately $11 million. In 3Q23, Schwazze reported revenue of $46.7 million and adjusted EBITDA of $14.1 million. We had estimated revenue of $44.5 million and adjusted EBITDA of $10.3 million.
Making Progress. In spite of the challenging operating environment, Schwazze continued to generate momentum from its retail growth and optimization initiatives in the quarter, reflected by the Company once again outpacing two highly competitive markets while generating sequential improvements in profitability and positive cash flow from operations. Management noted increased store traffic in both Colorado and New Mexico.
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Schwazze (OTCQX:SHWZ, NEO:SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Audit. Schwazze and its auditor are working diligently to complete the necessary re-audit of the 2023 financials. While management did not provide a timetable, we believe the process will be completed in the near-term. No material misstatements have been uncovered to date. Once audited financials are filed, we expect the Company to apply for re-listing of its shares.
Re-Scheduling. We continue to expect re-scheduling to occur in the near-term, which will have a positive impact on the entire industry. Schwazze continues to believe the elimination of 280e taxes will have a significant impact on cash flows for the Company. The Company also will seek to refile past tax returns to capture prior excess taxes paid under 280e.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Schwazze (OTCQX:SHWZ, NEO:SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Results. Revenue of $43.2 million increased 2% y-o-y and was in-line with our $43 million estimate. Gross profit margin fell to 44% from 54.4% a year ago, but was in-line with our 43.6% projection. The GM decline reflects ongoing pricing pressure in both Colorado and New Mexico, as well as a greater mix of 3rd-party products in New Mexico and higher medical sales in Colorado. Schwazze reported a net operating loss of $2.7 million and a net loss of $13.9 million, or $0.20/sh. We were at a net loss of $0.19/sh.
Quarter Highlights. Schwazze generated sequential quarterly growth across all key financial metrics during the quarter. The Company continued to focus on sharper pricing and promotional strategies to drive store traffic and market share in both Colorado and New Mexico. Wholesale margins continued to show improvement.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Schwazze (OTCQX:SHWZ, NEO:SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
A Move. We had an opportunity to speak with management regarding the announcement that the OTC Market Group will move trading of SHWZ shares to the OTC Expert Market from OTC QX as a result of the Company’s delinquent 10-Q filing for the period ending March 31, 2024. We believe the move to be temporary and does not have an impact on the long-term investment potential of SHWZ shares.
Why? As we noted previously, Schwazze has been caught up in the BF Borgers case. Schwazze replaced Borgers as the Company’s accountant in April, before the SEC case against Borgers was announced. The Company’s new accountant Baker Tilly is re-auditing Schwazze’s 2023 financial statements, but the review will take longer than the OTC Market Group’s 45 day late filing grace period. We are hopeful the review will be completed in the August/September time frame.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
