Cannabis Archives - Page 2 of 7

Release – Schwazze Announces Fourth Quarter And Full Year 2023 Financial Results

Posted on March 27, 2024April 1, 2024 by aweinsoff@channelchek.com

March 27, 2024

FY 2023 Revenue of $172.4 Million; Income from Operations of $3.3 Million; Adjusted EBITDA of $53.4 Million or 31% of Revenue

Generated $12.2 Million of Operating Cash Flow in FY 2023

DENVER, March 27, 2024 /CNW/ – Medicine Man Technologies, Inc., operating as Schwazze, (OTCQX: SHWZ) (Cboe: SHWZ) (“Schwazze” or the “Company”), today announced financial and operational results for the fourth quarter and full year ended December 31, 2023.

“This past year, the Schwazze team delivered solid top-line growth in two highly competitive markets with 31% adjusted EBITDA margins and improved operating cash flow,” said Forrest Hoffmaster, Interim CEO of Schwazze. “We continued to sharpen our retail strategy while expanding our store footprint by more than 50% to 63 dispensaries across our two markets. Although the Colorado and New Mexico markets were pressured in 2023, we have built a solid foundation with best-in-class service for our patients and customers. Internally, we are also relentlessly focused on maximizing the operating efficiencies of our manufacturing and cultivation facilities to drive higher yields, improved flower quality, and greater output.”

“With strong demand and over 680 recreational retail stores at year-end, the competitive landscape in Colorado is fierce, underscoring the importance of our investments in and attention to elevating the customer experience. We significantly outpaced the market in Q4 on a sequential and year-over-year basis and expect to bolster our growth through improvements in customer acquisition, retention, and loyalty, as well as in the overall retail experience. Additionally, we are beginning to see wholesale pricing stabilize, which we anticipate will continue based on plant counts and ongoing retail pricing pressure.”

“In New Mexico, the proliferation of new licenses has led to increased competition and aggressive pricing strategies from certain players. Cannabis sales in the state were up 18% across a store base that was over 50% higher year-over-year in Q4, leading to lower average revenue per store. While we are beginning to see a slow-down in net new store openings, we anticipate a challenging market ahead. We remain focused on cost optimization and asset utilization while implementing a balanced pricing and promotional strategy to drive traffic into our stores, where we believe we excel in delivering an elevated retail experience. We are committed to fulfilling our promise of being the retailer of choice in New Mexico.”

“Looking ahead, we are optimistic about the regulatory momentum in the industry at large. In the meantime, we will continue to elevate the customer experience, improve our loyalty program, increase our cost efficiencies, and enhance our retail assets. Our team has a demonstrated track record of executing in competitive markets like Colorado and New Mexico where we remain one of the largest operators. We look forward to driving growth and profitability across each of our markets in 2024.”

Fourth Quarter 2023 Financial Summary

*$ in Thousands USD*	Q4 2023	Q3 2023	Q4 2022
Total Revenue	$43,325	$46,747	$40,147
Gross Profit	$7,034	$21,438	$21,719
Adjusted Gross Profit[1]	$20,180	$21,438	$21,719
Operating Expenses	$23,276	$12,514	$24,224
Income (Loss) from Operations	$(16,242)	$8,924	$(2,505)
Adjusted EBITDA[2]	$10,953	$14,119	$13,285
Operating Cash Flow	$3,452	$6,946	$6,260

Full Year 2023 Financial Summary

*$ in Thousands USD*	FY 2023	FY 2022
Total Revenue	$172,448	$159,379
Gross Profit	$76,024	$80,289
Adjusted Gross Profit1	$89,170	$86,830
Operating Expenses	$72,735	$67,434
Income from Operations	$3,289	$12,855
Adjusted EBITDA2	$53,412	$52,010
Operating Cash Flow	$12,201	$6,694
___________________________
¹ Adjusted Gross Profit is a non-GAAP measure as defined by the SEC and represents gross profit excluding non-cash inventory adjustments. The Company uses Adjusted Gross Profit as it believes it better explains the results of its core business. See “ADJUSTED GROSS PROFIT RECONCILIATION (NON-GAAP)” section herein for an explanation and reconciliations of non-GAAP measure used throughout this release.
² Adjusted EBITDA is a non-GAAP measure as defined by the SEC, and represents earnings before interest, taxes, depreciation, and amortization, adjusted for other income, non-cash share-based compensation, one-time transaction related expenses, or other non-operating costs. The Company uses Adjusted EBITDA as it believes it better explains the results of its core business. See “ADJUSTED EBITDA RECONCILIATION (NON-GAAP)” section herein for an explanation and reconciliations of non-GAAP measure used throughout this release.

Full Year 2023 Operational Highlights

Expanded the Company’s retail footprint by more than 50% in New Mexico and Colorado to 63 dispensaries.
Completed the acquisition of Everest Apothecary, adding 14 dispensaries, one cultivation facility, and one manufacturing plant to the Company’s New Mexico operations.
Acquired Standing Akimbo, the largest medical cannabis dispensary in Colorado, and opened the Company’s first medical dispensary in Colorado Springs under the Standing Akimbo banner.
Acquired two Colorado retail dispensaries in Fort Collins and Garden City from Smokey’s.
Unveiled an enhanced, custom ecommerce platform in New Mexico under the R. Greenleaf banner.
Increased wholesale penetration in Colorado and New Mexico by over 3x year-over-year to more than 27% total door penetration in both states.
Grew Lowell Farms pre-roll sales by over 250% in Colorado where it is now the #1 pre-roll in the state. In addition, Lowell is in six of the largest Colorado accounts and will be available for wholesale in New Mexico starting April 1^st, 2024.
Grew sales with Wana, our fan-favorite gummies brand, by 48% in New Mexico where it is now in 130 doors with eight of the top ten accounts in the state.

Fourth Quarter 2023 Financial Results

Total revenue in the fourth quarter of 2023 increased 8% to $43.3 million compared to $40.1 million for the same quarter last year. The increase was primarily due to growth from new stores compared to the prior year period and increased wholesale revenue, partially offset by pricing pressure from the proliferation of new licenses in New Mexico.

Gross profit for the fourth quarter of 2023 was $7.0 million or 16.2% of total revenue, compared to $21.7 million or 54.1% of total revenue for the same quarter last year. The decrease in gross margin was primarily driven by one-time, non-cash inventory adjustments of approximately $13.1 million comprised of $3.1 million of product consolidation, obsolescence, and shrinkage expenses, $4.3 million of net realizable value adjustments, and $5.8 million of fair value adjustments on acquired inventory in New Mexico in 2023. Adjusted gross profit, which excludes non-cash inventory adjustments, for the fourth quarter of 2023 was $20.2 million or 46.6% of revenue.

Operating expenses for the fourth quarter of 2023 were $23.3 million compared to $24.2 million for the same quarter last year. The decrease was primarily due to a lower impairment charge in the fourth quarter of 2023. This was partially offset by an increase in four-wall SG&A expenses associated with the 22 additional stores in Colorado and New Mexico that are still ramping, as well as greater salaries and stock-based compensation.

Loss from operations for the fourth quarter of 2023 was $16.2 million compared to $2.5 million in the same quarter last year. The decrease was driven by the aforementioned lower gross profit, primarily related to the non-cash inventory adjustment. Net loss was $33.9 million for the fourth quarter of 2023 compared to $27.3 million for the same quarter last year.

Adjusted EBITDA for the fourth quarter of 2023 was $11.0 million or 25.3% of revenue, compared to $13.3 million or 33.1% of revenue for the same quarter last year. The decrease in Adjusted EBITDA margin was primarily driven by higher operating expenses associated with the 22 additional stores that are still ramping.

As of December 31, 2023, cash and cash equivalents were $19.2 million compared to $38.9 million on December 31, 2022. Total debt as of December 31, 2023, was $156.8 million compared to $127.8 million on December 31, 2022.

Conference Call

The Company will conduct a conference call today, March 27, 2024, at 5:00 p.m. Eastern time to discuss its results for the fourth quarter and full year ended December 31, 2023.

Schwazze management will host the conference call, followed by a question-and-answer period. Interested parties may submit questions to the Company prior to the call by emailing ir@schwazze.com.

Date: Wednesday, March 27, 2024
Time: 5:00 p.m. Eastern time
Toll-free dial-in: (888) 664-6383
International dial-in: (416) 764-8650
Conference ID: 38840334
Webcast: SHWZ Q4 & FY 2023 Earnings Call

The conference call will also be broadcast live and available for replay on the investor relations section of the Company’s website at https://ir.schwazze.com.

Toll-free replay number: (888) 390-0541
International replay number: (416) 764-8677
Replay ID: 840334

If you have any difficulty registering or connecting with the conference call, please contact Elevate IR at (720) 330-2829.

About Schwazze

Schwazze (OTCQX: SHWZ) (Cboe: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to explore taking 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.

Medicine Man Technologies, Inc. was Schwazze’s former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc. Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth. To learn more about Schwazze, visit https://schwazze.com/.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include financial outlooks; any projections of net sales, earnings, or other financial items; any statements of the strategies, plans and objectives of our management team for future operations; expectations in connection with the Company’s previously announced business plans; any statements regarding future economic conditions or performance; and statements regarding the intent, belief or current expectations of our management team. Such statements may be preceded by the words “may,” “will,” “could,” “would,” “should,” “expect,” “intends,” “plans,” “strategy,” “prospects,” “anticipate,” “believe,” “approximately,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” or the negative of these terms or other words of similar meaning in connection with a discussion of future events or future operating or financial performance, although the absence of these words does not necessarily mean that a statement is not forward-looking. We have based our forward-looking statements on management’s current expectations and assumptions about future events and trends affecting our business and industry. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. Therefore, forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) regulatory limitations on our products and services and the uncertainty in the application of federal, state, and local laws to our business, and any changes in such laws; (ii) our ability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (iii) our ability to identify, consummate, and integrate anticipated acquisitions; (iv) general industry and economic conditions; (v) our ability to access adequate capital upon terms and conditions that are acceptable to us; (vi) our ability to pay interest and principal on outstanding debt when due; (vii) volatility in credit and market conditions; (viii) the loss of one or more key executives or other key employees; and (ix) other risks and uncertainties related to the cannabis market and our business strategy. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
ir@schwazze.com

MEDICINE MAN TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME AND (LOSS)
For the Periods Ended December 31, 2023 and 2022
Expressed in U.S. Dollars

	For the Three Months Ended				For the Twelve Months Ended
	December 31,				December 31,
	2023		2022		2023		2022
	(Unaudited)		(Unaudited)		(Audited)		(Audited)
Operating Revenues
Retail	$	39,592,779	$	36,868,429	$	155,463,816	$	141,254,893
Wholesale		3,730,749		3,158,670		16,765,425		17,819,938
Other		1,287		120,188		218,545		304,388
Total Revenue		43,324,815		40,147,287		172,447,786		159,379,219
Total Cost of Goods & Services		36,291,059		18,428,528		96,424,150		79,090,461
Gross Profit		7,033,756		21,718,759		76,023,636		80,288,758
Operating Expenses
Selling, General and Administrative Expenses		10,848,029		8,922,627		39,916,518		29,036,962
Professional Services		1,115,457		1,112,975		3,558,501		6,722,554
Loss on Impairment		1,810,890		8,011,405		1,801,740		8,011,405
Salaries		6,561,800		5,292,996		23,883,354		20,990,290
Stock Based Compensation		2,952,669		883,890		3,574,831		2,672,713
Total Operating Expenses		23,288,845		24,223,893		72,734,944		67,433,924
Income from Operations		(16,255,089)		(2,505,134)		3,288,692		12,854,834
Other Income (Expense)
Interest Expense, net		(8,112,391)		(6,827,557)		(32,069,082)		(30,139,645)
Unrealized Gain (Loss) on Derivative Liabilities		1,384,228		(9,690,200)		15,870,233		18,414,760
Other Loss		68,400		3,736		68,400		24,136
Loss on Business Disposition		(1,968,807)		(4,684,366)		(1,968,807)		(4,684,366)
Unrealized Gain (Loss) on Investments		–		3,083		1,816		(39,270)
Total Other Income (Expense)		(8,628,570)		(21,195,304)		(18,097,441)		(16,424,385)
Pre-Tax Net Income (Loss)		(24,883,659)		(23,700,438)		(14,808,749)		(3,569,551)
Provision for Income Taxes		4,494,049		3,638,695		19,740,595		14,898,064
Net Income (Loss)	$	(29,377,708)	$	(27,339,133)	$	(34,549,344)	$	(18,467,615)

Less: Accumulated Preferred Stock Dividends for the Period		(1,541,341)		(2,508,677)		(8,154,993)		(7,802,809)
Net Income (Loss) Attributable to Common Stockholders	$	(30,919,049)	$	(29,847,810)	$	(42,704,337)	$	(26,270,424)

Earnings (Loss) per Share Attributable to Common Stockholders
Basic Earnings (Loss) per Share	$	(0.43)	$	(0.57)	$	(0.66)	$	(0.49)
Diluted Earnings (Loss) per Share	$	(0.43)	$	(0.57)	$	(0.66)	$	(0.49)

Weighted Average Number of Shares Outstanding – Basic		71,680,200		53,637,003		64,535,245		53,637,003
Weighted Average Number of Shares Outstanding – Diluted		71,680,200		53,637,003		64,535,245		53,637,003
Comprehensive Income (Loss)	$	(29,377,708)	$	(27,339,133)	$	(34,549,344)	$	(18,467,615)

MEDICINE MAN TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Periods Ended December 31, 2023 and 2022
Expressed in U.S. Dollars

	For the Twelve Months Ended
	December 31,
	2023		2022
	(Audited)		(Audited)
Cash Flows from Operating Activities:
Net Income (Loss) for the Period	$	(34,549,344)	$	(18,467,615)
Adjustments to Reconcile Net Income (Loss) to Cash for Operating Activities
Depreciation & Amortization		20,933,541		10,660,172
Non-Cash Interest Expense		4,024,604		4,118,391
Impairment of Goodwill		1,801,740		8,011,405
Non-Cash Lease Expense		7,648,531		3,910,679
Deferred Taxes		(2,090,967)		502,070
Loss on Disposition of Business Units		1,968,807		4,684,369
Change in Derivative Liabilities		(15,870,233)		(18,414,760)
Amortization of Debt Issuance Costs		1,686,049		1,686,048
Amortization of Debt Discount		8,523,493		7,484,613
(Gain) Loss on Investments, net		(1,816)		39,270
Stock Based Compensation		3,590,473		812,073
Changes in Operating Assets & Liabilities (net of Acquired Amounts):
Accounts Receivable		927,259		(105,185)
Inventory		4,571,069		789,399
Prepaid Expenses & Other Current Assets		1,579,349		(2,770,179)
Other Assets		263,419		(248,682)
Change in Operating Lease Liabilities		(7,498,128)		(13,113,041)
Accounts Payable & Other Liabilities		(3,241,850)		11,845,245
Income Taxes Payable		17,934,967		5,270,074
Net Cash Provided by (Used in) Operating Activities		12,200,963		6,694,346

Cash Flows from Investing Activities:
Collection of Notes Receivable		11,944		–
Cash Consideration for Acquisition of Business, net of Cash Acquired		(15,834,378)		(58,981,226)
Purchase of Fixed Assets		(7,865,654)		(14,007,892)
Purchase of Intangible Assets		(2,750,000)		–
Investment in Private Entity		–		(2,000,000)
Net Cash Provided by (Used in) Investing Activities		(26,438,088)		(74,989,118)

Cash Flows from Financing Activities:
Payment on Notes Payable		(5,354,218)		(134,498)
Proceeds from Issuance of Common Stock		–		978,308
Payment for Statutory Withholdings on RSU		(108,978)		–
Net Cash Provided by (Used in) Financing Activities		(5,463,196)		843,810

Net (Decrease) in Cash & Cash Equivalents		(19,700,321)		(67,450,962)
Cash & Cash Equivalents at Beginning of Period		38,949,253		106,400,216
Cash & Cash Equivalents at End of Period	$	19,248,932	$	38,949,253

Supplemental Disclosure of Cash Flow Information:
Cash Paid for Interest	$	17,896,954	$	15,243,990
Cash Paid for Income Taxes		5,000,000		12,340,000

MEDICINE MAN TECHNOLOGIES, INC.
ADJUSTED EBITDA RECONCILIATION (NON-GAAP)
For the Periods Ended December 31, 2023 and 2022
Expressed in U.S. Dollars

	For the Three Months Ended				For the Twelve Months Ended
	December 31,				December 31,
	2023		2022		2023		2022
Net Income (Loss)	$	(29,364,680)	$	(27,339,133)	$	(34,549,344)	$	(18,467,615)
Interest Expense, net		8,112,391		6,827,557		32,069,082		30,139,645
Provision for Income Taxes		4,494,049		3,638,695		19,740,595		14,898,064
Other (Income) Expense, net of Interest Expense		516,180		14,367,747		(13,971,641)		(13,715,260)
Depreciation & Amortization		3,162,425		3,701,128		18,970,960		12,524,677
Earnings Before Interest, Taxes, Depreciation and
Amortization (EBITDA) (non-GAAP)	$	(13,079,635)	$	1,195,994	$	22,259,652	$	25,379,511
Non-Cash Stock Compensation		1,597,157		883,890		2,219,319		2,672,713
Deal Related Expenses		2,196,733		1,914,820		5,528,048		6,822,111
Capital Raise Related Expenses		1,779		(257,271)		38,559		533,958
Inventory Adjustment to Fair Market Value for
Purchase Accounting		5,792,488		–		5,792,488		6,541,651
One-Time Inventory Impairment		7,353,972		–		7,353,972		–
One-Time Goodwill Impairment		1,801,740		8,011,405		1,801,740		8,011,405
Severance		111,752		263,374		537,584		334,910
Retention Program Expenses		–		–		505,655		–
Employee Relocation Expenses		5,065		(3,750)		70,107		15,360
Pre-Operating & Dark Carry Expenses		2,663,824		1,027,738		2,663,824		1,027,738
One-Time Legal Settlements		1,204,058		440,000		1,204,058		440,000
Other Non-Recurring Items		1,304,501		(191,674)		3,436,773		230,858
Adjusted EBITDA (non-GAAP)	$	10,953,434	$	13,284,526	$	53,411,779	$	52,010,215
Revenue		43,324,815		40,147,287		172,447,786		159,379,219
Adjusted EBITDA Percent		25.3 %		33.1 %		31.0 %		32.6 %

View original content to download multimedia:https://www.prnewswire.com/news-releases/schwazze-announces-fourth-quarter-and-full-year-2023-financial-results-302101632.html

SOURCE Schwazze

Curaleaf Goes Global with Acquisition of Northern Green Canada

Posted on March 20, 2024March 20, 2024 by slightbourne@noblecapitalmarkets.com

In a major move to solidify its position as a global cannabis leader, Curaleaf Holdings has announced the acquisition of Northern Green Canada (NGC), a Canadian licensed producer with EU-GMP certification. This strategic deal provides Curaleaf with a crucial supply chain advantage as it expands into key international markets like Germany, Poland, the United Kingdom, Australia and New Zealand.

The cannabis industry is entering an exciting new phase of globalization and maturation. As more countries legalize and regulate medical and adult-use cannabis, massive investment opportunities are emerging for companies that can scale operations and establish early mover advantages in these blossoming markets.

Germany’s recent groundbreaking decision to legalize recreational cannabis has put the European Union’s biggest economy squarely in the spotlight. With over 80 million people, Germany represents a behemoth market opportunity that could push the broader European cannabis industry into an economic windfall. Securing NGC’s supply of high-quality EU-GMP certified flower puts Curaleaf in pole position as this enormously lucrative German market takes shape.

But Curaleaf’s ambitions extend far beyond Europe with this acquisition. NGC also has an established presence supplying the booming Australian and New Zealand markets, which are experiencing some of the highest rates of cannabis usage and sales growth worldwide. Cannabis spending in Australasia is projected to swell to over $6 billion by 2025 as new legal regimes open up access.

By vertically integrating NGC’s operations, Curaleaf can significantly increase margins on its international distribution while ensuring consistent supply of premium indoor flower to meet surging global demand. NGC’s facility also has abundant space certified for additional grow operations, giving Curaleaf tremendous ability to scale up production capacity as these markets expand.

For investors, this deal heralds an acceleration of Curaleaf’s transition into a true multinational cannabis titan with the reach, resources and efficiencies of scale to capitalize on emerging legal markets worldwide. The cannabis sector has already witnessed multiple cross-border merger & acquisition deals in recent years as companies jockey for position. Curaleaf’s acquisition of NGC represents one of the most ambitious international cannabis plays yet attempted.

While recent years have seen valuations in the cannabis space take a hit amidst an extended cash crunch, this period of consolidation sets the stage for the industry’s impending global expansion. The total addressable market size for legal cannabis could eventually reach into the hundreds of billions as more national markets open up. Companies that can successfully execute on international growth strategies and stake out early footholds globally stand to reap immense rewards in the years ahead.

Investors attuned to this next wave of cannabis market maturation would be wise to seek out multi-national operators building vertically integrated cultivation, processing and distribution channels to capture value across the supply chain. Curaleaf’s acquisition of NGC shows it is positioning to ride this rising tide as the cannabis industry transitions to a new era of globalization.

Release – Schwazze sets fourth quarter and full year 2023 conference call for march 27, 2024 at 5:00 P.M. ET

Posted on March 13, 2024March 13, 2024 by aweinsoff@channelchek.com

Research News and Market Data on SHWZ

March 12, 2024

PDF Version

DENVER, March 12, 2024 /CNW/ – Medicine Man Technologies, Inc., operating as Schwazze, (OTCQX: SHWZ) (Cboe: SHWZ) (“Schwazze” or the “Company”), will host a conference call on Wednesday, March 27, 2024 at 5:00 p.m. Eastern time to discuss its financial and operational results for the fourth quarter and full year ended December 31, 2023. The Company’s results will be reported in a press release prior to the call.

The Schwazze management team will host the conference call, followed by a question-and-answer period. Interested parties may submit questions to the Company prior to the call by emailing ir@schwazze.com.

Date: Wednesday, March 27, 2024
Time: 5:00 p.m. Eastern time
Toll-free dial-in: (888) 664-6383
International dial-in: (416) 764-8650
Conference ID: 38840334
Webcast: SHWZ Q4 & FY 2023 Earnings Call

The conference call will also be broadcast live and available for replay on the investor relations section of the Company’s website at https://ir.schwazze.com.

Toll-free replay number: (888) 390-0541
International replay number: (416) 764-8677
Replay ID: 840334

If you have any difficulty registering or connecting with the conference call, please contact Elevate IR at (720) 330-2829.

About Schwazze

Schwazze (OTCQX: SHWZ) (Cboe: 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.

Investor Relations Contact

Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
ir@schwazze.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/schwazze-sets-fourth-quarter-and-full-year-2023-conference-call-for-march-27-2024-at-500-pm-et-302087190.html

SOURCE Schwazze

Schwazze (SHWZ) – A Management Change

Posted on February 26, 2024February 26, 2024 by cpereira@noblefcm.com

Monday, February 26, 2024

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, 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.

CEO Steps Away. Friday, Schwazze announced Nirup Krishnamurthy’s resignation as Schwazze Chief Executive Officer and as a member of the Board of Directors, effective February 20, 2024, due to personal reasons. In his place, Forrest Hoffmaster, the Company’s Chief Financial Officer, has been appointed to the additional role of interim CEO.

Forrest Hoffmaster. Mr. Hoffmaster joined the Company in January 2023, bringing over 30 years of executive experience in finance and operations for both public and private companies. Prior to Schwazze, Mr. Hoffmaster served as CEO of New Seasons Market, a specialty gourmet food retailer, where he navigated the company through one of the most disruptive periods in the retail grocery industry. Under his leadership, Mr. Hoffmaster implemented a focused growth and cost optimization program, enabling the company to grow EBITDA by over 30% in two years. Prior to New Seasons Market, Forrest held leadership positions with other leading grocers, including Whole Foods Market and H-E-B.

Get the Full Report

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 (SHWZ) – Staying the Course

Posted on November 16, 2023November 16, 2023 by cpereira@noblefcm.com

Thursday, November 16, 2023

Joe Gomes, 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.

3Q23 Results. Revenue of $46.7 million was up 8.2% y-o-y and in-line with our $47 million estimate. Adjusted EBITDA totaled $14.1 million and the Company generated $6.9 million of CFFO. The bottom line was impacted by a number of one-time impacts, which resulted in a $1.9 million loss, or a loss of $0.03/sh. We had forecast a $7.1 million loss, or a loss of $0.10/sh.

Light. The overall environment remains challenged, whether due to supply, less demand or increased competition, but there are pockets of light suggesting we should see incremental improvement in the environment over time. Schwazze continues to stay the course and we expect them to come out of the current malaise a stronger, better positioned company.

Get the Full Report

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Release – Schwazze Sets Third Quarter 2023 Conference Call for November 14, 2023 At 5:00 P.M. ET

Posted on October 30, 2023October 30, 2023 by aweinsoff@channelchek.com

Research News and Market Data on SHWZ

October 30, 2023

PDF Version

DENVER, Oct. 30, 2023 /CNW/ – Medicine Man Technologies, Inc., operating as Schwazze, (OTCQX: SHWZ) (NEO: SHWZ) (“Schwazze” or the “Company”), will host a conference call on Tuesday, November 14, 2023 at 5:00 p.m. Eastern time to discuss its financial and operational results for the third quarter ended September 30, 2023. The Company’s results will be reported in a press release prior to the call.

Date: Tuesday, November 14, 2023
Time: 5:00 p.m. Eastern time
Toll-free dial-in: (888) 664-6383
International dial-in: (416) 764-8650
Conference ID: 64450430
Webcast: SHWZ Q3 2023 Earnings Call

The conference call will also be broadcast live and available for replay on the investor relations section of the Company’s website at https://ir.schwazze.com.

Toll-free replay number: (888) 390-0541
International replay number: (416) 764-8677
Replay ID: 450430

If you have any difficulty registering or connecting with the conference call, please contact Elevate IR at (720) 330-2829.

About Schwazze

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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/schwazze-sets-third-quarter-2023-conference-call-for-november-14-2023-at-500-pm-et-301970632.html

SOURCE Schwazze

Release – Schwazze Announces Launch of Standing Akimbo Hotspot, A New Store Within A Store Concept In Fort Collins

Posted on October 23, 2023October 23, 2023 by aweinsoff@channelchek.com

Research News and Market Data on SHWZ

October 20, 2023

PDF Version

FORT COLLINS, Colo., Oct. 20, 2023 /CNW/ – Medicine Man Technologies, Inc., operating as Schwazze, (OTCQX: SHWZ) (NEO: SHWZ) (“Schwazze” or the “Company”), today announced a first of its kind store-within-a-store model in Fort Collins, combining a Star Buds neighborhood dispensary with a Standing Akimbo Hotspot, bringing together two innovative retailers that operate within the trusted Schwazze house of brands.

Star Buds, established in 2013, has a standing reputation for the widest selection, top quality products, and stellar service. Star Buds’ treasure chest of offerings along with the Gratify Rewards Program allows shoppers to save on every purchase across a huge selection of recreational products.

Standing Akimbo, established in 2015, is Colorado’s most recognized medical cannabis dispensary. Located in Denver and Colorado Springs, its team of passionate customer service representatives celebrate Colorado’s medical marijuana market through a warehouse service model with value prices.

Now, Standing Akimbo has partnered with Star Buds in Fort Collins to operate Colorado’s first store-within-a-store model.

Collin Lodge, President of Retail for Schwazze, believes the dual banner strategy introduces a new level of convenience that the cannabis market has not seen. “Star Buds and Standing Akimbo are two trusted brands. When we surveyed our Northern Colorado customers, they wanted both Star Buds and Standing Akimbo. Our new Fort Collins store-within-a-store model is just a lesson in listening to our customer base. This new dispensary concept is all about meeting the customer where they want us to be.”

Star Buds Fort Collins is open from 8:00 AM – 10:00 PM seven days a week. Stop by Star Buds with the new Standing Akimbo Hotspot in Fort Collins, at 5740 S College Ave UNIT A, Fort Collins, CO 80525 or visit www.starbudscolorado.com and standingakimbo.com for more information.

About Schwazze

Forward-Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,” “continue,” “predicts,” or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses, including the acquisition described in this press release, and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, and (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

View original content to download multimedia:https://www.prnewswire.com/news-releases/schwazze-announces-launch-of-standing-akimbo-hotspot-a-new-store-within-a-store-concept-in-fort-collins-301963604.html

SOURCE Schwazze

Senate Poised to Advance Landmark Marijuana Banking Reform

Posted on September 27, 2023September 27, 2023 by slightbourne@noblecapitalmarkets.com

A long-awaited bill that could unlock banking access for the marijuana industry is slated for a historic Senate vote this week. The Secure and Fair Enforcement (SAFE) Banking Act aims to allow financial institutions to work with state-legal cannabis businesses without facing federal punishment.

The Senate Banking Committee will vote Wednesday on whether to advance the bill to the full chamber floor. If approved as expected, it would mark the first time the SAFE Banking Act has ever cleared the Senate.

The bill takes aim at a major hurdle facing the growing marijuana industry – lack of access to basic banking and financial services. Currently, most banks and credit unions refuse to handle cannabis company accounts due to marijuana’s federal prohibition as an illegal Schedule 1 drug.

That forces many marijuana firms to operate entirely in cash, creating public safety issues and barriers to business expansion. The SAFE Banking Act provides legal cover for financial institutions to work with state-approved cannabis companies.

The bipartisan bill is sponsored by Senators from both parties representing states with legal marijuana markets. It previously passed the Democrat-led House seven times, but stalled each time in the Senate. Wednesday’s vote would break the logjam.

If enacted into law, industry analysts project the SAFE Banking Act could catalyze billions in new capital investment into the marijuana sector. Cannabis companies would gain access to basic banking and credit services to help fuel their growth.

Take a moment to look at Schwazze, a leading vertically integrated cannabis holding company with a portfolio spanning cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line.

However, the bill still faces an uphill path to final passage. It must clear both the full Senate and the Republican-controlled House, where some members remain opposed to marijuana reform. But the historic committee vote marks a major milestone after years of lobbying from cannabis businesses.

The SAFE Banking Act underscores marijuana’s transition from the black market to a legitimate, multibillion-dollar American industry. Medical and recreational cannabis is now legal in 39 states, but lack of banking access continues to hinder the sector’s expansion and safety.

Wednesday’s vote is a significant step toward providing financial access and security for state-compliant marijuana companies. Passage would enable the cannabis industry to further emerge from the shadows.

Schwazze (SHWZ) – Insider Adding shares

Posted on September 8, 2023September 8, 2023 by cpatches

Friday, September 08, 2023

Joe Gomes, 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.

Insider Buying. From August 15th through August 26th, Schwazze Director Jeff Garwood purchased 128,155 SHWZ shares on the open market at prices ranging from $0.65 to $0.75 per share. The additional purchases increased Mr. Garwood’s overall Schwazze common stock ownership to 452,783 shares. We positively view insiders putting their own money into share purchases.

Garwood Background. Mr. Garwood joined the Schwazze Board in March 2021, Mr. Garwood is the founder and is currently the managing member of Liberation Capital, LLC, a private equity fund that is focused on providing modular, repeatable waste to value project finance. Prior to Liberation Capital, Mr. Garwood held a variety of senior leadership positions with General Electric including President and CEO of GE Water and Process Technologies, and President and CEO of GE Fanuc. He was also President of Garrett Aviation, and worked for numerous years at the strategic consulting firm McKinsey and Company.

Get the Full Report

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Bipartisan Marijuana Banking Bill Could Pass Senate Within Weeks

Posted on September 7, 2023September 8, 2023 by slightbourne@noblecapitalmarkets.com

A bipartisan bill that would allow cannabis businesses access to banking services could see action in the Senate within the next six weeks, according to lawmakers.

The Secure and Fair Enforcement (SAFE) Banking Act has been a priority for advocates seeking to bring the marijuana industry into the financial mainstream. Currently, most banks will not work with cannabis companies due to federal prohibition.

Senate Banking Committee Chairman Sherrod Brown (D-OH) said he has discussed plans to move the bill forward soon with Majority Leader Chuck Schumer (D-NY). Schumer has also signaled marijuana banking reform is a priority issue requiring bipartisan cooperation.

“We want to get SAFE Banking. We want to do all that in the next six weeks,” Brown told reporters this week. The bill currently has 42 cosponsors split between Republicans and Democrats.

The SAFE Banking Act would protect financial institutions from federal penalties for working with state-legal marijuana businesses. Supporters say it would provide critical access to essential banking services that cannabis companies currently lack.

Take a moment to learn about Schwazze, a leading vertically integrated cannabis holding company with a portfolio spanning cultivation, manufacturing, dispensary operations and a nutrient line.

Click here for company information, including equity research from Noble Capital Markets.

However, some Senate Democrats want to amend Section 10 of the bill, believing it could undermine banking regulations. Republicans have resisted those changes, and it’s unclear if a compromise can be reached.

The lead GOP cosponsor, Senator Steve Daines (R-MT), believes the votes are already lined up to pass the current version of SAFE Banking if brought to the floor.

The bill’s progress has major implications for small cannabis businesses that have struggled without proper banking access. Industry leaders say the measure is urgently needed and could determine whether many companies survive or not.

Proper banking would help small marijuana firms process transactions, obtain financing, pay taxes, and gain legitimacy. This could level the playing field against larger cannabis corporations.

While the path forward contains hurdles, the increasing bipartisan momentum behind marijuana banking reform suggests historic progress could be on the horizon for the growing industry after years of being denied equal services.

Heightened Anticipation in Cannabis Industry

Posted on August 30, 2023September 1, 2023 by phoffman@channelchek.com

U.S. Department of Health Recommends Marijuana Reclassification – Boosts Cannabis Stocks

A letter with far-reaching implications for the cannabis industry has prompted double-digit gains for companies in the marijuana industry, both large and small. Making further headway toward a less restrictive federal government, the U.S. Department of Health and Human Services (HHS) has taken another step in reshaping the legal landscape of cannabis in the United States. In the latest move, as reported by Bloomberg News, the HHS has urged for the relaxation of restrictions on marijuana, this marks a potential turning point for the developing cannabis industry.

A Letter with Far-Reaching Implications

The letter written by U.S. Assistant Secretary for Health, Rachel Levine, to Anne Milgram, the Administrator of the Drug Enforcement Administration (DEA), has heightened anticipation for meaningful changes in marijuana’s classification. Currently categorized as a Schedule I drug under the Controlled Substances Act, marijuana’s potential reclassification to Schedule III, as proposed by Levine, could have far-reaching implications.

Divergent State Laws and Federal Stance

The ongoing contradiction between federal and state marijuana laws has long posed challenges for both cannabis businesses and users. Although around 40 U.S. states have embraced various forms of marijuana legalization, the federal stance remains staunchly prohibitive, creating a perplexing legal labyrin

A Presidential Push for Review

The DEA’s confirmation of receiving the HHS letter aligns with President Joe Biden’s call for a comprehensive review of marijuana’s classification. The administration’s objective to base its decisions on evidence and expert evaluations underscores a commitment to an impartial and well-informed process.

White House spokesperson Karine Jean-Pierre emphasized, “The administration’s process is an independent process led by HHS, led by the Department of Justice and guided by evidence … we will let that process move forward.”

Market Reaction and Future Prospects

The market response to this potentially pivotal development is what one might expect. Medicine Man Technologies, operating under the name Schwazze (SHWZ) is a vertically integrated cannabis company with roots in Colorado. Schwazze stock price jumped 18% on the news. Jushi (JUSHF) is a premium brand provider of cannabis products operating in Florida, Ohio, and Colorado. Jushi Holdings Inc. rose 34% once word of the letter spread through the markets. Charlottes Web (CWBHF), another Colorado-based company involved in farming, manufacturing, marketing, and selling hemp-derived cannabidiol (CBD) wellness products, was lifted by more than 12%.

Take a moment to learn more about Schwazze, a leading vertically integrated cannabis holding company with a portfolio consisting of top-tier licensed brands spanning cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line.

Click here for company information, including equity research from Noble Capital Markets.

The sharp reaction reflects tangible market optimism regarding the potential reshaping of the legal framework surrounding cannabis.

DEA’s Next Steps

The DEA, wields the final authority to determine drug scheduling under the Controlled Substances Act, it is set to initiate a comprehensive review process. HHS’s scientific and medical evaluation will serve as a crucial input in this review, potentially leading to a revision in marijuana’s classification.

Awaiting Further Insights

As this significant reevaluation unfolds, industry stakeholders, advocates, and the general public await further insights into the potential impacts of any regulatory shift. The eventual outcome could mark a defining moment in the trajectory of cannabis legalization, and ability for companies in the industry to have all the advantages non-marijuana companies enjoy.

The evolving dynamics in the cannabis sector warrant close observation by interested investors as the regulatory landscape continues to transform.

Paul Hoffman

Managing Editor, Channelchek

Source

https://www.reuters.com/business/healthcare-pharmaceuticals/hhs-official-calls-move-marijuana-lower-risk-drug-category-bloomberg-news-2023-08-30/

Schwazze (SHWZ) – Navigating Through Industry Shoals

Posted on August 14, 2023August 14, 2023 by cpereira@noblefcm.com

Monday, August 14, 2023

Joe Gomes, 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.

2Q Results. Schwazze reported revenue of $42.4 million, down from last year’s $44.3 million. We had estimated revenue of $44 million. Schwazze reported a net loss, before preferred dividends, of $6.6 million, compared to net income of $33.8 million last year, which was impacted by unrealized derivative gains. After preferred dividends, net loss was $8.96 million, or a loss of $0.15/sh, versus net income of $32.1 million, or $0.24/sh, last year. Adjusted EBITDA was $13.8 million, or a margin of 32.6%, compared to $15 million, or 33.9%, last year. We had projected a $3.4 million net loss, or $0.06/sh.

Playbook Protecting Margins. By implementing its “go deep” retail strategy in its Colorado and New Mexico markets, Schwazze has been able to capture market share while cost optimization and operating efficiencies are enabling the Company to protect margins, as seen in 2Q23 gross margin of 57.9% up from 56.8% in 2Q22.

Get the Full Report

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Release – Schwazze Completes Acquisiton to Manage Assets of New Mexico Cannabis Operator, Everest Apothecary, Inc.

Posted on June 5, 2023June 5, 2023 by aweinsoff@channelchek.com

Research News and Market Data on SHWZ

June 5, 2023

NEO: SHWZ
OTCQX: SHWZ

Acquisition Increases Schwazze’s New Mexico Retail Store Count to 32 and
Provides Expanded Coverage Throughout State

DENVER, June 5, 2023 /CNW/ – Medicine Man Technologies, Inc., operating as Schwazze, (OTCQX: SHWZ) (NEO: SHWZ) (“Schwazze” or the “Company”), announced it has acquired certain assets of Sucellus, LLC, pursuant to which the Company will manage Everest Apothecary, Inc. (“Everest“), a New Mexico not-for-profit corporation. The transaction includes retail dispensaries, cultivation, and manufacturing facilities.

The acquisition of Everest increases the Company’s retail consumer base and furthers Schwazze’s growth strategy in the New Mexico market. Upon closing, Schwazze’s New Mexico operations will include 32 dispensaries, four cultivations, two manufacturing facilities and over 400 employees statewide.

The Everest brand complements Schwazze’s existing retail brand in New Mexico, R. Greenleaf. Each serves a unique demographic, and both retail banners will continue to operate in the state.

“This acquisition fits well within our growing portfolio of retail brands alongside R.Greenleaf, and firmly positions us as a top operator in the New Mexico market,” said Nirup Krishnamurthy, President of Schwazze.

“Collaborating on Schwazze’s operating playbook, we look forward to working with the Everest team members to continue to support the Everest customers with outstanding service and an even wider selection of quality products throughout the entire state. These really are two great teams coming together as one,” said Ken Diehl, New Mexico Division President of Schwazze.

Established in 2016, Everest is a New-Mexico-based licensed medical and recreational cannabis provider that consists of 14 dispensaries, one cultivation facility and one manufacturing plant. The dispensaries are in Albuquerque, Santa Fe, Las Cruces, Los Lunas, Sunland Park, Belen, and Texico. Everest’s cultivation and manufacturing facilities are both located in Albuquerque.

Since April 2020, Schwazze has acquired, opened, or announced the planned acquisition of 60 cannabis retail dispensaries (bannered as Star Buds, Emerald Fields, R. Greenleaf, Standing Akimbo, and Everest) as well as six operating cultivation facilities and three manufacturing plants across Colorado and New Mexico. In May 2021, Schwazze announced its Biosciences division, and in August 2021, it commenced home delivery services in Colorado.

ABOUT SCHWAZZE

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.

Forward-Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “may,” “will,” “could,” “would,” “should,” “expect,” “intends,” “plans,” “strategy,” “prospects,” “anticipate,” “believe,” “approximately,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” or the negative of these terms or other words of similar meaning in connection with a discussion of future events or future operating or financial performance, although the absence of these words does not necessarily mean that a statement is not forward-looking. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) regulatory limitations on our products and services and the uncertainty in the application of federal, state, and local laws to our business, and any changes in such laws; (ii) our ability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (iii) our ability to identify, consummate, and integrate anticipated acquisitions; (iv) general industry and economic conditions; (v) our ability to access adequate capital upon terms and conditions that are acceptable to us; (vi) our ability to pay interest and principal on outstanding debt when due; (vii) volatility in credit and market conditions; (viii) the loss of one or more key executives or other key employees; and (ix) other risks and uncertainties related to the cannabis market and our business strategy. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements because of new information, future events or otherwise except as required by law.

View original content to download multimedia:https://www.prnewswire.com/news-releases/schwazze-completes-acquisition-to-manage-assets-of-new-mexico-cannabis-operator-everest-apothecary-inc-301842392.html

SOURCE Medicine Man Technologies, Inc.