Schwazze Completes Acquisition of Five Remaining Star Buds Dispensaries in Colorado Colorado Cannabis Leader’s Retail Footprint Now Expands to 17 Locations Across the Denver Metro and Southern Region of the State Pro Forma Revenue for Schwazze and its Two Acquisitions (Mesa Organics and Star Buds) in 2020 is Estimated at $95 Million
DENVER, March 03, 2021–(BUSINESS WIRE)–Schwazze, formerly operating as Medicine Man Technologies Inc. (OTCQX: SHWZ) (“Schwazze” or “the Company”), today announced that it has closed on the asset purchase of the five Star Buds dispensaries located in Colorado that it had not already previously acquired. The acquired dispensaries are located in Aurora (2), Denver, Louisville, and Westminster.
Total consideration was approximately $72.3 million, consisting of $27.5 million in cash, $26.9 million in sellers’ notes, and $17.9 million in Preferred Stock (at a price of $1,000 per share).
Star Buds is a recognized and successful retail cannabis operator in the United States and home to a wide selection of strains, concentrates, edibles, tinctures, and best-in-class customer service. Inclusive of this transaction, Schwazze now owns and operates all 13 Star Buds locations in Colorado and its retail footprint now includes 17 dispensary locations in the Denver metro and southern