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Schwazze Terminates Deals To Acquire Two Cannabis Businesses

(RTTNews) - Schwazze, formerly operating as Medicine Man Technologies Inc., said it has terminated the deals to acquire two marijuana businesses in Colorado due to key business and valuation issues.

The vertically-integrated cannabis company terminated the acquisition of Dabble Extracts, a cannabis concentrates company, and Los SueA±os Farms, an outdoor and greenhouse cannabis cultivator.

Schwazze also provided a business update and shared the pro forma financial results reflecting its acquisition of Mesa Organics, which closed on April 20, 2020. The company noted that in its pro forma 2019 income statement, Mesa Organics was accretive to Schwazze by $0.09 per share.

Schwazze added it believes the business will continue to be accretive to its overall platform.

Schwazze noted that following the signing of Colorado House Bill Colorado 19-1090, it moved forward on the numerous term sheets with Colorado cannabis operators, and completed limited due diligence.
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