State health officials have dropped an appeal of a Tallahassee judge’s ruling and agreed to allow Florida’s largest medical marijuana operator to open more dispensaries than a state law allowed.
Quincy-based Trulieve challenged a limit on the number of storefronts that was included in a 2017 law aimed at carrying out a 2016 constitutional amendment that broadly legalized medical marijuana.
The cap, initially set at 25 dispensaries for each operator, gradually increases as the number of eligible patients in a statewide database increases. The cap, now at 35, is slated to end in April 2020.
If we take a brief look back at history it’s clear that cannabis has survived several societal reputations. What was once known as “Devil’s Lettuce,” went on to be a pop culture symbol of Bob Marley. Today, the shift of the plant’s perception is a direct correlation to recent mass legalization of the substance across the United States. Data shows that consumption is skyrocketing in states like California – but this should come as no surprise. West Coast moms, dads, students, you name it, can all take a walk down the block to pick up milk, eggs and flower.
While it’s nearly impossible to determine the quality or specifications of a federally unregulated substance, any consumer who’s purchased cannabis at a dispensary will attest to a completely different buying experience. Along with legalization came strict policies and regulations that ensure shoppers are aware of what they are buying, what’s inside of it and exactly how it will make them feel. For the first time ever, shopping for cannabis is comparable to shopping for vitamins. Name your problem, find your solution. Long gone are the days of the “stoner” who smokes a joint to simply get high. Cannabis is now for everyone, can be consumed in any form, and businesses are taking notice.
As consumption becomes more normalized, the average consumer skews farther and farther away from preconceived stereotypes. Studies are revealing that today’s consumers have very high household incomes and are more likely to have master’s degrees. This means that some of the most successful professionals around us are a part of a “shadow market” of cannabis consumers. But why are America’s executives switching over to the plant?
Published at Fri, 19 Jul 2019 16:38:44 +0000
Flowr Corp (CAN:FLWR / US:FLWPF) shares are flying today.
They rocketed up 20% within minutes of the start of the trading day.
But the reason why might surprise a lot of investors.
It wasn’t exactly good news that sent shares soaring.
It’s that the news was just not completely awful.
And this trend – where cannabis stocks jump on not-as-bad-as-expected news – signals the downturn in cannabis stocks is coming to an end.
Here’s what I mean.
Flowr Corp is a licensed Canadian cannabis cultivator that builds and operates cultivation facilities.
It holds itself out as an innovator in cultivation technology and processes.
It’s on the bigger side of Canadian cannabis it. It has a market value of more than C$400 million.
And it recently announced it was going to raise C$125 million in capital to fund the acquisition of Holigen Holdings (which Flowr already owns 19.9% stake in). Holigen is an outdoor cultivator with potential partnerships for distribution in Germany, Poland, UK, Ireland and Australia.
The last part – the raising of an additional C$125 million in capital – is at the center of the Flowr’s recent rally.
Flowr first announced the raise near the end of June.
There was no specific price for the offering though where it would be at C$6.50 a share or something like that (it was trading for C$7.10 before the announcement).
Instead, Flowr stated:
“The offering is expected to be priced in the context of the market, with the final terms of the offering to be determined at the time of pricing.”
The key phrase is: in the context of the market.
Flowr stated today:
That’s a signal to big money investors and bankers they can sell out aggressively and easily buy back into the private placement (which is normally discounted to the market price).
That’s exactly what happened too.
Flowr shares were trading at C$7.10 a share before the offering was announced.
Flowr shares dropped 19% at the close of trading on the day the offering was announced.
Then they kept falling steadily until hitting new low yesterday.
At the bottom Flowr shares fell 44% in four weeks because of this offering announcement.
Today though, Flowr cancelled the offering.
Flowr stated today:
“The company is not proceeding with the offering due to prevailing market conditions, which were not conducive to the completion of the offering on terms that would be in the best interest of Flowr’s current shareholders. Flowr will continue to monitor market conditions as it evaluates options to drive long-term growth.”
Typically, this type of announcement is bad news.
It signals there is not enough institutional investor interest to fund the capital raise.
But in this case, despite the relatively bad news that there wasn’t enough demand at current valuation, Flowr shares rocketed higher.
Flowr shares jumped 20% within minutes of the open.
All in all, this is a good and bad news situation.
The bad news is that there wasn’t enough demand to fill the offering even after a 44% drop in price.
The good news, for those of us watching the big picture in cannabis investing world, the fact that this bad news sent shares of a stock climbing is a very positive sign.
It says that current market expectations are too low for cannabis stocks and, when the rally does come, it’s going to be big.
Published at Fri, 19 Jul 2019 18:06:02 +0000
Utah on Friday awarded eight medical marijuana cultivation licenses to a mix of local and out-of-state businesses.
That’s two short of the 10 growers allowed under state law, but regulators are hoping to ensure a supply-and-demand balance.
“The decision to only award eight licenses was made to avoid an oversupply of product, while still maintaining a healthy diversity of cultivators for purposes of competition of product quality and patient pricing,” Andrew Rigby, director of the state’s medical cannabis and industrial hemp programs, said in a news release.
The winners included local greenhouse growers and medical marijuana cultivators with businesses in other states, such as Arizona-based multistate operator Harvest Health & Recreation.
“Half of (the winners) are owned by out-of-state concerns who have Utah ties,” Jack Wilbur, a public information specialist for the Utah Department of Agriculture and Food, wrote in an email to Marijuana Business Daily.
State regulators recently dropped a residency requirement, saying they didn’t believe it could be legally upheld.
Wilbur added the state won’t release additional information about the winners until licenses officially are issued later this month or next.
He noted that the state still needs to finish background checks and review grower operation plans.
A total of 81 applicants competed for the potentially lucrative licenses.
The eight cultivators selected for Utah’s MMJ program, which is expected to launch sometime next year, are:
- Dragonfly Greenhouse
- Harvest of Utah
- Oakbridge Greenhouses
- Standard Wellness Utah
- True North of Utah
- Tryke Companies Utah
- Wholesome Ag
- Zion Cultivars
Christine Stenquist, director and founder of advocacy group Together for Responsible Use and Cannabis Education, or TRUCE, told the Associated Press she is concerned that eight cannabis growers won’t be able to fulfill the MMJ demand in Utah.
Jeff Smith can be reached at [email protected]
Published at Fri, 19 Jul 2019 21:57:01 +0000
It was another very active week in the cannabis sector. In the U.S., Congress continues its hearings aimed at legalizing cannabis in the U.S. at the national level. Parallel to this, the FDA is signaling it’s ready to move toward opening up the CBD market in the U.S. nationally. The Seed Investor shared some thoughts on both of those big stories.
In Canada, more companies were reporting earnings. On the back of strong earnings from an extraction leader, we looked at where investors might find the most value in this niche.
For investors wondering when pot stocks will begin their next run, we offered something for you. At the end of the week, The Seed Investor took a look at “a tried-and-tested bottom indicator.” In relation to this, we also looked at interesting moves in the share prices of a couple of the bigger names in Canadian cannabis (no, not CannTrust).
Monday, the week began with a flurry of industry news. Aurora Cannabis announced two outdoor growing licenses. Atlantic Canada pot giant, Organigram reported its third quarter results. Harvest One reported a new cannabis supply agreement. Aleafia Health had its outdoor cultivation license expanded up to 1.1 million sq. ft. Columbia Care announced trading on the OTCQX Market. Auxly Cannabis reported the opening of its flagship retail cannabis store for the province of Saskatchewan.
The Seed Investor also pointed to a discouraging trend in the Canadian cannabis industry. Since adult use cannabis has been legalized, access to medicinal cannabis for Canadians has actually gotten significantly worse.
Tuesday there was lots more industry news. Canopy Rivers reported 4th quarter/fiscal 2019 financial results. TILT Holdings signed a term sheet for up to US$125 million in funding. Tetra Bio-Pharma announced its Hemp Energy drink was hitting store shelves in over 500 Quebec grocery and convenience stores. Canadian extraction leader, Valens GroWorks reported some impressive numbers in its Q2 results. Canada’s other extraction leader, MediPharm Labs put out a corporate update. Rapid Dose Therapeutics announced a US$2.1 million distribution agreement.
As Canadian companies are reporting results, The Seed Investor was looking at Canada’s Fastest-Growing Cannabis Leader. The province of Alberta boasts some impressive growth numbers in its cannabis retailing.
Wednesday, the big industry news definitely came from the U.S. Curaleaf Holdings acquired Grassroots, cementing its position as the world’s largest cannabis company by total revenues. Supreme Cannabis announced the acquisition of Truverra. Harvest One announced a supply agreement with GenCanna Global. Khiron Life Sciences received Colombia approval for 17 new cannabis strains. Choom Holdings reported the acquisition of a 19.9% interest in Coastal Green.
The Seed Investor was busy on both sides of the border. In the U.S., we noted how Curaleaf has already produced a genuine pot billionaire. We also examined a cash-rich private company in the U.S. and its “notable leadership”.
In Canada, we compared MediPharm Labs (CAN: LABS / US: MEDIF) and Valens GroWorks (CAN: VGW / US: VGWCF). It was our humble opinion that while both companies offered plenty of upside, MediPharm might be the best current value. [Editor’s note: MediPharm closed up 13.31% on Friday, up over 20% since the TSI article was written.]
Thursday was another full day for industry news. Choom Holdings reported the opening of its latest Alberta retail cannabis store. Aurora Cannabis announced it was the contract winner to supply medicinal cannabis to Italy. Origin House reported preliminary revenue of $21 million for Q2. Sunniva announced the receipt of a CAD$1 million deposit for its asset sale. MediPharm announced conditional approval to graduate to the TSX. Koios Beverage Corp reported test-batch production for its CBD-infused beverage. Neptune Wellness announced closing a US$41 million private placement. Flower One announced a deal with Deuces 22 to introduce its product line to Nevada. Blueberries Medical provided a major corporate update.
The Seed Investor also sounded a note of caution in the current push in Congress to legalize cannabis in the U.S. nationally. We pointed to three Republican Senators who could sink legalization – and how this could play to the advantage of Donald Trump.
The Seed Investor reported on FDA hearings to open up CBD commerce in the U.S. Critical here is whether the FDA continues to treat CBD (and regulate it) as “a drug”.
Then the Seed Investor pulled out its magnifying glass. We looked at the recent decision of Flowr Corp (CAN: FLWR / US: FLWPF) to withdraw an equity offering. Is the strong positive market reaction to this news sending a message to cannabis investors?
Last (but certainly not least), The Seed Investor noted we are nearing previous bottoms in the Canadian Marijuana Stock Index. The last time this happened, the Index soared by 65%. It may be too soon to call “a bottom” (mid-summer). But now is the time for investors to start tweaking their cannabis portfolios for what could be an explosive fall.
DISCLOSURE: Choom Holdings is a client of The Seed Investor.
Published at Fri, 19 Jul 2019 21:44:23 +0000
(This is an abridged version of a story that appears in the July issue of Marijuana Business Magazine.)
So, you’re starting a marijuana business or thinking about changing the name of your established cannabis company.
It’s not as simple as making a pun playing off marijuana or incorporating words such as “420,” “canna” or “green” into a name.
Any names being considered for a cannabis business should reflect the image the company hopes its customers associate with the firm.
Choosing the right name is trickier for a marijuana brand than for a traditional company because of the illegality of cannabis at the federal level in the United States.
There’s also the stigma attached to marijuana and the fact that legalized cannabis is a relatively new market.
“Like any newer category, there’s a little Wild West involved,” said Bill Winchester, president and chief creative officer of the marketing firm Lindsay, Stone & Briggs, which has offices in Madison, Wisconsin, and Minneapolis.
“As things mature, trademarking is going to become more important.
“Whether you want (your company’s name) to reinforce the stereotypes or lean away from them will become less of a personal preference and more of a business decision.”
And it won’t be easy.
“Naming is a hard thing to do … a lot harder than people think,” said Ron Silver, owner of Azuca, a New York-based company with a line of CBD-infused syrups and edibles.
According to cannabis branding experts who spoke with Marijuana Business Magazine, business owners trying to come up with names for MJ companies need to:
And, remember, working with a marketing/branding firm could be money well spent.
For an even deeper dive, check out a case study on creating a company name.
Published at Sat, 20 Jul 2019 14:00:57 +0000
Orchid Ventures, a California-based, multi-state cannabis brand, has entered into an agreement to purchase assets from GreenBloom Cannabis Co., a vertically integrated cannabis operator with five retail stores, two cultivation facilities, one distribution entity and six brands across Oregon and California.
Per the agreement, Orchid will acquire five of GreenBloom’s retail outlets, as well as two of GreenBloom’s cultivation facilities in Oregon and a cultivation and processing facility that is in development in California. Orchid will also acquire a wholesale and retail facility from GreenBloom, as well as a distribution facility. To cap off the deal, Orchid is also acquiring six of GreenBloom’s cannabis brands.
The total value of the transaction, which was set in motion on July 2, is estimated at more than $29 million.
Orchid, based in Irvine, Calif., launched in California and Oregon in 2017 with its flagship brand, Orchid Essentials. The brand’s vape products have gained a loyal consumer following, according to Orchid CEO Corey Mangold.
“Orchid’s products lines are currently sold in 350-plus dispensaries across California and Oregon and are handcrafted and designed for maximum flavor and overall enjoyment,” Mangold told Cannabis Business Times. “The company’s proven processes and passion for what it does carry through into its products.”
GreenBloom recognized the power of the Orchid brand, which attracted the company to the deal, according to GreenBloom Co-CEO George Mattia.
“My number one thing was Corey and his staff,” Mattia told Cannabis Business Times. “I’ve been carrying Orchid products in my stores since they came to Oregon. I think they’ll be one of the premier brands, if they’re not already. There aren’t really a lot of brands out there in the market nationally, and everyone is still trying to get used to this as we’re still in a new industry. Orchid was recognized. … That’s what made me attracted to it, is their customer loyalty.”
“We’ve proven that if we can be successful in Oregon—a state that’s already gone through price compression and consolidation—we can not only survive in other territories, but flourish.”
-Corey Mangold, CEO, Orchid Ventures
Orchid also shares GreenBloom’s overall goal to build a profitable company and create jobs for local communities.
“We’re after building a real team,” Mattia said. “Our goal is to make sure that every one of our assets is profitable, … [to] have good relationships, and just do good, honest business. That’s one of the main things that attracted me to the Orchid deal.”
The GreenBloom acquisition will allow Orchid to increase its cost of goods sold, streamline its supply chain in California and Oregon, and develop best practices and training protocols to aid in its brand expansion, Mangold said.
“California and Oregon are our home states and will continue to serve as the proving grounds and testing grounds for product and brand development, allowing us insight directly into retail through stores we’re acquiring through this transaction,” Mangold said. “The cultivation facilities are great revenue generators and also allow us to develop and test our own genetics and develop products that are truly differentiated.”
Being forged in the fires of Oregon has made Orchid resilient, Mangold added. “Oregon is a great state to be in because its market is seasoned and it’s highly competitive. We’ve proven that if we can be successful in Oregon—a state that’s already gone through price compression and consolidation—we can not only survive in other territories, but flourish.”
The ultimate goal, Mangold said, is to continue building multiple brands across multiple states—and, eventually, countries—in order to create a global cannabis brand.
Published at Fri, 19 Jul 2019 15:57:00 +0000
Cronos Group Inc. is a marijuana stock that operates as a diversified and vertically integrated cannabis company. This marijuana stock saw a rise in the shares by 12% since the beginning of June. This pot stock offers production and distribution platforms of medical marijuana, as well as cultivation of cannabis oil. The shares of this cannabis stock recently saw a sudden upswing in the market. The rise in the share value is accredited to both the broader market and the company’s main peers. The Cronos Group completely swayed over its rivals Canopy Growth, Aurora Cannabis and Aphria (APHA). Is This Marijuana Stock a Contender
Is This Marijuana Stock Back on The Rise
After investors saw this was a good marijuana stock to buy, the share started to soar. Cronos Group quickly became the subject of scorn. It was also labeled as “the most overvalued pot stock”. So understanding what happened that the shares of this pot stock saw an upswing is important. This cannabis stock’s performance in comparison to most of its peers can be attributed to the Wall Street action. Recently, Bank of America Merrill Lynch analyst Christopher Carey upgraded Cronos from a sell to a buy.
An additional reason for the increase could from a statement made by the CEO of the company Mike Gorenstein. The announcement was made at an event hosted by the Consumer Analyst Group of New York (CAGNY). He said that Cronos would “move aggressively into the U.S. hemp CBD market and indicated that action would be taken in the relatively near future”.
Will This Marijuana Stock Be A Buy Or a Sell
This is all that was needed to be heard by Bank of America’s Christopher Carey to change his tune on Cronos stock. Carey wrote to investors that Cronos entering the U.S. hemp CBD market would be a major catalyst for the stock. Thus, investors will probably soon be hearing more about Cronos’ plans to enter the hemp-derived CBD market in the United States.
The success of the Cronos Group is maintained by its big partner Altria. Altria who invested around $1.8 billion in Cronos in exchange for a 45% stake in the company. With, this big influx of cash the company would be able to execute its plans of expansion in the U.S. There is a high possibility that the company could heavily leverage its connection with Altria to launch hemp CBD products in the U.S. The long-term prospects for the company still appear to be quite good and it could be set to be a major player in the U.S. hemp market and the global cannabis market.
Published at Fri, 19 Jul 2019 16:00:52 +0000
The Minister of Medical Care of the Netherlands informed the Dutch parliament that exports of medical cannabis flower to Germany will increase this year.
In the letter, dated July 12, the Dutch minister explained that the request for an increase came from his German counterpart, who asked for a hike in the annual volume of medical cannabis flower shipped from the Netherlands to Germany from the current 1,500 kilograms (roughly 3,300 pounds) to 2,500 (about 5,500 pounds).
The request stemmed from an increase in the number of medical cannabis consumers in Germany and the fact that the nation’s domestic production won’t be available until early 2021.
The Dutch minister mentioned in the letter to the parliament that the Netherlands’ current production capacity can fulfill the German request.
As of now, only Bedrocan grows medical cannabis flower for commercial purposes in the Netherlands, whose exports are carried out by the government Office of Medical Cannabis.
The Netherlands now plans to export a total of 2,500 kilograms to Germany in 2019 and 2020. To do that this year, the plan is to ship 1,500 kilograms by August and the remaining 1,000 before the end of December.
This is not the first time the agreed-upon supply quantities between the two countries have been increased. In August 2018, they were increased from 700 to 1,500 kilograms.
Currently, the only two countries exporting medical cannabis flower to Germany for pharmacy dispensing are the Netherlands and Canada.
In 2017, Germany imported 1,200 kilograms, then in 2018 more than doubled that amount to roughly 3,000 kilograms, with about half of it coming from the Netherlands and the other half from Canada.
Almost 2,500 kilograms were already imported during the first half of 2019.
Published at Fri, 19 Jul 2019 18:43:23 +0000
Spyder Cannabis Inc. (TSXV: SPDR) (“Spyder“), an established cannabis and vape retail operator intending to become one of North America’s leading hemp-infused medical and lifestyle company, today announced that it signed its first hemp agreement for the supply of full spectrum products to support Spyder’s debut of a hemp infused product line to be sold across the U.S. under its SPDR(R) brand.
Spyder is expanding its chain of hemp-infused medical and lifestyle product shops with their new brand called SPDR (R). These boutique shops will stock Spyder’s SPDR (R) branded hemp infused products developed for an aging, health and wellness demographic. Spyder will offer a wide array of hemp-infused product offerings including; muscle balm, face oil, body lotion and bath salts, as well as hemp-infused tinctures, capsules and sprays. In addition, hemp is a natural source of CBD, the non-intoxicating component of cannabis that can be used for health and wellness purposes in jurisdictions where legally permitted.
The hemp industry is booming and has the potential to become a $22 billion business by 2022, according to cannabis-focused research firm Brightfield Group. “Spyder plans on executing an aggressive expansion plan to create a significant retail brand in the U.S. hemp market,” stated Daniel Pelchovitz, CEO and President of Spyder. “We are very pleased to partner with this producer which will provide the product formulation and packaging to help create a premium product line for consumers across the U.S.”
The initial launch will feature four distinct hemp-derived products; Balms at 125mg and 500mg strength, tinctures at 300mg, 500mg and 1,000mg strength, soft gel capsules at 15mg strength and a pet line starting with tinctures at 300 mg strength.
About Spyder Cannabis
Founded in 2014 Spyder is an established chain of three high-end vape stores, and two cannabis accessory stores, in Ontario, with locations in Woodbridge, Scarborough, Burlington, Pickering and Niagara Falls. The Spyder brand is defined by its high-quality proprietary line of e-juice, liquids and exclusive retail deals, dispensed in uniquely designed stores creating the optimal customer experience. Spyder is building off this leading retail, distribution and branding eCig and vapes company and is pursuing expansion into the legal cannabis and hemp derived market. Spyder has developed a scalable retail model with plans to create a significant footprint with targeted and disciplined retail distribution strategy focusing on Canadian retail and U.S. boutique retail and kiosks in high traffic peripheral areas.
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For more information, please contact:
Spyder Cannabis Inc.
President & Chief Executive Officer
Telephone: (905) 265-8273
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur..
These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made. Any number of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.
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Published at Thu, 18 Jul 2019 12:47:03 +0000
Medicine Man Technologies, Inc. (OTCQX: MDCL) (“Medicine Man Technologies” or “Company”), today announced that the Company has amended its original securities purchase agreement (SPA) dated June 5, 2019, with strategic partner Dye Capital & Company. Pursuant to the amendment, the SPA was revised to reflect an increase in the overall size of the funding from $14 million to up to $21 million.
At the initial closing, the Company issued and sold 1,500,000 common shares and warrants to purchase 1,500,000 shares of common stock, for gross proceeds of $3 million. Medicine Man Technologies and Dye Capital also completed on July 15, the second closing from the SPA, with Dye Capital purchasing 3,500,000 shares of Company stock for $7 million and receiving warrants to purchase 3,500,000 shares of common stock at an exercise price of $3.50.
As a result, at the third closing, scheduled for August 15, 2019, Dye Capital will purchase 3,000,000 shares of common stock and have the option to acquire up to an additional 2,500,000 shares of common stock, for an aggregate of up to 5,500,000 shares of common stock, and warrants to purchase 100% of the number of shares of common stock at an exercise price of $3.50 per share.
“This commitment from our strategic partner signals their confidence in our business as we continue to deliver on our promise to be one of the leading vertically integrated cannabis operators with a deep footprint in the most mature cannabis market in the world,” said Andy Williams, Co-Founder and Chief Executive Officer of Medicine Man Technologies. “We continue to add new team members to strengthen our company as we move forward in executing on our plan. The members from Dye Capital are not only increasing their investment, but are personally invested in the Company and have directly been responsible for successfully implementing a similar growth strategy through acquisitions in the grocery industry. There they grew Albertsons from $10 billion in revenue to over $60 billion in revenue. We have increased our industry footprint with the announcements of several pending acquisitions to build a vertically integrated powerhouse that will combine the best and brightest industry founders into one organization.”
Medicine Man Technologies recently announced Justin Dye, Dye Capital Managing Partner, as the Company’s Chairman of the Board and Leo Riera as a new member of its Board of Directors. Mr. Dye has 25 years of experience in private equity, general management, operations, strategy, corporate finance and M&A and served as an integral part of the private equity consortium that acquired Albertsons Companies and led its expansion through over $40 billion in acquisition, divestiture, real estate and financing transactions. Mr. Riera has over 30 years of experience in investment banking and fund management and was the Country Head for Bankers Trust in Venezuela for over a decade. The Company also announced the addition of Todd Williams as Chief Strategy Officer in June, who has over 24 years of consulting and asset valuation experience. On July 1, the Company appointed Lee Dayton Jr. as Chief Administrative Officer. Mr. Dayton brings over 25 years of investment banking and corporate development experience to his new role.
In recent weeks, the Company entered into binding agreements to acquire four licensed operators in the State of Colorado, and is actively engaged in forming a solid entity involving leading cultivation, extracting and retailing assets in Colorado and Colombia.
For more information about Medicine Man Technologies, please visit https://www.medicinemantechnologies.com.
About Medicine Man Technologies
Denver, Colorado-based Medicine Man Technologies (OTCQX: MDCL) is a rapidly growing provider of cannabis consulting services, nutrients and supplies. The Company”s client portfolio includes active and past clients in 20 states and 7 countries throughout the cannabis industry. The Company has entered into agreements to become one of the largest vertically integrated seed-to-sale operators in the global cannabis industry. Current agreements will enable Medicine Man Technologies to offer cultivation, extraction, distribution and retail pharma-grade products internationally. The Company’s intellectual property includes the “”Three A Light”” methodology for cannabis cultivation and pending acquisition candidate MedPharm’s GMP-certified facility, which has the first cannabis research license to conduct clinical trials in the United States. Management includes decades of cannabis experience, a unique combination of first movers in industrial cannabis and proven Fortune 500 corporate executives.
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, 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 and many of which are outside of our control. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) regulatory limitations on our products and services; (ii) our ability to complete and integrate acquisitions; (iii) general industry and economic conditions; and (iv) our ability to access adequate financing on terms and conditions that are acceptable to us, as well as other risks identified in our filings with the SEC. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
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SOURCE Medicine Man Technologies, Inc.
Published at Wed, 17 Jul 2019 12:27:27 +0000