Connect with us


Schwazze Signs Definitive Documents To Acquire Assets Of Sucellus, Manage Assets Of Everest

The acquisition will increase Schwazze’s New Mexico retail store count to 32




SCHWAZZE LOGO (CNW Group/Schwazze)

Medicine Man Technologies operating as Schwazze (OTCQX: SHWZ ) said Tuesday that it has signed definitive documents to acquire certain assets of Sucellus, LLC, pursuant to which the Company will manage Everest Apothecary, a New Mexico not-for-profit corporation. The proposed transaction includes retail dispensaries, cultivation, and manufacturing facilities.

Established in 2016, Everest is a medical and recreational cannabis provider that consists of 14 dispensaries, one cultivation facility and one manufacturing plant. Everest’s approximately 16,000 square feet of cultivation and 8,500 square foot manufacturing facility are located in Albuquerque.

“This planned acquisition shows our commitment to the Company’s super-regional cannabis growth strategy to go deep in select markets,” said Nirup Krishnamurthy, President of Schwazze.  Since April 2020, Schwazze has acquired, opened, or announced the planned acquisition of 60 cannabis retail dispensaries, as well as eight cultivation facilities and three manufacturing plants across Colorado and New Mexico. Denver, CO based Schwazze ranked #24 among the Global Cannabis 50 last December.

The consideration for the proposed acquisition is $38M and will be paid in a combination of cash, a four-year seller note and Company common stock. The acquisition is expected to close in Q2 of 2023, upon receipt of approval from the New Mexico Regulation and Licensing Department.







Cannaconvo with Peter Su of Green Check Verified

Cannabis Last Week with Jon Purow interviews Peter Su of Green Check Verified. Peter Su is a Senior Vice President with Green Check Verified, the top cannabis banking compliance software/consultancy in the space. A 20+ year veteran of the banking industry, Peter serves on the Banking & Financial Services committee of the National Cannabis Industry Association. He chairs the Banking and Financial Services Committee for the NYCCIA & HVCIA. He is an official member of the Rolling Stone Cannabis Culture Council. And, he is on the board of the Asian Cannabis Roundtable, serving as treasurer.

Promoted Headlines






Most Popular