Schwazze (OTCQX:SHWZ) reported Tuesday that it has closed the previously announced acquisition of Smoking Gun, LLC and Smoking Gun Land Company, LLC. Total consideration for the acquisition was $4 million in cash and 100,000 shares of Schwazze common stock upon closing.
The Smoking Gun dispensary and assets are located on a prime retail corner on Colorado Blvd. in Glendale, Colorado in the center of the greater Denver metro area. This acquisition is part of the Denver, Colorado-based cannabis company’s continuing retail expansion plan in the state.
In addition to recently announced acquisitions in New Mexico, Schwazze now has a total number of 32 dispensaries.
Since April 2020, Schwazze has acquired or announced the planned acquisition of 32 cannabis dispensaries, including the ten Greenleaf New Mexico shops. In 2021, the Company also acquired or announced the planned acquisition of seven cultivation facilities, three in Colorado - SCG Holding LLC, Brow 2 LLC and Star Buds - and four licensed in New Mexico. The New Mexico acquisition will also add a manufacturing asset, Elemental Kitchen & Laboratories, LLC, to the Company's manufacturing plant, Purplebee's in Colorado. In May 2021, Schwazze announced its BioSciences division and in August 2021 it commenced home delivery services in Colorado.
More recent news from Schwazze:
Schwazze To Buy Two Emerald Fields Cannaboutique Dispensaries In Colorado For $29M In Cash And Stock
Shwazze Q3 Revenue Grows 328.4% YoY To $31.8M; Updates Guidance Following Recent Acquisitions
Price Action
Schwazze shares traded 3.63% at $1.86 per share at the time of writing Wednesday morning.
Photo: Courtesy of herbadea Berlin on Unsplash
