Schwazze, (OTCQX:SHWZ) will buy Smoking Gun, LLC and Smoking Gun Land Company, LLC for $4 million in cash and 100,000 shares.
The cannabis company, based in Denver, Colorado, confirmed Monday it has signed definitive documents to acquire The Smoking Gun dispensary and assets as part of its continuing retail expansion plan in Colorado bringing the total number of dispensaries, including announced acquisitions, to 20.
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.
Total consideration for the acquisition will be $4 million in cash and 100,000 shares in Schwazze common stock upon closing. The acquisition is expected to close during the fourth quarter of 2021, subject to closing conditions and covenants customary for this type of transaction, including, without limitation, obtaining Colorado Marijuana Enforcement Division and local licensing approval.
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Price Action:
Schwazze’s shares closed the Friday market session 5.31% higher a $2.18 per share.
Photo: Courtesy of Esteban Lopez on Unsplash
