Medicine Man Technologies, Inc.
M&A activity in the cannabis space is ongoing, and this time
the Colorado company has its sights set on the international
The vertically integrated company said Wednesday
that it entered into a binding term sheet with the Colombian
company Green Equity S.A.S. to acquire 100% of its assets.
Medicine Man will pay $5.4 million for the
company. If approved, the deal will consist of $450,000 in cash as
well as 1,292,427 shares of Medicine Man common stock at $3.83 a
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The acquisition is the third pending M&A deal
Medicine Man has announced in June.
The transaction provides Medicine
Man with licenses and IP for international cultivation,
exports, extraction, manufacturing and R&D. Going forward,
Medicine Man will combine its cultivation methods with access to
Green Equity’s 271-acre farm outside Bogotá.
The purchase of Green Equity secures Medicine
Man's strategy for global growht, CEO Andy Williams said in a
"We have proven the success of our rollout in
Colorado and have developed a world-class reputation that now is
ripe with opportunities. We believe that our early entry into the
market will allow us to further our goal of becoming a major global
player in the cannabis industry and create tremendous value for our
shareholders,” Williams said.
Medicine Man shares were trading higher by more
than 2 percent to $3.83 at the time of publication
Medicine Man Technologies Makes 2 Cannabis
Acquisitions In Colorado
Medicine Man Technologies Posts 65%
Year-Over-Year Revenue Increase
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