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Medicine Man Technologies to Acquire Colorado Cannabis Edible Producer to Strengthen Portfolio
Thursday 22 August 2019

22 August 2019 - Colorado, US-based Medicine Man Technologies, Inc. (OTCQX: MDCL) has entered into a binding term sheet to acquire one of Colorado's edible and extracts companies, the company said.
Terms of the transaction consist of shares of common stock and cash valued at approximately USD 17.25m. The acquisition is expected to close by the first half of 2020.
Upon completion, the acquisition will expand Medicine Man Technologies' portfolio to include one of the state's manufacturers of a nationwide, reputable lifestyle brand that has an extensive line of cannabis-infused extracts, edibles, and other wellness products.
Medicine Man Technologies is a 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.
Date Published: 22/08/2019
Target: Colorado,  edible and extracts company
Country: USA
Deal Size: 17.25m (USD)
Sector: Food/Beverages/Tobacco
Type: Corporate acquisition
Status: Agreed
Buyer: Medicine Man Technologies
Terms of the deal were not disclosed