- Company will acquire Los Sueños, North America's
largest sustainable cannabis farm to strengthen production and
operational synergies and enable competitive growth
- The pending acquisition of
Purplebee's will put Medicine Man Technologies on a growth trajectory
and open up their manufacturing and sales capabilities
- Founder of Los Sueños, Bob DeGabrielle to Join Medicine Man Technologies Board of Directors
Medicine Man Technologies, Inc. (OTCQX: MDCL)
("Medicine Man Technologies" or "Company"), a rapidly growing,
vertically integrated cannabis operator, today is pleased to announce
that it has entered into binding term sheets to acquire the assets and
rights from Colorado-based Los Sueños Farms, LLC, North America's
largest sustainable cannabis farm. The Company has also entered into a
binding term to acquire Mesa Organics Ltd (d/b/a Purplebee's), Mesa
Organics II Ltd. and Mesa Organics III Ltd. (collectively "MesaPur"), a
leading cannabis dispensary and infused products manufacturing company,
utilizing pure CO2 extracts from the finest locally-grown cannabis in Colorado.
hese acquisitions will increase Medicine Man Technologies' footprint and
expand its operations in cultivation, extraction, production and sales,
advancing its plan to become a fully vertically integrated operator in
the cannabis industry. The acquisition of Los Sueños and MesaPur was
made possible by the passage of House Bill 19-1090, which was signed into law by Colorado's Governor Jared Polis on May 29th, opening up Colorado's cannabis industry to outside investors and enabling increased investment by venture capitalists and private equity firms.
"Since our inception, we have been focused on delivering the best
products and cultivation methods, and the addition of Los Sueños Farms
will play an integral role in our core business and service offerings,"
said Mr. Andy Williams, Co-Founder and
Chief Executive Officer of Medicine Man Technologies. "We also
identified another key acquisition opportunity with one of Colorado's
leading dispensary and manufacturing companies: Purplebee's. They are
an established leader in providing high quality premium products that
align with our vision and mission. We believe these two acquisitions
will put us on a trajectory for accelerated growth, and secure Medicine
Man Technologies as a leader in cannabis operations worldwide."
Los Sueños is the largest cannabis farm in North America,
with 36 acres of rich farmland under cultivation with natural sun-grown
cannabis, and an additional 36,000 square feet of cannabis greenhouses.
Los Sueños has developed state-of-the-art technologies and systems to
produce, harvest and process all of its cannabis biomass to meet the
market's wholesale needs through its extraction partner Purplebee's. By
using beneficial insects and intense solar radiation provided by nature
without the use of pesticides, Los Sueños runs a healthy and sustainable
farm that keeps both its customers and the environment in mind.
Purplebee's is a family-owned business that is veteran and woman-owned
and operated. The Company's pure CO2 products are extracted using
advanced supercritical carbon dioxide technology and never contain
hydrocarbons such as butane or other additives. Purplebee's takes pride
in purity with nothing artificial in the mix while leaving the minimum
possible footprint on the environment. Purplebee's is committed to
excellence and compliance beyond what is required by law to make certain
all extracts are made from material has been clear of pesticides and
herbicides for at least 20 generations back.
About Medicine Man Technologies Medicine Man Technologies is a fully integrated operator in the cannabis industry, offering consulting, retail pharma-grade products, and turnkey solutions for cannabis cultivators for over a decade. Medicine Man Technologies is leveraging its expertise and intellectual property to vertically integrate retail, cultivation, formulation, and distribution operations. The Company's client portfolio includes active and past clients in 18 states and seven countries.
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