Denver, Colorado – Medicine Man Technologies, Inc. (OTCQB: MDCL), one of the country’s leading cannabis brand development and consulting companies announced May 9 that it has agreed to terms to acquire the Denver Consulting Group, LLC with offices in Denver, Colorado and Portland, Ore., according to a press release published by SEC.gov. The closing of this transaction is subject to completion by Medicine Man Technologies (“MMT”) of its due diligence efforts. The transaction has already been approved by the Board of Directors of MMT and by the Managers and Members of Denver Consulting Group, Inc. The terms of the acquisition provide for MMT to issue an aggregate of 2,258,065 shares of its Common Stock to the Members of Denver Consulting Group.
Greg Gamet, Denver Consulting Group’s Co-Founder and Managing Partner stated, “Our companies have known each other for some time and worked together in the past to accommodate clients when we both had capacity challenges. In discussing this opportunity we were immediately comfortable in considering such an alignment based upon our mutual respect for each other that has developed from past experiences. I believe our corporate cultures are very similar and that the combination of their new relationship with Josh Haupt with both company’s respected presence in the cannabis industry will allow the consolidated company to become an even more value based resource to our existing and future clients.”
Brett Roper, MMT’s COO and Co-Founder stated, “As we continue to search for acquisition and growth opportunities we firmly believed that other high quality consulting practices would provide greater access to people resources as well as markets here in the US and globally. The Denver Consulting Group’s principals and team have worked tirelessly over these past several years to develop a well-respected and successful business presence within the industry. We are honored that they believe in this opportunity and are looking forward to continuing to provide a value engineered level of excellence in our service offerings. We are very excited about the various growth opportunities this consolidation will provide and are optimistic that these exciting developments will enhance revenues and allow us all to reach our overall goals of the evolution of Medicine Man Technologies and the Denver Consulting Group into a valuable component of our brands warehouse.”