DENVER, Dec. 21, 2021 /CNW/ - PRESS RELEASE - Schwazze has announced that it has closed the acquisition of the assets of Smoking Gun, LLC and Smoking Gun Land Company, LLC. Total consideration for the acquisition was $4 million in cash and 100,000 shares of Schwazze common stock upon closing.
The Smoking Gun dispensary and assets are located on a prime retail corner on Colorado Blvd. in Glendale, Colo., in the center of the greater Denver metro area. This acquisition is part of the company's continuing retail expansion plan in Colorado, and including the recently announced planned acquisitions in New Mexico (December 3, 2021), brings the total number of dispensaries to 32.
Since April 2020, Schwazze acquired or announced the planned acquisition of 32 cannabis dispensaries, including the ten R. Greenleaf New Mexico dispensaries. In 2021, the company also acquired or announced the planned acquisition of seven cultivation facilities, three in Colorado - SCG Holding LLC, Brow 2 LLC and Star Buds - and four licensed in New Mexico. The New Mexico acquisition will also add a manufacturing asset, Elemental Kitchen & Laboratories, LLC, to the company's manufacturing plant, Purplebee's in Colorado. In May 2021, Schwazze announced its BioSciences division and in August 2021 it commenced home delivery services in Colorado.
