Schwazze, (OTCQX: SHWZ) (“Schwazze” or the “Company”), announced that it has signed definitive documents to acquire the assets of Smoking Gun, LLC and Smoking Gun Land Company, LLC (“Smoking Gun”).
The Smoking Gun dispensary and assets are located on a prime retail corner on Colorado Blvd. in Glendale, Colorado in the center of the greater Denver metro area. This acquisition is part of the Company’s continuing retail expansion plan in Colorado bringing the total number of dispensaries including announced acquisitions to 20.
Total consideration for the acquisition will be $4 million in cash and 100,000 shares in Schwazze common stock upon closing. The acquisition is expected to close during the fourth quarter of 2021, subject to closing conditions and covenants customary for this type of transaction, including, without limitation, obtaining Colorado Marijuana Enforcement Division and local licensing approval.