Medicine Man Technologies Expands its Retail Capabilities with the Planned Acquisition of Roots Rx, a Hugely Respected Operator with Six Dispensaries and Cultivation Facilities


– Roots Rx is 1 of the leading dispensary brands inside Colorado, with higher excellent cannabis, ease of ordering functions, knowledgeable budtenders, and a exceptional loyalty system

– This transaction will add an added six dispensaries to the Company’s retail footprint, bringing the total quantity of dispensaries to 23 upon closing of all pending acquisitions

– Roots Rx operates a massive outside cultivation facility in Aspen that is recognized for its higher-excellent merchandise and biomass

DENVER, Sept. six, 2019 /PRNewswire/ — Medicine Man Technologies, Inc. (MDCL) (“Medicine Man Technologies” or the “Business”), is pleased to announce its most current binding term sheet to obtain Roots Rx, a cannabis operator with six dispensaries positioned in the ski and mountain towns of Colorado. The Business will also obtain Roots Rx’s outside cultivation facilities positioned outdoors of Aspen. This most current announcement comes on the heels of term sheets announced earlier this week to obtain a quantity of dispensaries, such as retail areas employing the Starbuds and Colorado Harvest Business brands and a series of independent dispensaries, which will bring the Company’s total dispensary count to 23 upon the productive closing of all the pending acquisitions.

Medicine Man Technologies Inc. Logo (PRNewsfoto/Medicine Man Technologies Inc.)

Beneath the terms of the transaction, Medicine Man Technologies will acquire Roots Rx   for a total cost of $15 million, which will consist of $7.five million in money, the issuance of 1,779,661 shares of its prevalent stock at a cost of $two.95 per share, and a deferred money payment of $two.25 million to be produced a year following the initial closing date. Primarily based on year-to-date benefits, management expects these six dispensaries to create more than $12 million in income in 2019 and in excess of $two.1 million in EBITDA. 

“We’ve been regionally focused on plans to improve our retail capacity and expand our presence, and this move is constant with our intention to vertically integrate our develop, manufacturing, and state-wide retail facilities,” stated Andy Williams, Co-Founder and Chief Executive Officer of Medicine Man Technologies. “We are specifically excited to obtain retail presence beyond the Denver metro location and into the mountainous and resort regions of the state via the Roots Rx areas.  Medicine Man Technologies has constructed its foundation on aggregating a brain trust of the most effective and brightest pioneers of the market. We are incredibly pleased to welcome onto our group Robert Holmes and Steven Miller, two savvy and sophisticated operators, as effectively as their productive develop and retail shops. We really feel that the mixture of our corporations will outcome in operational synergies.”

“We began our household of dispensaries with the very same entrepreneurial spirit that Andy Williams and his group have utilized to make Medicine Man Technologies into a major regional cannabis operator,” commented Robert Holmes, Chief Executive Officer of Roots Rx. “Our buyers will advantage from the expanded solution and brand offerings additional readily out there to us beneath the Medicine Man Technologies umbrella following our transaction closings. To be in a position to join the list of market pioneers that will be involved at Medicine Man Technologies is a great chance for all of us at Roots Rx. We appear forward to beginning this journey with each other.”

The six dispensaries that will be acquired in this transaction are positioned in Aspen, Basalt, EagleVail, Edwards, Leadville, and Gunnison.

The terms of the transaction can also be referenced in the Company’s eight-K, which outlines the closing situations and are conditioned upon the satisfaction or mutual waiver of particular situations, such as regulatory approval.

For additional details about Medicine Man Technologies, please visit

About Medicine Man Technologies
Denver, Colorado-primarily based Medicine Man Technologies (MDCL) is a swiftly developing provider of cannabis consulting solutions, nutrients and supplies.  The Company’s client portfolio involves active and previous customers in 20 states and 7 nations all through the cannabis market. The Business has entered into agreements to come to be 1 of the biggest vertically integrated seed-to-sale operators in the international cannabis market.  At present contemplated transactions topic to term sheets, if closed, will allow Medicine Man Technologies to supply cultivation, extraction, distribution and retail pharma-grade merchandise internationally.  The Company’s intellectual house would contain the “3 A Light” methodology for cannabis cultivation upon closing of pending acquisition candidate MedPharm’s GMP-certified facility, which has the initially cannabis investigation license to conduct clinical trials in the United States. Management involves decades of cannabis practical experience, a exceptional mixture of initially movers in industrial cannabis and confirmed Fortune 500 corporate executives.

Forward-Searching Statements
This press release consists of “forward-seeking statements” inside the which means of the secure harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements may possibly be preceded by the words “intends,” “may possibly,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “prospective” or related words. Forward-seeking statements are neither historical details nor assurances of future overall performance. Alternatively, they are primarily based only on our present beliefs, expectations and assumptions concerning the future of our enterprise, future plans and techniques, projections, anticipated events and trends, the economy, and other future situations. Since forward-seeking statements relate to the future, they are topic to inherent uncertainties, dangers and alterations in situations that are complicated to predict and several of which are outdoors of our manage. Such dangers and uncertainties contain, devoid of limitation, dangers and uncertainties related with (i) regulatory limitations on our merchandise and solutions (ii) our capability to full and integrate acquisitions (iii) common market and financial situations and (iv) our capability to access sufficient financing on terms and situations that are acceptable to us, as effectively as other dangers identified in our filings with the SEC. The Business assumes no obligation to publicly update or revise its forward-seeking statements as a outcome of new details, future events or otherwise.

Investor Relations Speak to: 
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