DENVER – Medicine Man Technologies, Inc. (OTCQX: MDCL) (“Medicine Man Technologies” or the “Company”) nowadays announced that the Corporation has entered into a binding term sheet to obtain Colorado-primarily based Dabble Extracts, an award-winning cannabis concentrate organization that specializes in processing healthcare and recreational marijuana into premium-grade extracts.
Below the terms of the term sheet, the Corporation will spend $three,750,000 for Dabble Extracts. The acquire price tag will consist of $750,000 in money and 996,678 shares of prevalent stock priced at $three.01/share, which is the typical closing price tag of the Company’s stock for the 5 trading days prior to August six, 2019. The terms can also be referenced in the eight-K, which outlines the closing circumstances. The obligations of the Corporation and Dabble Extracts beneath the term sheet are conditioned upon the satisfaction or mutual waiver of particular circumstances, which includes regulatory approval.
“The proposed acquisition of Dabble Extracts will additional improve our solution portfolio, as it will bring the experience and one of a kind extraction capabilities important to generate higher-high quality cannabis concentrates in the kind of shatter and wax solutions,” mentioned Mr. Andy Williams, Co-Founder and Chief Executive Officer of Medicine Man Technologies. “Josh marks the fifth business pioneer that we have announced in the span of 3 months to come on board, which is a testament to our vision in bringing the finest and brightest to join forces and compete in a swiftly altering industry. His background and mastery as an extraction technician will support us generate, generate and distribute a superior portfolio of solutions. As a industry leader, we think it is incumbent for the Corporation to supply a extensive and exceptional solution providing in all industry segments, and Dabble Extracts’ award-winning solution line and one of a kind and proprietary extraction approach definitely assists us meet this purpose.”
“We have basically pioneered our personal extraction approach and have grown via a grassroots method related to that of Andy’s knowledge,” mentioned Mr. Josh Hindi, Founder of Dabble Extracts. “The group at Medicine Man Technologies shares our vision for the lengthy term, and this accelerates our development trajectory by developing a complementary method at the forefront of the explosive chance in the cannabis business. Our shatter is of the highest high quality, and we are a single of the major producers nowadays for concentrates, primarily based on the several awards we’ve received. We’re excited to join the group and think this enables us to take a substantial step forward in our small business as we combine our technical capabilities with the crucial distribution capabilities that need to permit us to go national and international in the future.”
For extra facts about Medicine Man Technologies, please go to https://www.medicinemantechnologies.com.
About Medicine Man Technologies
Denver, Colorado-primarily based Medicine Man Technologies (OTCQX: MDCL) is a swiftly expanding provider of cannabis consulting solutions, nutrients and supplies. The Company’s client portfolio involves active and previous customers in 20 states and seven nations all through the cannabis business. The Corporation has entered into agreements to turn into a single of the biggest vertically integrated seed-to-sale operators in the worldwide cannabis business. Existing agreements will allow Medicine Man Technologies to supply cultivation, extraction, distribution and retail pharmaceutical-grade solutions internationally. The Company’s intellectual house involves the “Three A Light” methodology for cannabis cultivation and pending acquisition candidate MedPharm’s GMP-certified facility, which has the very first cannabis study license to conduct clinical trials in the United States. Management involves decades of cannabis knowledge, a one of a kind mixture of very first movers in industrial cannabis and verified Fortune 500 corporate executives.
About Dabble Extracts
Dabble Extracts is committed to giving consumers with the most flavorful solutions although guaranteeing the finest high quality in its creation and extraction techniques. Dabble seeks to redefine the business common by providing higher-high quality shatters and waxes in the cleanest and purest kind doable with extremely minimal residue of the specially formulated hydrocarbon solvent applied in its solution extraction. Dabble Extracts’ solutions can presently be discovered in 60 dispensaries all through Colorado. Shatter is a single of the most recognized concentrates, a strong substance that resembles a honey-colored glass shard. Wax is one more sort of marijuana extract, which resembles the texture of candle wax. Each extracts can be vaped and dabbed for use.