Medicine Man Technologies To Make a Purchase of $31 Million Worth of a Marijuana Firm, Colorado
Medicine Man Technologies will pay 31 million dollars’ worth of cash and stock, for the acquisition of Strawberry Fields. This announcement was made on Wednesday, by the Denver-based company. Strawberry Fields is a cannabis operating firm in Colorado.
Strawberry Fields handles the operations of a greenhouse and has worked closely with Medicine Man Technologies over the years. Strawberry Fields has two recreational dispensaries in Pueblo and four more in the state of Colorado.
Within the year, Medicine Man Technologies has purchased 34 dispensaries, and has also announced 10 acquisitions.
However, the most important business deals that Medicine Man Technologies has made is the acquisition of Los Sueños Farms, which is located in Pueblo. Los Sueños Farms is the most extensive outdoor marijuana production facility in Colorado.
Fourteen million dollars cash and Seventeen million dollars in stock will be set aside to fund the purchase of Strawberry Fields. The cash in stock is priced at $2.98 per share.
On the over-the-counter markets, Medicine Man Technologies operates in the market under MDCL as the ticker symbol.