MULTI-STATE CANNABIS OPERATOR, SCHWAZZE, CONTINUES EXPANSION INTO NEW MEXICO WITH ADDITIONAL R.GREENLEAF STORE OPENING IN ALBUQUERQUE

Rhea-AI Summary

Schwazze (OTCQX: SHWZ, NEO: SHWZ) announced the grand opening of its R.Greenleaf Paseo dispensary in Albuquerque, New Mexico on February 18, 2023. This event marks Schwazze's ongoing expansion in New Mexico, bringing the total number of R.Greenleaf locations to 17 since acquiring the retail banner in February 2022. The new store will cater to both medical and recreational cannabis consumers, with operating hours from 9 a.m. to 10 p.m. Monday to Saturday, and 9 a.m. to 8 p.m. on Sundays. Promotional activities include introductory pricing and a chance for customers to win season passes for New Mexico United. This follows Schwazze's acquisition binge, totaling 44 dispensaries and multiple facilities since April 2020.

Positive

• Opening of R.Greenleaf Paseo dispensary expands Schwazze's footprint in New Mexico to 17 locations.
• Promotional introductory pricing on various products to attract new customers.
• Grand opening event includes community engagement activities, enhancing brand visibility.

Negative

• None.

NEO: SHWZ
OTCQX: SHWZ 

Grand Opening Event Scheduled for Saturday, February 18

DENVER, Feb. 17, 2023 /PRNewswire/ - Schwazze, (OTCQX: SHWZ) (NEO: SHWZ) ("Schwazze" or the "Company"), a multi-state operating cannabis company with assets in Colorado and New Mexico, announces the grand opening of its adult-use dispensary, R.Greenleaf Paseo, opening on Saturday, February 18, 2023. The new store, open to both recreational and adult use consumers, is located at 8150 Louisiana BLVD NE in Albuquerque. Store operating hours are 9a to 10p Monday through Saturday; 9a to 8p on Sunday. 

The R.Greenleaf Paseo store opening continues the intentional expansion throughout the state of New Mexico and comes on the heels of a total of six additional R.Greenleaf store openings since Schwazze's acquisition of the retail banner one year ago in February 2022. This brings R.Greenleaf's total number of New Mexico retail dispensaries to 17. All locations serve the needs of medical patients as well as recreational adult-use consumers.

"We are excited to be a part of the growing cannabis community in New Mexico and to open up an additional R.Greenleaf dispensary in the state. The team has been hard at work realizing our expansion plans throughout New Mexico," said Nirup Krishnamurthy, President of Schwazze. "R.Greenleaf, offering a wide variety of quality products serviced by top-notch, knowledgeable staff, has grown from 10 locations to now 17 within just one year."

R.Greenleaf Paseo will also offer introductory pricing on flower, edibles, and vapes. Enrollment in the Gratify Rewards customer loyalty program, which can be used at any Schwazze-owned retail dispensary in either New Mexico or Colorado, will begin when doors open, however, customers can enroll now at any other R.Greenleaf dispensary location.

The grand opening event is scheduled for Saturday, February 18^th beginning at 12 noon. All Gratify Rewards members that shop at the Paseo location on the February 18^th will be automatically entered to win two 2023 New Mexico United season passes.

Sanchez Tacos will offer free taco plates to the first 50 customers that make a dispensary purchase beginning at 12pm. The first 50 customers at 12pm will also receive free swag bags, stickers, pens, dank banks, and munchies from Cheba Hut.

Kiss FM 97.3 Radio & the legendary DJ Cali will be on the grounds spinning records for all in attendance.

Paseo Store Location

R.Greenleaf Paseo
8150 Louisiana BLVD NE
Albuquerque, NM 87113
(505) 496-1082

Grand Opening Celebration

Saturday, February 18, 2023
12p to 4p

Store Hours

Mon thru Sat 9a – 10p
Sunday 9a – 8p

Since April 2020, Schwazze has acquired, opened or announced the planned acquisition of 44 cannabis retail dispensaries as well as seven cultivation facilities and two manufacturing plants in Colorado and New Mexico. In May 2021, Schwazze announced its Biosciences division and in August 2021 it commenced home delivery services in Colorado.

About Schwazze

Schwazze (OTCQX: SHWZ  NEO: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company's leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.

Medicine Man Technologies, Inc. was Schwazze's former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc. Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

Forward-Looking Statements

This press release contains "forward-looking statements." Such statements may be preceded by the words "plan," "will," "may," "continue," "predicts," or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses, including the acquisition described in this press release, and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, and (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

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SOURCE Schwazze

FAQ

What is the significance of the R.Greenleaf Paseo dispensary opening on February 18, 2023?

The opening signifies Schwazze's continued expansion in New Mexico, increasing its R.Greenleaf locations to 17.

What are the operating hours for the new R.Greenleaf Paseo dispensary?

The dispensary will operate from 9 a.m. to 10 p.m. Monday through Saturday, and 9 a.m. to 8 p.m. on Sundays.

What promotions are being offered at the new R.Greenleaf Paseo dispensary?

The store will have introductory pricing on products and a chance to win season passes for New Mexico United as part of its grand opening.

How many dispensaries has Schwazze opened since acquiring R.Greenleaf?

Since acquiring R.Greenleaf in February 2022, Schwazze has opened a total of 17 dispensaries in New Mexico.

Where is the R.Greenleaf Paseo dispensary located?

The R.Greenleaf Paseo dispensary is located at 8150 Louisiana BLVD NE, Albuquerque, NM.