SCHWAZZE ANNOUNCES FIRST RECREATIONAL CANNABIS SALES IN NEW MEXICO
Schwazze (OTCQX: SHWZ, NEO: SHWZ) celebrated the first adult recreational cannabis sale in New Mexico on April 1, 2022 at its R. Greenleaf locations. Two events took place at 12:01 AM in Las Cruces and 7:01 AM in Santa Fe. New Mexico's cannabis market is projected to grow by approximately 300% over the next five years, following the enactment of the Cannabis Regulation Act in 2021. Schwazze aims to leverage this growth as it operates ten dispensaries and four cultivation facilities in the region.
- First adult recreational cannabis sales in New Mexico demonstrate market entry.
- New Mexico's cannabis market expected to grow by 300% in five years, indicating significant future revenue potential.
- None.
R. Greenleaf to Commemorate First Adult Recreational Cannabis Sale
OTCQX: SHWZ
NEO: SHWZ
DENVER, CO, April 1, 2022 /PRNewswire/ - Schwazze, (OTCQX:SHWZ NEO:SHWZ) ("Schwazze" or the "Company"), is pleased to announce that its operating subsidiary, R. Greenleaf, a licensed medical cannabis provider with ten dispensaries, four cultivation facilities, and one manufacturing location in New Mexico will commemorate the first adult recreational cannabis retail sale on April 1st at 12:01 am in Las Cruces and at 7:01 am in Santa Fe. Mr. Justin Dye, Chairman and CEO of Schwazze and Mr. Steve Pear, President of Schwazze, New Mexico division will be in attendance at the celebratory events at the Las Cruces and the Sante Fe R. Greenleaf retail locations.
New Mexico authorized the sale of adult use recreational cannabis via the Cannabis Regulation Act which passed the Legislature in 2021. The New Mexico market is expected to grow approximately by
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.
This press release contains "forward-looking statements." Such statements may be preceded by the words "plan," "will," "may,", "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 and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws, and * out ability to satisfy the closing conditions for the private finding described in this press release. 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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