SCHWAZZE OPENS NEW CANNABIS DISPENSARY IN RUIDOSO

Rhea-AI Summary

Schwazze (OTCQX: SHWZ) has opened its new adult-use dispensary, R.Greenleaf, in Ruidoso, New Mexico, as of September 24. This marks the company's ongoing expansion, bringing its total dispensaries in New Mexico to 11. The grand opening celebration is scheduled for October 8, featuring special promotions, giveaways, and food for customers. Since April 2020, Schwazze has acquired or opened 36 cannabis retail dispensaries and other facilities in Colorado and New Mexico, signaling its commitment to growing within the cannabis market.

Positive

• The new R.Greenleaf dispensary expands Schwazze's retail presence in New Mexico to 11 locations.
• The grand opening coincides with the legalization of recreational cannabis in New Mexico, enhancing market opportunities.

Negative

• None.

 NEO: SHWZ
OTCQX: SHWZ

Grand Opening Event Scheduled for Saturday, October 8^th; Major Expansion of R.Greenleaf Retail Banner Begins

DENVER, Sept. 28, 2022 /PRNewswire/ -  Schwazze, (OTCQX: SHWZ)  (NEO: SHWZ) ("Schwazze" or the "Company"), a premier vertically integrated, multi-state operating cannabis company with assets in Colorado and New Mexico, announces the grand opening of its adult-use dispensary, R.Greenleaf, located in the heart of Ruidoso, New Mexico. The new store, located at 360 Sudderth Drive in Ruidoso, officially opened its doors for business at 12p on Saturday, September 24^th.  Normal store operating hours are 10a to 9p Monday through Saturday; 10a to 8p on Sunday.

This store opening kicks off Schwazze's deliberate expansion throughout the state of New Mexico. This new store in Ruidoso brings R.Greenleaf's number of New Mexico retail dispensaries to 11. All locations serve the needs of medical patients as well as recreational adult-use consumers.

"Schwazze is excited to add to our retail footprint in New Mexico with our latest store opening in Ruidoso. Our team is thrilled to be opening our first new store since adult recreational cannabis was legalized in New Mexico on April 1^st," said Steve Pear, New Mexico Division President for Schwazze. "We feel honored to service the Ruidoso community with top-notch, knowledgeable staff and a wide variety of quality products."

Grand opening product specials and promotions are already in full swing with multiple flower pack offers, pre-rolls, gummies, chocolates and distillate vaporizer cartridges. Bundled kits or cannabis product starter packs will be offered for sale as well to provide patients and recreational customers a variety of product forms and consumption methods based on individual needs and preferences.

A grand opening celebration will be held on Saturday, October 8^th beginning at 10a and running until 3p. Swag bags containing limited edition holographic stickers, t-shirts and beanies will be available while supplies last. Music will accompany a food truck offering free burritos and tacos to the first 75 customers making a purchase.

Ruidoso Store Location

R.Greenleaf
360 Sudderth Dr.
Ruidoso, New Mexico 88345

Grand Opening Celebration

Saturday, October 8^th
10a to 3p

Since April 2020, Schwazze has acquired, opened or announced the planned acquisition of 36 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