Medicine Man Technologies Archives - Green Market Report

William SumnerWilliam SumnerSeptember 11, 2019
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4min2060

It’s time for your Daily Hit of cannabis financial news for September 11, 2019.

Medicine Man Technologies

Medicine Man Technologies, Inc. (OTCQX: MDCL) has entered into a binding term sheet to acquire the cannabis operator Strawberry Fields for $31 million. The acquisition is comprised of $14 million in cash and $17 million in common stock, priced at $2.98 per share. “The integration of Strawberry Fields into our family of Colorado pioneers will be impactful,” said Andy Williams, Co-Founder and CEO of Medicine Man Technologies. “This transaction will provide our Company with low-cost cultivation assets located in Pueblo, a growing manufacturing facility, and branded products. In addition we will be acquiring four retail locations in Western and Southern Colorado, including a high yielding store that is a leader in that part of the state. Adding Strawberry Fields to our portfolio will strengthen our strategy to become the leading integrated cannabis operator of Colorado.”

Tilray

After the market close yesterday, Tilray Inc. (NASDAQ: TLRY) announced in an 8k-filing that it has selected Cowen and Company to sell up to $400 million in stock once an S-3 registration statement is effective, with any sales to be an “at-the-market offering.”

Vapen MJ

Vapen MJ Ventures (OTCQX:VAPNF) announced the appointment of Arizona Attorney Scott A. Hill to the company’s advisory board. Hill is a patent attorney and former stock broker licensed to practice law in the state of Arizona and in the United States District Court for the District of Arizona. “Scott was instrumental in successfully working with the USPTO for Vapen MJ’s utility patent for our Cannabinoid Inhaler without a heating element. Scott crafted the claim in the filing, which makes the recently granted patent as broad as possible,” commented Thai Nguyen, Founder and CEO of Vapen MJ.

Aurora Cannabis

Aurora Cannabis (NYSE: ACB) announced the release of its financial results for the fourth quarter, ending on June 30, 2019. Net revenue for the quarter rose by 61% to $94.6 million. The cost-per gram sold declined t0 $1.14. The gross margin was 58% and adjusted EBITDA was a loss of $11.7 million. “In 2019 Aurora took its place as the global leader in cannabis production, research, innovation, and international market development. We are executing on all our strategic priorities,” said Terry Booth, Aurora CEO. “Our best in class cultivation methods allow us to grow consistent, high-quality cannabis at scale.”


William SumnerWilliam SumnerSeptember 9, 2019
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5min3310

It’s time for your Daily Hit of cannabis financial news for September 9, 2019.

On the Site

Medicine Man Technologies

Medicine Man Technologies, Inc. (OTCQX: MDCL) has been on a dispensary buying binge this past couple of weeks. Today the company has added to that list of newly acquired properties. The company said it would be buying four additional dispensaries in Colorado from a leading cannabis retailer. The company’s total dispensary count will grow to 27 upon the successful closing of all the pending acquisitions.

Cannabis Meets Fashion At New York Fashion Week

Fashion met cannabis this past weekend as Project Runway Allstar, Korto Momolu, partnered with Women Grow, the largest network of women in the cannabis and hemp industries for a runway show spectacular. The combination of high fashion and activewear emblazoned with the Women’s Grow logo was well-received by an enthusiastic audience.

Medical CCAs 101 (Cannabis Cooperative Associations)

This article describes the additional financial benefits of moving flower from cultivator to consumer through a CCA as medical cannabis rather than as adult-use cannabis.

In Other News

Aurora Cannabis

Aurora Cannabis Inc. (NYSE: ACB) has closed its previously announced amended and upsized credit facilities with a syndicate of lenders led by the Bank of Montreal. This consist of C$160 million in term loans and a feature enabling to company to upsize the facility by approximately C$40 million, in addition to the original C$200 million in credit facilities. “We are very pleased to now have three of the five largest Schedule 1 Canadian banks in our syndicate, along with increased participation from other key syndicate partners,” said Terry Booth, CEO of Aurora.

Tilray

Tilray Inc. (NASDAQ: TLRY) announced that it has signed a definitive merger agreement with Privateer Holdings, which is the company’s largest stockholder. Under the agreement, the parties will effect a downstream merger of Privateer with and into a wholly-owned subsidiary of Tilray, with the Tilray subsidiary surviving the merger, and the issuance by Tilray to Privateer equity holders of newly issued and registered shares of Tilray common stock and options to purchase shares of Tilray common stock in an aggregate amount equal to the number of Tilray common shares currently held by Privateer.

Sunniva

Sunniva Inc. (CSE: SNN) (OTCQB: SNNVF) announced that its that its wholly owned subsidiary, Natural Health Services Ltd. (NHS) has been named in a class action lawsuit filed in connection with a previously reported privacy breach of the Electronic Medical Record system used by NHS. “From the time we initially became aware of this issue, we have taken all the necessary steps to prevent a situation like this from happening again in the future,” said Dr. Mark Kimmins, President of NHS. “We continue to work with law enforcement and the Office of the Information and Privacy Commissioner of Alberta in the ongoing investigation into this matter.”


Debra BorchardtDebra BorchardtSeptember 9, 2019
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5min5340

Medicine Man Technologies, Inc. (OTCQX: MDCL) has been on a dispensary buying binge this past couple of weeks. Today the company has added to that list of newly acquired properties. The company said it would be buying four additional dispensaries in Colorado from a leading cannabis retailer. The company’s total dispensary count will grow to 27 upon the successful closing of all the pending acquisitions.

Medicine Man Technologies will spend $50,096,413 for the four dispensaries, which will be a combination of $25,048,206.50 in cash and 4,202,720 shares of its common stock at a price of $2.98 per share, with a deferred cash payment of $12,524,103.25 to be made 12 months following the initial closing date.

“These four dispensaries to be acquired culminate a tremendous run over the last week in which we announced the planned acquisitions of 22 dispensaries in Colorado,” commented Andy Williams, Co-Founder and Chief Executive Officer of Medicine Man Technologies.  “With an estimated 35% EBITDA margin, these retail stores are collectively expected to be some of the most profitable in our portfolio. We seek acquisition targets that meet strict operational and financial criteria, such as having a seasoned management team, commitment to high-quality products and services, and strong revenue growth.”

RootsRx

Last week Medicine Man Technologies said it was buying Roots Rx, a cannabis operator with six dispensaries located in the ski and mountain towns of Colorado. As part of the deal, the company will also get Roots Rx’s outdoor cultivation facilities located outside of Aspen. RootsRx cost $15 million and was also a combination of cash and stock. The six dispensaries that will be acquired in this transaction are located in AspenBasaltEagleVailEdwardsLeadville, and Gunnison.

More Deals

Also last week, the company said it was buying Colorado Harvest Company, which operates two dispensaries in Denver and one in nearby Aurora. That deal cost $12.5 million and was also a combination of cash and stock. Still not done, the company also said it was picking up an additional four unnamed dispensaries for $36 million. Williams added, “This proposed acquisition of these additional dispensaries will continue the expansion of our retail presence in Colorado.”

TJ Joudeh, the Managing Partner of the group of retail operations being acquired by Medicine Man in this transaction, commented, “We are excited to join the Medicine Man Technologies team to create a profitable and vertically integrated cannabis company. Combining our retail experience with the deep product supply of award-winning cannabis products from Medicine Man Technologies will be an incredible development for both companies as well as for consumers.

Starbuds’ five dispensaries were grabbed for $31 million last week as well. “Adding these five dispensaries to our Colorado operations will make our vertical supply strategy more efficient and help us grab additional market share through added retail capacity,” said Williams. “The Starbuds dispensary operations are truly top-tier in terms of brand, revenue-per-location, and profit across the cannabis retail industry.”

 

 


Debra BorchardtDebra BorchardtAugust 12, 2019
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8min4300

It’s time for your Daily Hit of cannabis financial news for August 12, 2019.

On The Site

CannTrust

After the market closed on Friday, CannTrust Holdings Inc. (NYSE: CTST)said it received a report from Health Canada telling the company that “Its manufacturing facility in Vaughan, Ontario has been rated non-compliant with certain regulations.”CannTrust stock is dropping over 25% to lately trade at roughly $2.26 in pre-market trading as shareholders learn about the continuing problems with the facilities causing more uncertainty.

The news that the company’s facility has failed a recent inspection is troubling because it was supposed to have addressed problems from previous inspections in which the company was found to be growing cannabis in rooms that hadn’t received licenses.  Health Canada has said that it is currently unable to provide any guidance about the timing or content of its decisions regarding CannTrust.

Saving Money

On August 6th we published an article that illustrated the savings for consumers and additional profits for cultivators that could be produced through the use of a properly organized Cannabis Cooperative Association (“CCA”). This article describes the savings for consumers and the additional profits for cultivators in the movement of cannabis in the form of extracted oil.

As we have said on multiple occasions, a CCA is the most financially efficient structure for engaging in business in California’s cannabis industry. The utilization of a CCA for the movement of cannabis as extracted oil produces even greater price reductions for consumers and increased profits for cultivators than with flower. This occurs because more costs are incurred between the cultivator and the consumer in the movement of extracted oil than in the movement of flower.

Novel?

It was announced on January 2019 that the European Food Safety Association, EFSA is about to make a decision in order to classify CBD oil and other CBD products as a novel food. This decision was announced at the Novel Food Commission meeting which was held in Brussels in 2016. This led to a final imminent decision very soon and EFSA considered CBD products as Novel Food.

In recent times, there has been tremendous growth in food products available in the market which eventually included Cannabidiol. And, according to reports, it is clear that the European CBD Market is going to encounter a boom in the near future. Eventually, the regulators started taking a closer look at the CBD products and oil available in the European market.

In Other News

MediPharm Labs

MediPharm Labs (MEDIF) reported that its second-quarter revenue was $31.5 million, a 43% increase over Q1 2019, reflecting Canadian cannabis extraction-only industry and the ramp-up of new committed contracts. Gross Profit was $11.3 million, a 65% increase over Q1 2019, while Gross Margin was 36% compared to 31% in Q1 2019, reflecting increased production and production efficiency that continues to improve as the Company realizes economies of scale. Adjusted EBITDA was $7.7 million, 79% higher than Q1 2019, while Adjusted EBITDA margin was 24% compared to 20% in Q1 2019. Net income before tax was $4.1 million compared to a net loss of $0.3 million in Q1 2019

MariMed

MariMed (MRMD) report that its revenues for the second quarter of 2019 were $25.7 million, up 774% compared to $2.9 million in the same year-ago quarter. The increase in revenue was primarily the result of hemp seeds sales totaling $25.2 million dollars, of which $22.0 million was recognized in the quarter. The remaining revenue is expected to be recognized in the third and fourth quarters of 2019 upon payment from the buyer. Revenues excluding the hemp seed sales increased 24% to $3.7 million versus the year-ago quarter.

Gross profit for the second quarter of 2019 was $8.9 million or 34.8% of revenues, up 341.1% from $2.0 million or 68.9% of revenues in the same quarter from a year ago. Gross profit in MariMed’s core businesses as a percentage of revenues increased to 72.4% in the second quarter of 2019 from 68.9% in the year-ago quarter. Net income for the second quarter of 2019 was $4.7 million or $0.02 per fully diluted share, improving from a net loss of $393,000 or $(0.00) per basic share in the year-ago quarter.

Medicine Man Tech

Medicine Man Technologies, Inc. (OTCQX: MDCL) announced that it has entered into a binding term sheet to acquire Colorado-based Dabble Extracts, an award-winning cannabis concentrate company that specializes in processing medical and recreational marijuana into premium-grade extracts.

Under the terms of the term sheet, the company will pay $3,750,000 for Dabble Extracts. The purchase price will consist of $750,000 in cash and 996,678 shares of common stock priced at $3.01/share, which is the average closing price of the Company’s stock for the five trading days prior to August 6, 2019. The terms can also be referenced in the 8-K, which outlines the closing conditions. The obligations of the Company and Dabble Extracts under the term sheet are conditioned upon the satisfaction of mutual waiver of certain conditions, including regulatory approval.

Nabis

Nabis Holdings Inc. (CSE: NAB) (OTC: NABIF has entered into a Definitive Agreement for the acquisition of 100% of the membership units of a licensed medical marijuana business in the state of Arizona.

The Asset, licensed under the provisions of the Arizona Medical Marijuana Act, operates a dispensary in Phoenix, Arizona. The dispensary in Phoenix has been operating since 2015 with proprietary branded products and wholesale operations, including an established distribution network serving more than 50% of the dispensaries in Arizona.

The audited sales for 2017 and 2018 were USD $7.4 million and $8.7 million respectively.  2019 unaudited revenue is on pace for sales of USD $9 million. The dispensary specializes in top-tier flower, vape pens, concentrates, edibles, tinctures, and CBD products.

 


William SumnerWilliam SumnerJune 6, 2019
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6min5460

It’s time for your Daily Hit of cannabis financial news for June 6, 2019.

On the Site

Cresco Capital Partners

Cresco Capital Partners (Cresco Capital) announced today that it has closed an oversubscribed fund of $60 million. Founded in 2014, Cresco Capital was one of the first and largest private equity firms to focus solely on the legal cannabis industry.

Italian court bans cannabis derivatives, in blow to popular sector

Italy’s top court has banned the sale of cannabis products, on the heels of threats by the country’s deputy prime minister to close shops who sell legal derivatives of the plant. Deputy Prime Minister and far-right League leader Matteo Salvini had declared war on so-called “cannabis light” shops in the run up to the European Parliament elections.

In Other News

Harborside

Harborside Inc. has announced that it has filed its listing statement with the Canadian Securities Exchange and that it will begin trading shares of the company on June 10, 2019 under the ticker symbol “HBOR.” “The start of trading represents a significant milestone for Harborside, and we’re grateful for the support that we’ve received from the CSE throughout the process,” said Harborside CEO Andrew Berman. “We’re excited to move forward as a public company, with a vehicle that attracts growth capital from new investors, and continue maintaining Harborside’s status as California’s premier cannabis operator.”

PharmaCielo Ltd.

PharmaCielo Ltd. (TSXV: PCLO) has entered into an implementation agreement to acquire all of the issued and outstanding shares and listed options of the global medical cannabis company Creso Pharma Ltd. for A$122 million. Under the agreement, PharmaCielo will pay A$0.63 per share, which is a premium of 50% over the closing trading price of the Creso Pharma shares on May 31, 2019. “PharmaCielo’s acquisition of Creso Pharma, harnessing the synergies between us, creates a combined company that is poised to become a global powerhouse in the medicinal cannabis industry,” said David Attard, CEO of PharmaCielo. “Upon closing of the transaction, the combined company will quadruple our global footprint with presence in more than a dozen countries spanning North and Latin America, Switzerland, Europe, the Middle East, Australia and New Zealand.”

Aleafia Health

Aleafia Health Inc. (TSX: ALEF) (OTC: ALEAF) (FRA: ARAH) reports that it is offering 35,000 convertible debenture units of the company, at a price of $1,000 per unit, for a total of $35 million. Leading the offering is Mackie Research Capital Corporation and BMO Capital Markets, which is acting on behalf of a syndicate of agents including Canaccord Genuity Corp.  The proceeds of the offering will be used for working capital requirement and other general corporate purposes.

Medicine Man Technologies

Medicine Man Technologies, Inc. (OTCQX: MDCL) has entered into a securities purchase agreement for the sale of up to $14 million of the company’s common stock from an affiliate of the private equity firm Dye Capital & Company. The company will use the proceeds to fund growth initiatives. The company also announced a series of pending acquisitions, including MedPharm Holdings, Colorado’s first licensed cannabis research & phytopharmaceutical company; Medicine Man Denver; Los Sueños Farms,  North America’s largest sustainable cannabis farm; and Mesa Organics, a cannabis products manufacturing company. “Dye Capital is the right partner for our Company with a unique set of skills and experience in merger and acquisition transactions, integration experience, and scaling operations.  Our entire team is excited about teaming with Dye Capital,” said Medicine Man Technologies Co-Founder and CEO Andy Williams.


William SumnerWilliam SumnerJune 5, 2019
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4min3110

It’s time for your Daily Hit of cannabis financial news for June 5, 2019.

On the Site

Free Advice For California’s Cannabis Tax Collection

Everyone knows the maxim “Free advice is worth what you pay for it”  There are, however, exceptions.  Everyone knows a second maxim “The exception that proves the rule”  In this article, we provide free advice to the California Department of Tax and Fee Administration (“CDTFA”).

Creative Digital Methods For Effectively Marketing A Cannabis Company

One of the most interesting and exciting elements to the, now emerging, legalized cannabis trade is how cannabis’ image, its past connotations and all of the potential uses that it has open to it, affects its sales and sales potential. Given that we’re talking about image, we’re really talking about marketing, and how you could creatively market something which was previously not only illegal most places, but actively frowned upon…

In Other News

Gabriella’s Kitchen

Gabriella’s Kitchen Inc. (CSE: GABY) (OTCQB: GABLF) announced that it has upsized a previously announced private placement offering of C$10 million units of the company up to C$20 million. Advised by its lead underwriter, GMP Securities L.P., the company has structured the upsized offering with a base of up to C$16 million with an over-allotment option of C$4 million. The proceeds of the offering will go towards capital expenditures, potential acquisitions, brand and sales investment, working capital, and general corporate purposes.

Medicine Man Technologies

Medicine Man Technologies, Inc. (OTCQX: MDCL) announced that it has entered into binding term sheets to acquire Colorado-based Los Sueños Farms, LLC, North America’s largest sustainable cannabis farm, and Mesa Organics Ltd., a cannabis dispensary and infused products manufacturing company. The acquisition was made possible through the passage of the Colorado measure House Bill 19-1090, which opens Colorado’s cannabis industry to outside investors.

Green Thumb Industries

Green Thumb Industries (CSE: GTII) (OTCQX: GTBIF) has announced that it has closed its acquisition of Integral Associates. Included in the acquisition is Integral Associates’ three high-traffic Essence retail stores located in the Las Vegas area, including the only cannabis retail store on the Las Vegas Strip; eight additional retail licenses in Nevada; a retail license in West Hollywood; Desert Grown Farms, a 54,000 square foot state-of-the-art cultivation and processing facility; and Cannabiotix NV, a 41,000 square foot cultivation and processing facility.


William SumnerWilliam SumnerMay 21, 2019
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5min4500

It’s time for your Daily Hit of cannabis financial news for May 21, 2019.

On the Site

New Regime Will Impact Aphria Stock

No one who follows Aphria Inc. (NYSE: APHA ) stock should have been surprised that the company’s president, Jakob Ripshtein, resigned on May 14. Ever since interim CEO Irwin Simon was appointed Independent Chair of Aphria’s board in December,  it was only a matter of time before Simon, the entrepreneurial founder and former CEO of Hain Celestial (NASDAQ: HAIN), would play a more prominent role at the Canadian cannabis company.

Australis Capital

Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) entered into an asset purchase agreement with Green Therapeutics, LLC and affiliated companies, to acquire its Tsunami, Provisions, and GT Flowers cannabis brands in a deal valued at $8 million. The deal is expected to close in late 2019.

In Other News

Innovative Industrial Properties

Innovative Industrial Properties, Inc. (NYSE: IIPR) announced that it had closed the acquisition of a property containing two buildings totaling approximately 266,000 square feet of industrial space for $13 million. IIP has also entered into a long-term, triple-net lease agreement with a subsidiary of Green Leaf Medical, LLC (Green Leaf Medical). Green Leaf Medical has already redeveloped roughly 103,000 square feet of the space for medical cannabis cultivation and processing.

Body and Mind

Body and Mind Inc. (CSE: BAMM) (OTC Pink: BMMJ) has closed a previously announced private placement offering. M Partners Inc. acted as lead agent on behalf of a syndicate of underwriters, which included PI Financial Corp. Body and Mind sold 11,780,904 units of the company at a price of C$1.25 per unit for gross proceeds of C$14.72 million. “The financing was originally planned for gross proceeds of up to CAD$10 million and we are extremely pleased with the increased interest which will allow us to accelerate our growth as a multi-state operator,” commented Body and Mind Director Robert Hasman.

48North

After the markets closed yesterday, 48North Cannabis Corp. (TSXV: NRTH) released its financial results for the three and nine month period on March 31, 2019. Revenue for the quarter was C$689,000 and C$4.3 million for the nine months period. EBITDA was C$78,000 for the quarter and C$696,000 for the nine month period. The net loss for the nine month period was C$3.3 million.

Medicine Man Technologies

Medicine Man Technologies, Inc. (OTCQX: MDCL) today announced the release of their financial results for the first quarter of 2019. Year-over-year, revenue grew by 63% to approximately $2 million. Driving much of this growth was an increase in product sales, which rose from $459,335 to $1.5 million. The net loss for the quarter was $2.9 million. “With the recent progress of HB19-1090 and the strong overall momentum within the cannabis industry, we came in this quarter with record revenues and strong sales from our products division,” said Andy Williams, Co-Founder and CEO of Medicine Man Technologies. “Looking ahead, we have several significant events that include our pending acquisitions of Medicine Man Denver and MedPharm Holdings, LLC, which will put us on a major growth trajectory and create compelling value add for our shareholders.”


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12min4600

DENVER,  May 3, 2018/AxisWire/ Medicine Man Technologies Inc. (OTCQB: MDCL) (“Medicine Man Technologies” or “Company”), one of the United States’ leading cannabis branding and consulting companies today provided financial results for the quarter ended March 31, 2018.

During the three months ending March 31, 2018, we generated revenues of $1,211,037, including consulting/licensing fees of $524,982, Cultivation Max revenue sharing of $192,545, reimbursements of $27,309, product sales of $459,335 and other revenue of $6,866. This as compared with the three months ending March 31, 2017, where we generated revenues of $541,136, of which $531,030 was related to consulting/licensing services and $10,106 was related to seminar and other revenues. By comparison, consulting and licensing revenues have remained very consistent quarter over quarter since March 31, 2017. Overall revenue increased during this three-month period over that of the prior year by $669, 901, or 124%, making this the fifth consecutive quarter on quarter revenue growth period achieved.

Costs of goods and services consisted of expenses related to the delivery of services and product procurement, totaled $373,518 during the three months ended March 31, 2018. This is compared to $165,159 during the same time period in 2017. This increase was due to the increase in sales of goods and an increase in salaries for the period.

Operating expenses during the three months ending March 31, 2018, were $1,059,367. This amount consisted of professional fees of $230,517, salaries of $466,256, advertising of $49,144 and general and administrative expense of $313,450. This as compared to general and administrative expenses incurred during the same three-month time period ending March 31, 2017, of $195,401, an increase of $118,049. Increased operating expenses during this three-month period were primarily attributable to salaries and related expenses, professional fees, as well as the cost increase of additional staff needed to service our expanding client base as reflected in our operating expense category.

As a result, we generated net income of $25,424 during the three months ending March 31, 2018 (approximately $0.001 per share), compared to net income of $112,363 during the three months ending March 31, 2017.

Brett Roper, Medicine Man Technologies’ co-founder, and CEO commented, “We are pleased to see a continuation of our quarter on quarter revenue growth trend, coupled with achieving modest profits in this quarter. We are beginning to work on strategies that will allow us to move up to a QX status company on the OTC markets later this year. When achieved, this uplisting will allow us to take better advantage of the Colorado House Bill 18-1011, which upon passing will allow fully reporting public company ownership of plant touching licenses in Colorado as we move into 2019.”

Andy Williams, Chairperson of Medicine Man Technologies’ Board of Directors added, “We are excited to be participating in the MJ Business NEXT conference next week in New Orleans where Mr. Roper will be a featured presenter and participant in the invitation-only, CEO Executive Summit. Additionally, Mr. Joshua Haupt will be participating in the Lead Cultivator program and I look forward to catching up with friends and business associates on the latest national and international trends.”
Joshua Haupt, Medicine Man Technologies’ Chief Revenue Officer stated, “We are really energized by our clients’ initial success with the deployment of our Cultivation MAX programs in Nevada and expect this service to drive increased revenues for both our Clients as well as Company well into the future. We have four new Cultivation MAX clients scheduled for full deployment between now and the end of summer and several more in our pipeline for deployment later this year.”

Since our last client update in April of 2018, the Company is pleased to report it is currently providing active cultivation support services to US-based clients in California, Illinois, Maryland, Nevada, Oregon, Ohio, and Puerto Rico as well as internationally in Canada, Germany, Australia, and South Africa, representing approximately 670,000 SF of total facility space. The Company is also working with clients seeking approvals to operate dispensary as well as cultivation facilities in Arkansas, Michigan, Massachusetts, and Pennsylvania.

About Medicine Man Technologies, Inc.
Established in March 2014, the Company secured its first client/licensee in April 2014. To date, the Company has provided guidance for several clients that have successfully secured licenses to operate cannabis businesses within their state. The Company currently has or has had active clients in California, Iowa, Oregon, Colorado, Nevada, Illinois, Michigan, Arkansas, Pennsylvania, Florida, Ohio, Maryland, New York, Massachusetts, Puerto Rico, Canada, Australia, Germany, and South Africa. We continue to focus on working with clients to 1) utilize its experience, technology, and training to help secure a license in states with newly emerging regulations, 2) deploy the Company’s highly effective variable capacity constant harvest cultivation practices through its deployment of Cultivation MAX, and eliminate the liability of single grower dependence, 3) avoid the costly mistakes generally made in start-up, 4) stay engaged with an ever expanding team of licensees and partners, all focused on quality and safety that will “share” the ever-improving experience and knowledge of the network, and 5) continuing the expansion of our Brands Warehouse concept through entry into industry based cooperative agreements and pursuing other acquisitions as they prove suitable to our overall business development strategy.

Safe Harbor Statement
This press release may contain forward-looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the Securities and Exchange Commission. Among other matters, the Medicine Man Technologies may not be able to sustain growth or achieve profitability based on many factors including, but not limited to, general stock market conditions. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC filings. We have incurred and will continue to incur significant expenses in the expansion of our existing and new service lines, noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long-term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations where we will be providing services, the impact of which cannot be predicted at this time.

To be added to the Medicine Man email distribution list, please email, MDCL@kcsa.com with MDCL in the subject line.
For more information, visit us at www.medicinemantechnologies.com;www.threealight.com

Contact Information:
KCSA Strategic Communications
MDCL@kcsa.com



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