Schwazze, a publicly traded marijuana ownership company based in Denver, just agreed to buy three Colorado dispensaries over a two-day span.
In announcements issued on November 15 and November 16, Schwazze outlined acquisition agreements for Smokin Gun Apothecary and Emerald Fields dispensaries. Both deals are pending approval from the Colorado Marijuana Enforcement Division (MED), and are expected to close within 75 days.
Schwazze will pay $4 million in cash and 100,000 stock shares in exchange for the Smokin Gun and the dispensary’s attached LLCs, according to the announcement.
A Western-themed pot shop next to Shotgun Willie’s strip club in Glendale, the Smokin Gun was co-founded in 2016 by Deborah Dunafon, who also owns Shotgun Willie’s. The dispensary had big plans for social pot consumption throughout its run, but the hospitality hopes never materialized. Shortly after the Smokin Gun secured a pot consumption license from the MED and Glendale City Council approved dispensary tasting rooms, the COVID-19 pandemic hit, and the dispensary’s consumption license was withdrawn.
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