Founder Andy Williams exits cannabis firm Medicine Man Technologies

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Marijuana pioneer Andy Williams announced on Friday he is leaving Denver-based Medicine Man Technologies, the vertically integrated MJ company he founded in 2014.

Williams, who was president and vice chair, is leaving Medicine Man to focus on cannabis medical and genetic research, the company said in a news release.

He also will pursue new opportunities in the cannabis industry.

His departure comes after Dye Capital, a private equity firm based in Boca Raton, Florida, provided a significant cash injection into Medicine Man.

Justin Dye, managing general partner at Dye Capital, became Medicine Man’s CEO in December.

Williams, in a statement, said he is confident Medicine Man “will continue to deliver on its aggressive growth strategy and will become a global leader in the near future.”

Last year, Medicine Man went on a $300 million buying spree.

Dye said in a statement that Medicine Man is on schedule to close its pending acquisitions in the first half of this year.

Williams was named CEO of Medicine Man last April, after the abrupt death of Brett Roper, who had held the top position.