Medicine Man Technologies buying Colorado marijuana firm for $31 million

Denver-based Medicine Man Technologies continues its recent acquisition tear, announcing on Wednesday it is paying $31 million in stock and cash for Strawberry Fields, a cannabis operator based in Colorado Springs, Colorado.

Strawberry Fields, which has worked with Medicine Man Technologies for many years, owns four recreational dispensaries in Colorado – two in Pueblo – and operates a greenhouse grow.

Medicine Man Technologies has announced 10 acquisitions this year, including the purchase of 34 dispensaries.

One of its most significant transactions was the purchase of Los Sueños Farms in Pueblo, the biggest outdoor marijuana grow in Colorado.

The Strawberry Fields purchase will be funded with $14 million in cash and $17 million in stock priced at $2.98 a share.

Medicine Man Technologies trades on the over-the-counter markets under the ticker symbol MDCL.

More details about the company’s latest acquisition can be found here.

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