NEWS BRIEF

Schwazze buys indoor cannabis cultivation company for $6.7 million

Continuing a string of acquisitions, Colorado-based Schwazze signed a deal to purchase Denver indoor cannabis cultivation company Brow 2 for $6.7 million.

The deal includes a 37,000-square-foot building with 27,000 square feet of canopy, according to a news release.

The grow will provide product directly to Colorado retail chain Star Buds, which Schwazze acquired in March.

In July, Schwazze bought a 34-acre marijuana grow in southern Colorado for $11.3 million.

“The new facility will supply our growing network of dispensaries and customers with a broad assortment of high-quality indoor flower,” Justin Dye, Schwazze’s CEO, said in the release.

Schwazze, formerly known as Medicine Man Technologies, trades on the over-the-counter markets as SHWZ.

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