8/18/2023 0 Comments Dabble extracts twitter![]() ![]() "Some of the smaller guys who were still getting away with cutting corners will get weeded out. It could be positive if you've got quality operators in charge of multiple operations," he says. "It could be positive and could be negative. The Dabble brand will remain intact, according to founder Josh Hindi, who will stay on to run the company as a branch of Medicine Man Technologies after the purchase goes through. As larger companies like Medicine Man Technologies start swallowing smaller brands like Dabble, Hindi expects changes to the state's pot industry above and below the surface. Because Medicine Man Technologies is a publicly held company, it's banned from entering Colorado's marijuana industry under current investment regulations, most of which will be replaced by the new law stemming from HB 1090. However, the purchase can't officially go through until November 1 at the earliest, because that's when the language of House Bill 1090 goes into effect. ![]() ![]() "The proposed acquisition of Dabble Extracts will further enhance our product portfolio, as it will bring the expertise and unique extraction capabilities necessary to create high-quality cannabis concentrates in the form of shatter and wax products," Medicine Man Technologies CEO Andy Williams says in a statement confirming the sale. According to the terms, the publicly held Medicine Man Technologies will pay $3.75 million for Dabble: $750,000 in cash and $3 million worth of Medicine Man Technologies stock holdings. On August 12, Medicine Man Technologies announced plans to acquire Dabble Extracts, a Colorado Springs marijuana extraction company. The Denver-based business conglomerate announced another acquisition this week, the sixth marijuana company that Medicine Man Technologies has agreed to purchase over the past three months. All rights reserved.That's how the narrator of the trailer for the 1958 horror movie The Blob described an alien life form that engulfs everything it touches, but he might as well have been talking about Medicine Man Technologies. Benzinga does not provide investment advice. The Week In Cannabis: A New Global Leader, Moves In UK And Colombia, ETFs Outperform The Week In Cannabis: CannTrust Continues Fall, Earnings A Mixed Bag, Clio Goes Green The Week In Cannabis: Linton Bullish On Canopy Miley Cyrus, Sarah Silverman, Other Celebs Back Cannabis Company Canada's New R&D License And More Once all these pending transactions close, Medicine Man Technologies "will have significant synergies that allow us to have a more efficient vertically integrated supply chain." ![]() “Industry pioneers and co-Founders Tim Cullen and Ralph Morgan bring a wealth of retail experience, and their proprietary, all-natural strains are a great addition to our portfolio of products,” he said. 22-23 in Chicago.Ĭommenting on the latest acquisition and the company’s strong M&A activity this year, CEO Andy Williams told Benzinga Colorado Harvest Company will help expand Medicine Man’s footprint in the Denver Metro area, while also providing an opportunity to cross-sell the company’s “extensive line of cannabis products –upon closing of our pending acquisitions." Click here for more information about the upcoming Benzinga Cannabis Capital Conference Oct. ![]()
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