Medicine Man Technologies Adds Marijuana Research Company, Branded Product Lines
and Intellectual Property Development Capabilities to Their International Base of Over 100
DENVER, CO/ January 15, 2019 / Medicine Man Technologies (OTCQX: MDCL), a leading consulting, IP licensing and products company in the cannabis industry, has signed binding term sheets and conditions for acquisition of MedPharm Holdings, LLC, an intellectual property development and holding company focused on cannabis research and product/brand development.
MedPharm Holdings, LLC provides extraction expertise, cannabis pharmaceutical-grade
dosage forms using current “Good Manufacturing Practices” that include pre-formulation;
formulation development; commercial manufacturing; analytical method development and
validation; and routine quality control analysis and stability studies.
MedPharm’s capabilities also allow for in-depth analysis to include clinical studies. MedPharm’s popular
brands include: Aliviar, a medically focused line with a proprietary blend of cannabinoids,
terpenes, niosomes, essential oils and other excipients; become, a pure cannabis
concentrate marketed to the female demographic and BATCH, high-quality extracts for the
MedPharm Holdings, LLC has two licensees. The first is MX, LLC in Colorado, an extraction
and marijuana-infused products company, which holds the only Colorado state cannabis
research license. The second is MedPharm Iowa, a vertically integrated medical marijuana
company. MedPharm Holdings, LLC also has a pending application for a federal research
Bulk Manufacturer license to provide cannabis and cannabis dosage forms for research
purposes. MedPharm Holdings, LLC is currently solidifying an international expansion in South
America and evaluating opportunities in other continents.
”This planned acquisition of MedPharm Holdings, LLC brings world-class processing,
research and pharmaceutical-grade products to the Medicine Man Technologies’ portfolio.
This is a significant step in becoming a dominant global operator, filling a key gap in our
current products and services,” says Andy Williams, Medicine Man Technologies’ Chief
Executive Officer. ”We have had clients in 17 states and seven countries, this highly
scalable product line allows us to leverage those existing relationships worldwide.”
The acquisition of MedPharm Holdings, LLC is expected to close sometime in the first
quarter of 2019 pending completion of due diligence.
About Medicine Man Technologies, Inc.
Established in March 2014, the Company secured its first client/licensee in April 2014. To
date, the Company has provided guidance for several clients that have successfully secured
licenses to operate cannabis businesses within their state.
The Company currently has or has had active clients in California, Iowa, Oregon, Colorado, Nevada, Illinois, Michigan, Arkansas, Pennsylvania, Florida, Ohio, Maryland, New York, Oklahoma, Massachusetts, Puerto Rico, Canada, Australia, Germany, and South Africa. The Company continues to focus on working with clients to 1) utilize its experience, technology, and training to help secure
a license in states with newly emerging regulations, 2) deploy the Company’s highly
effective variable capacity constant harvest cultivation practices through its deployment of
Cultivation MAX, and eliminate the liability of single grower dependence, 3) avoid the
costly mistakes generally made in start-up, 4) stay engaged with an ever expanding team of licensees and partners, all focused on quality and safety that will “share” the ever-improving experience and knowledge of the network, and 5) continuing the expansion of our Brands Warehouse concept through entry into industry based cooperative agreements and pursuing other acquisitions as they prove suitable to our overall business development strategy.
Safe Harbor Statement
This press release may contain forward-looking statements which are based on current
expectations, forecasts, and assumptions that involve risks and uncertainties that could
cause actual outcomes and results to differ materially from those anticipated or expected,
including statements related to the amount and timing of expected revenues and any
payment of dividends on our common and preferred stock, statements related to our
financial performance, expected income, distributions, and future growth for upcoming
quarterly and annual periods. These risks and uncertainties are further defined in filings
and reports by the Company with the U.S. Securities and Exchange Commission (SEC).
Actual results and the timing of certain events could differ materially from those projected
in or contemplated by the forward-looking statements due to a number of factors detailed
from time to time in our filings with the Securities and Exchange Commission. Among other
matters, the Medicine Man Technologies may not be able to sustain growth or achieve
profitability based on many factors including, but not limited to, general stock market
conditions. Reference is hereby made to cautionary statements set forth in the Company’s
most recent SEC filings. We have incurred and will continue to incur significant expenses in
the expansion of our existing and new service lines, noting there is no assurance that we
will generate enough revenues to offset those costs in both the near and long-term.
Additional service offerings may expose us to additional legal and regulatory costs and
unknown exposure(s) based upon the various geopolitical locations where we will be
providing services, the impact of which cannot be predicted at this time.