Medicine Man Technologies Inc (SHWZ): Colorado Harvest Company is 0 for 2:...

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Medicine Man Technologies Inc (SHWZ)

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Tuesday, 11/30/2021 8:28:41 PM

Tuesday, November 30, 2021 8:28:41 PM

Colorado Harvest Company is 0 for 2:

DENVER, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Denver-based Colorado Harvest Company (CHC) terminated the term sheet with Florida-based Stem Holdings. The term sheet, dated September 29, 2021, was for the purchase of all Colorado Harvest Company's retail, production, and delivery licenses located in both Denver and Aurora, Colorado. Stem approached Colorado Harvest Company after CHC obtained the first recreational delivery license in the state of Colorado earlier this year. The two parties agreed to work towards a closing in December of 2021. Delays by Stem Holdings pushed that closing date well into 2022. The offer to extend the contract was ultimately rejected and the term sheet voided.

Colorado Harvest Company CEO Tim Cullen says, “We were disappointed to have to walk away from Stem, but when one door closes another opens.”

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