New Locations. Schwazze filed a form 8-K Tuesday night detailing the agreement to purchase two new Colorado locations from Smoke Holdco, LLC. The purchase is for two dispensaries, one in Fort Collins and the other in Garden City, CO. The purchase price is up to $7.5 million, with $3.75 million in cash and $3.15 million in SHWZ shares payable at closing. As always, closing is dependent upon state regulatory approval.
A Move North. The two new locations represent a move by Schwazze into northern Colorado. Fort Collins is approximately 65 miles north of Denver, while Garden City is about 60 miles northeast of Denver. Previously, the most northern location was about 30 miles north of Denver in Longmont. Fort Collins is about 45 minutes south of Cheyenne, Wyoming, a state in which cannabis remains illegal.
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