Medicine Man Technologies has entered into binding term sheets to acquire the assets and rights from Colorado-based Los Sueños Farms, LLC – which bills itself as North America’s largest sustainable cannabis farm.
Medicine Man has also entered into a binding term to acquire Mesa Organics Ltd (aka Purplebee’s), Mesa Organics II Ltd. and Mesa Organics III Ltd. (collectively “MesaPur”), a cannabis dispensary and infused products manufacturing company, utilizing pure CO2 extracts from the finest locally-grown cannabis in Colorado.
These acquisitions will increase Medicine Man Technologies’ footprint and expand its operations in cultivation, extraction, production and sales, advancing its plan to become a fully vertically integrated operator in the cannabis industry.
The acquisition of Los Sueños and MesaPur was made possible by the passage of House Bill 19-1090, which was signed into law by Colorado’s Governor Jared Polis on May 29th, opening up Colorado’s cannabis industry to outside investors and enabling increased investment by venture capitalists and private equity firms.
The term sheet with MesaPur provides for the appointment of Bob DeGabrielle, Founder of Los Sueños, to the Board of Medicine Man Technologies.
Prior to owning the largest recreational cannabis cultivation facility in the country, DeGabrielle background was in real estate development. He was an early investor in the cannabis space and, along with his partners, has invested $10 million in Colorado’s tightly regulated industry, which requires that every plant grown by a licensed operator be entered into a database, outfitted with a radio frequency tag, and tracked from seed to sale.
“Since our inception, we have been focused on delivering the best products and cultivation methods, and the addition of Los Sueños Farms will play an integral role in our core business and service offerings,” said Mr. Andy Williams, Co-Founder and Chief Executive Officer of Medicine Man Technologies.
“We also identified another key acquisition opportunity with one of Colorado’s leading dispensary and manufacturing companies: Purplebee’s. They are an established leader in providing high quality premium products that align with our vision and mission. We believe these two acquisitions will put us on a trajectory for accelerated growth, and secure Medicine Man Technologies as a leader in cannabis operations worldwide.”
Los Sueños is the largest cannabis farm in North America, with 36 acres of rich farmland under cultivation with natural sun-grown cannabis, and an additional 36,000 square feet of cannabis greenhouses.
Los Sueños has developed state-of-the-art technologies and systems to produce, harvest and process all of its cannabis biomass to meet the market’s wholesale needs through its extraction partner, Purplebee’s.
Purplebee’s is a family-owned business that is veteran and woman-owned and operated. The Company’s pure CO2 products are extracted using advanced supercritical carbon dioxide technology and never contain hydrocarbons such as butane or other additives.Cannabis Business Worldwide