One of Colorado’s fastest-growing cannabis companies has a new look. Medicine Man Technologies (MMT) is announcing a new brand, Schwazze, which will be an overarching parent company for MMT and its collection of brands. The publicly-traded company is now listed under the OTC ticker symbol “SHWZ.”
Schwazze refers to a cultivation process, and the company’s new CEO told TechCrunch the name change reflects the company’s focus. “It is the core process within nurturing and growing a plant by taking the leaves off very carefully to allow the trunk to grow and widen, providing more nutrients to the flower in the canopy.”
“It’s incredibly important. It spurs growth and health,” Schwazze CEO Justin Dye said, referring to the Schwazze method.
The company will keep the Medicine Man Technologies brand as its professional services arm.
In late 2019, the company announced a handful of planned acquisitions and hired Dye as its new CEO. This week, Dye announced the company had purchased Mesa Organics and Purplebee’s, both Colorado-based cannabis companies founded by James Parco, Ph.D., a tenured professor at Colorado College. Parco is joining Schwazze’s management team. This purchase adds several dispensaries and an advanced extractor to Schwazze’s portfolio.
“They’re [Mesa Organics and Purplebee’s] a great company,” Dye said, “They’re growing quickly, they’re very profitable and have a great management team. They have a great leader who’s joining our team.”
Schwazze isn’t letting the COVID-19 crisis slow its growth. The company intends to scoop up additional dispensaries, cultivators, and manufacturers as it grows with Colorado.