Medicine Man to acquire Roots Rx

|About: Medicine Man Technologies,... (MDCL)|By:, SA News Editor

Medicine Man Technologies (OTCQB:MDCL) inks a binding term sheet to acquire Roots Rx, a cannabis operator with six dispensaries based in Colorado for $15M. The Company will also acquire Roots Rx's outdoor cultivation facilities located outside of Aspen.

Under the terms of the transaction, MDCL will pay $7.5M in cash, 1,779,661 common shares at $2.95/share, and a deferred cash payment of $2.25M.

The six dispensaries are located in Aspen, Basalt, Eagle-Vail, Edwards, Leadville, and Gunnison.

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