Schwazze has signed definitive documents to acquire certain assets of Lightshade Labs.
The proposed transaction includes the adult-use Lightshade dispensaries located at 503 Havana St. in Aurora, as well as 2215 E. Mississippi Ave. in Denver's Washington Park neighborhood. This acquisition continues Schwazze's expansion in Colorado and upon close will bring the company's total number of Colorado dispensaries to 25.
The consideration for the proposed acquisition is $2.75 million and will be paid as all cash. The acquisition is expected to close in the first quarter of 2023 after Colorado Marijuana Enforcement Division and local licensing approval.
Since April 2020, Schwazze has acquired or announced the planned acquisition of 35 cannabis dispensaries as well as seven cultivation facilities and two manufacturing assets in Colorado and New Mexico. In May 2021, Schwazze announced its BioSciences division and in August 2021 it commenced home delivery services in Colorado.