2 Firms Guide Schwazze's $11.3M Colo. Pot Grow Land Buy

By Emilie Ruscoe (July 22, 2021, 8:26 PM EDT) -- Cannabis company Schwazze said Thursday it has closed an $11.3 million deal steered by Perkins Coie LLP and Tonkon Torp LLP to acquire 34 acres of land set up for marijuana cultivation, marking its first major foray into growing its own plants to supply its Star Buds dispensary chain and its PurpleBee extraction operation.

The deal will see Schwazze pick up all the assets of Huerfano County's Southern Colorado Growers, and the multimillion dollar purchase price comprises $5.9 million in cash and $5.4 million in Schwazze stock, the company said.

In a Thursday statement, Schwazze's Chief Executive Justin Dye said the...

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