DENVER, CO / ACCESSWIRE / October 2, 2017 / Medicine Man Technologies Inc. (OTCQB:MDCL) (“Medicine Man” or “Company”), one of the United States’ leading cannabis branding and consulting companies, is pleased to provide an update on new client activity.
Since its last update provided on August 17th, Medicine Man has entered into twelve new license and or service agreements including two Arkansas dispensary application support agreements (which have now been filed), two Puerto Rico cultivation deployment agreements (final deployment will be delayed due to the Hurricane Maria’s impact on the island), one Canadian LP cultivation services deployment agreement, two Ohio dispensary application support agreements, one South Africa client cultivation consulting agreement, one Pueblo, Colorado cultivation support agreement (greenhouse deployment), and one Michigan cultivation services client, and two California cultivation clients. The Company currently has fifty-eight active clients in California, Oregon, Colorado, Nevada, Illinois, Michigan, Arkansas, Pennsylvania, Florida, Ohio, Maryland, and Puerto Rico in the United States and territories, and Australia, Canada, and South Africa, internationally.
Additionally, the Company’s Denver Consulting Group (DCG) team recently secured a dispensary license for a Long Beach, California client and expects to engage new clients in Ohio as well as Michigan in the near-term. With this new client win, the DCG unit currently accounts for ten accounts from Medicine Man’s current client base.
Brett Roper, Medicine Man’s CEO, commented, “We have seen a substantial uptick in international discussions as Medicine Man’s reputation and new client pipeline continues to grow, highlighted by potential clients visiting from Germany, Australia, and Israel in recent weeks. These inquiries have been driven by a need among cannabis growers to create both a higher quality, GMP based indoor growing environment as well as a desire to increase the efficiency of operating cultivation related facilities. I feel that our indoor and greenhouse highly efficient cultivation related methodology provides this advantage to clients such as these and more importantly, provides us with a substantial advantage in generating quality leads.”
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About Medicine Man Technologies, Inc.
Established in March 2014, the Company secured its first client/licensee in April 2014. To date, the Company has provided guidance for several clients that have successfully secured licenses to operate cannabis businesses within their state. It currently has twenty eight active clients in 12 states and Puerto Rico, focusing on working with clients to 1) utilize its experience, technology, and training to help secure a license in states with newly emerging regulations, 2) deploy the Company’s highly effective variable capacity constant harvest cultivation practices through its deployment of Cultivation MAX, and eliminate the liability of single grower dependence, 3) avoid the costly mistakes generally made in start-up, 4) stay engaged with an ever expanding team of licensees and partners, all focused on quality and safety that will “share” the ever-improving experience and knowledge of the network, and 5) continuing the expansion of its Brands Warehouse concept.
Safe Harbor Statement
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the Securities and Exchange Commission. Among other matters, the Medicine Man Technologies may not be able to sustain growth or achieve profitability based upon many factors including, but not limited to, general stock market conditions. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC filings. We have incurred and will continue to incur significant expenses in our expansion of our existing and new service lines, noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations where we will be providing services, the impact of which cannot be predicted at this time.
KCSA Strategic Communications
SOURCE: Medicine Man Technologies Inc.