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Medicine Man Technologies Inc. Names Co-Founder Andy Williams as Chief Executive Officer
Williams served as interim CEO for five months; continues to spearhead pending acquisitions of MedPharm Holdings LLC and Medicine Man Denver
DENVER, April 23, 2019 /PRNewswire/ — Medicine Man Technologies Inc. (OTCQX: MDCL) (“Medicine Man Technologies” or “Company”), a rapidly growing, vertically integrated operator, announced that the Company has named Co-Founder Andy Williams as Chief Executive Officer after serving as interim CEO for the past five months.
Williams was named as the interim CEO in early December, after the untimely passing of Brett Roper, Medicine Man Technologies’ previous CEO. As interim CEO, Williams has supervised the pending transactions of MedPharm Holdings LLC and Medicine Man Denver, the former of which is expected to close in June. The combined companies will have a revenue run rate between $40 and $50 million.
As Co-Founder of Medicine Man, I am extremely proud of the brand we have built and where we are today. These are exciting times as we move toward our ultimate goal of becoming a vertically integrated cannabis operator. I am honored to continue Brett’s legacy by leading Medicine Man Technologies’ future growth and our long-term success.
Mr. Andy Williams
The MedPharm acquisition will come with the only cannabis research license to develop pharmaceutical-grade products using best-in-class extraction, analytical testing and formulation development to help better understand various diseases including Alzheimer’s and dementia.
The pending acquisition of Medicine Man Denver includes four Colorado retail locations and a 40,000-square-foot cultivation operation that will add an estimated $25 million of annual revenue to Medicine Man Technologies. The Medicine Man Denver acquisition is pending the passing of House Bill 19-1090 in the Colorado state legislature, which will allow publicly traded companies to own and operate cannabis licenses.
For more information about Medicine Man Technologies, please visit https://www.medicinemantechnologies.com/.
About Medicine Man Technologies
Medicine Man Technologies is a fully integrated operator in the cannabis industry, offering consulting, cultivation supplies and equipment, retail pharma-grade products and turnkey solutions for cannabis producers, processors and retailers for nearly a decade. Medicine Man Technologies is leveraging its expertise and intellectual property to vertically integrate retail, cultivation, formulation and distribution operations. The Company’s client portfolio includes active and past clients in 18 states and seven countries.
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