Medicine Man Technologies Provides General Performance Update and a Client

Medicine Man Technologies Provides a Client and General Performance Update

Medicine Man Technologies Inc. (OTCQX: MDCL), among the United States’ top cannabis branding and consulting companies now provided the following client and business update.

In September of 2018 our customer, Grow Ohio Pharmaceutical became the Level 1 marijuana cultivator to be given a Certificate of Operation. The company square foot facility is located on ten acres of reclaimed mining property in Zanesville, Ohio in Muskingum County. Grow Ohio Pharmaceutical was the next Level 1 provisional licensee to convert into a cultivation based permit that is operational. They expect to receive clearance in the not too distant future for operational status of the processing permit also as one of just seven processor licensees receiving provisional approved so far.

In late July LLC of Pennsylvania, our customer Enterprises was granted a Processing and Cultivation permit related to the Northwest Region of the state, achieving the third highest score in this next form of licensing which included over 100 applications. Calypso expects to be fully operational in the second quarter of 2019. It is also notable that both Pennsylvania and Ohio have a number of licenses, supporting a medical mandate and that both customers are Cultivation MAX licensees.

The Company continues to work with its Canadian partner, Canada House Wellness (CHV) as they prepare to provide access to our combined IP and Success Nutrients line throughout Canada.

“Yesterday, we advanced our listing status from OTCQB into the OTCQX Marketplace which we believe will provide greater access to capital and open Medicine Man Technologies into a broader range of investors,” Brett Roper, Medicine Man Technologies’ co-founder and Chief Executive Officer commented. “This is a important step as we continue to expand our presence among the leading cannabis consultancies both domestically and globally.”

Mr. Roper continued,”We also hope to exceed the guidance as provided in late July and as related to our 3rd quarter’s performance wherein we indicated a $4.5M revenue cycle with substantial profitability. Medicine Man Technologies is continuing to execute on its vision of growth and expansion that has been built upon a clearly defined route to adulthood as achieved in the first three quarters of this year.”

Andy Williams, Chairperson of Medicine Man Technologies’ Board of Directors added,”As we continue to demonstrate our customer facing skills in the Cannabis market, we’re confident we will be able to build on this base moving forward with our plans to become premier operator/owners in the decades ahead. We believe this evolution to a”plant touching” or an operating firm combined with our history and strong reputation in the business provides for the creation of sustainable shareholder value based upon a sustainable route to profitability as we’re currently demonstrating.”

About Medication Man Technologies, Inc..

Established in March 2014, the Company secured its first. To date, the Company has provided guidance for many clients that have secured licenses to operate cannabis companies in their state. We continue to focus on working with customers to 1) utilize its expertise, technology, and training to help secure a permit in states with newly emerging regulations, 2) deploy the business’s highly effective variable capacity constant harvest cultivation practices through its deployment of Cultivation MAX, and remove the liability of single grower dependence, 3) avoid the costly mistakes normally made in start-up, 4) stay engaged with an ever expanding team of licensees and partners, all focused on quality and safety that will”discuss” the ever-improving expertise and knowledge of the community, and 5) continuing the expansion of our Brands Warehouse concept through entry into business based cooperative agreements and pursuing other acquisitions as they prove appropriate to our overall business development strategy.

This media 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 earnings and any payment of dividends on our common and preferred stock, statements related to our financial performance, expected earnings, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further described 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 because of variety of factors. Among other things, the Medicine Man Technologies may not be able achieve profitability based upon factors including, but not limited to stock market conditions or to maintain growth. Reference is made to statements set forth in the Company’s most recent SEC filings. We have incurred and will continue to incur substantial expenses in the expansion of our existing and new service lines, noting there is no assurance that we will generate enough revenues to offset those costs in the near and long-term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the many geopolitical locations where we will be providing services, the effect of which cannot be predicted at this time.

To be added to the Medicine Man email distribution list, please email, [email protected] with MDCL in the topic line.

Contact Info:

KCSA Strategic Communications
[email protected]

Published at Tue, 09 October 2018 13:42:31 +0000

Posted in: News

Comments are closed.