Two prominent Colorado cannabis consulting firms combined Tuesday when Medicine Man Technologies announced it has agreed to acquire Denver Consulting Group.
Denver Consulting Group (DCG) valued the deal at $3.5 million.
Under the agreement, publicly traded Medicine Man Technologies (OTCQB: MDCL) will issue 2,258,065 of its shares to members of Denver Consulting Group, according to a news release. Shares of Denver-based Medicine Man closed Tuesday at $1.58.
The transaction continues a trend of mergers and acquisitions in the maturing marijuana industry in the past year.
It’s Medicine Man’s