Schwazze Terminates Deal To Acquire Cannabis-infused Edibles Maker CanyonPosted by On

Cannabis company Schwazze, which went on an acquisition spree in 2019, has terminated yet another proposed acquisition this year.

Schwazze, formerly operating as Medicine Man Technologies Inc., said in a regulatory filing that it has terminated its proposed acquisition of Canyon LLC, a Colorado-based manufacturer of cannabis-infused edibles.

Denver-based Schwazze said that a binding term sheet to acquire all of the assets and outstanding capital stock of Canyon and It Brand Enterprises was formally terminated, as the term sheet expired on September 7, 2020.

In September 2019, Schwazze said it agreed to acquire Canyon for $5.13 million in cash and stock. The company noted that the acquisition will increase its manufacturing efficiencies and branded product offerings.

Canyon’s products include hard candies, suckers, capsules, and cannabis-infused nitro brew coffee.

Earlier this year, Schwazze said it had moved forward on numerous term sheets with Colorado cannabis operators, but had…

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