US (CO): ACC to acquire Colorado Springs-based operation

American Cannabis Company has acquired the assets and operations of Medihemp and its wholly owned subsidiary SLAM Enterprises, and Medical Cannabis Caregivers, all doing business as Naturaleaf™, located in the metropolitan area of Colorado Springs, Colorado. A long-standing and reputable medical cannabis retailer in a thriving market, Naturaleaf™ operates three licensed medical marijuana centers, including a 10,000 square foot cultivation facility containing non-volatile extraction facilities, and has provided patients with quality cannabis, cannabis-derived products and related accessories for over ten years.

“For over a decade, Naturaleaf™ has built a brand name that truly speaks for itself. Providing medical quality cannabis and products to its loyal customer base of registered patients through a one-on-one retail concierge experience, this acquisition is something that our team is excited for as we look to improve the overall business performance and increase revenues while maintaining brand integrity,” said Terry Buffalo, CEO of American Cannabis Company.

Buffalo continued, “Through the due diligence process our team identified key performance indicators that we will use as a baseline to improve revenue, operational costs, and identify market trends as a means to fulfill the ever-growing demand. We expect this acquisition to bring in over $2.2mm in gross revenue, and we look to increase upon that. For more details, please read the Company’s most recent 8-K filing. All of the documents required to be filed to complete transfer of the licenses have been filed with the appropriate regulatory agencies, and we anticipate closing the transaction after final regulatory approval, which we expect in the second quarter.”

Scott Saunders, owner of Naturaleaf™, commented: “We are very happy to have Naturaleaf™ join the American Cannabis Company portfolio of brand assets. The staff is excited to transition under the ownership of a public company as this industry continues to emerge and expand, and I am excited for the people of Colorado Springs and Southern Colorado to see what American Cannabis Company can do to a brand that the team and I have spent years building.”