MJ Biz report
Schwazze added to its growing list of scuttled deals by terminating its planned acquisition of a fellow Denver-based cannabis company, infused edibles manufacturer Canyon.
According to the company’s 8-K filing on Oct. 9, the term sheet that detailed Schwazze’s purchase of all of Canyon’s assets expired Sept. 7.
The original agreement, one of 11 acquisitions Schwazze made in 2019, was a $5.1 million cash and stock deal that would have limited the company to paying no more than $2.6 million in cash for the 10-year-old Canyon.
Schwazze scraps deal to purchase Colorado marijuana edibles maker
