DENVER, Colo., July 11, 2024 (GLOBE NEWSWIRE) -- Medicine Man Technologies, Inc., operating as Schwazze, (OTCPK: SHWZ) (Cboe CA: SHWZ) ("Schwazze" or the "Company"), today announced that it has finalized an agreement with two of its lenders to restructure its $15.0 million Altmore, LLC ("Altmore") Loan Agreement and its $17.0 million Reynold Greenleaf & Associates LLC ("R. Greenleaf") Promissory Note, both previously due in February 2025. This improves the Company's financial position by extending the maturities of both debt instruments to the end of 2025 and materially reducing amortization payments for the Altmore Loan Agreement. "This restructuring marks a pivotal accomplishment for Schwazze," said Forrest Hoffmaster, Interim CEO of Schwazze. "Extending the maturities for our near-term debt obligations provides us with the financial flexibility needed to execute our strategic growth initiatives in both Colorado and New Mexico. We appreciate our lenders for their support and confidence in our strategic vision. With the close of these agreements, Schwazze will have no debt maturities until November of 2025." Key terms of the amended debt instruments include: Altmore Loan Agreement 9-month maturity date extension from February 2025 to November 2025. Reduction of quarterly principal payment from $750,000 to $300,000, which became effective in the Q2 2024 payment. Additionally, the Company will pay a quarterly administrative fee of $75,000. No change in interest rate of 15%. R. Greenleaf Promissory Note 9-month maturity date extension, subject to certain conditions contained in the amendment, from February 2025 to November 2025 for 90% of the principal amount. The remaining 10% of the principal amount will be paid in February 2025. No change in interest rate of 5%. About Schwazze Schwazze (OTCPK: SHWZ) (Cboe CA: SHWZ) is building a premier vertically integrated ...