<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2023-08-15</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001622879</issuerCik>
        <issuerName>Medicine Man Technologies, Inc.</issuerName>
        <issuerTradingSymbol>SHWZ</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001825751</rptOwnerCik>
            <rptOwnerName>Garwood Jeff</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MEDICINE MAN TECHNOLOGIES, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>4880 HAVANA ST., STE. 201</rptOwnerStreet2>
            <rptOwnerCity>DENVER</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80239</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
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                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2023-08-15</value>
            </transactionDate>
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                <transactionCode>P</transactionCode>
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            </transactionCoding>
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            <transactionAmounts>
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                    <value>1500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.74</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
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                <sharesOwnedFollowingTransaction>
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            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
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            </ownershipNature>
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        <nonDerivativeTransaction>
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                </transactionShares>
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        <nonDerivativeTransaction>
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                <value>Common Stock</value>
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            <transactionDate>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <ownerSignature>
        <signatureName>/s/ Daniel R. Pabon, attorney in fact for Jeffrey R. Garwood</signatureName>
        <signatureDate>2023-09-06</signatureDate>
    </ownerSignature>
</ownershipDocument>
