Company News: August 22, 2019 12:18pm EDT
Poised to Commence Cannabis Operations in Massachusetts
NORWOOD, Mass., Aug. 22, 2019 (GLOBE NEWSWIRE) -- MariMed Inc. (OTCQX: MRMD), a premier cannabis and hemp multi-state operator focused on health and wellness, has received a certificate of occupancy from the city of New Bedford, Massachusetts for its new cannabis cultivation and manufacturing facility.
“ARL Healthcare, our Massachusetts cannabis licensed subsidiary, will now schedule its final state inspection to be cleared to commence full operations of its cultivation, production and dispensary,” said Bob Fireman, MariMed’s CEO. “The state inspection will also include our completed 10,000 sf dispensary located in Middleborough, Massachusetts.”
The New Bedford manufacturing facility is part of a 137,000 sf building situated on 17 acres providing for future growth and expansion. This state-of-the-art cannabis production facility will open with 34,000 sf of canopy growing space, which will be processed in its GMP standard production laboratory and commercial kitchen.
ARL Healthcare has already run local job fairs and commenced hiring and training some top individuals both in New Bedford and Middleborough, as part of its commitment to these municipalities. It intends to create over 100 new jobs in total in Massachusetts.
MariMed will be introducing into the Massachusetts marketplace its top brands and products that have had great success in other state facilities under its management. This will include its flower brand Nature’s Heritage™ with its proprietary genetics and strains; its infused product brands Betty’s Eddies™, and Kalm Fusion™; and its exclusive licensed brands “The Healer,” “Binske,” “Tikun Olam,” “Lucid Moods,” “Dab Tabs” and others. These products will be made in the New Bedford facility and will be sold through company dispensaries as well as distributed to the wholesale market.
“We are delighted to be entering into the Massachusetts market with its current shortage of supply,” noted Fireman. “ARL Healthcare is now a wholly owned subsidiary, as we work towards completing the consolidation of our managed licensed clients in multiple states. As such, the revenue from this operation will be reflected in our public company results.”
ARL Healthcare under its RMD license, has three permits for dispensaries in Massachusetts. Middleborough will be first to open with the other two currently in the implementation process. The company intends to become one of the largest wholesale producers in Massachusetts to support both the medical and adult use markets and is positioned for great success in Massachusetts.
MariMed Introduces Licensed Nature’s Heritage Cannabis® Brand in Maryland (April 2018)
https://globenewswire.com/news-release/2018/04/24/1486187/0/en/MariMed-Introduces-Licensed-Nature-s-Heritage-Cannabis-Brand-in-Maryland.html Nature’s Heritage Cannabis is Rooted in Excellence: “The best cannabis Mother Earth has to offer”
MariMed's Nature's Heritage Cannabis (tm) products: Rooted in Excellence
MariMed’s new Nature’s Heritage Cannabis™ branded products are “rooted in excellence” -- produced from the finest marijuana seed lineages from across the globe. Produced and distributed by Kind Therapeutics USA they are now available in dispensaries throughout Maryland.
NEWTON, Mass. and HAGERSTOWN, Md., April 24, 2018 (GLOBE NEWSWIRE) -- MariMed Inc. (OTCQB:MRMD) and Kind Therapeutics USA today debuted Nature’s Heritage Cannabis®, a branded line of organic marijuana products that is “Rooted in Excellence.” MariMed has sought out the finest seed lineages in the world and developed them into “The best cannabis Mother Earth has to offer®.” MariMed selected only the best strains that perfectly embody the rich heritage and subtle nuances of their origins. Nature’s Heritage Cannabis products are produced from genetically pure strains, now 100% organically grown at the Kind Therapeutics USA’s state licensed cultivation facility in Hagerstown, Maryland. This facility is managed by MariMed Inc.
Nature’s Heritage Cannabis branded products include:
- Flower – bulk and prepackaged. Each natural bud is coated in crystal-like resin rich with THC and CBD.
Concentrates – CO2 wax, live resin, shatter, CO2 terp sauce and budder skillfully made from choice strains, capturing the smell, taste and effects of the original plant.
Vape Pens – cartridges and mini pens, and disposable pens contain premium oil that has been extracted from the world’s finest cannabis plants, preserving the aroma, flavor and effect of the original plant.
Extracts – tinctures, capsules, topicals and RSO syringes. Famous for its cancer wonders, pure RSO oil is 100% pure premium cannabis oil with all the cannabinoids that offer the same beneficial effects as the original plant in easy to use products.
“Nature’s Heritage Cannabis is all about experiencing the rich heritage and medicinal benefits of the finest lines of cannabis from every corner of the world,” stated Tim Shaw, MariMed COO who heads up Product Development. “’Each product is stamped with ‘Rooted in Excellence,’ which exemplifies how we have gone back to the basics of organic farming with these heirloom lines and carefully manage every step of the process from seed to sale. This ensures that patients can enjoy marijuana’s full potential at its very best, purest state - free of pesticides and contaminants - as it was centuries ago, yet in convenient products that fit today’s lifestyles and meet their medical needs.”
“The Nature’s Heritage Cannabis brand has an adventurous ‘Old World’ treasure hunt look with antiqued parchment packaging and maps showing the origin and history of each of the treasured cannabis strains,” noted Tim Tennant, MariMed Chief Marketing Officer. “We really want patients to explore the effectiveness of the Nature’s Heritage strains in treating their symptoms and develop a true appreciation for how their power has been harnessed in convenient, ready to use products.”
Kind Therapeutics USA grows Nature’s Heritage Cannabis Sativa, Indica and Hybrid strains in its cultivation facility in Hagerstown, Maryland. Its adjoining production facility manufactures products in THC and CBD formulations and distributes them to dispensaries throughout Maryland. MariMed Inc. developed and provides management oversight of this facility including its product selection and all its operations. For more information on Nature’s Heritage at Kind, visit https://kindtherapeuticsusa.com/natures-heritage/
MariMed Signs LOI to Invest in Cannabis Venture Partners to Expand Sprout CRM Platform Throughout Cannabis Industry (June 2018)
https://globenewswire.com/news-release/2018/06/29/1531696/0/en/MariMed-Signs-LOI-to-Invest-in-Cannabis-Venture-Partners-to-Expand-Sprout-CRM-Platform-Throughout-Cannabis-Industry.html
CVP focused on utilizing technology, data and content to accelerate growth and connect cannabis brands to consumers
NEWTON, MA, June 29, 2018 (GLOBE NEWSWIRE) -- MariMed, Inc. (OTCQB: MRMD), a seed to sale cannabis company, and Cannabis Venture Partners, LLC (CVP), developers of Sprout, an innovative CRM and marketing software platform for the cannabis industry, today announced that MariMed has signed a letter of intent (LOI) to make a strategic investment in Cannabis Venture Partners.
"MariMed and Cannabis Venture Partners share the same vision and ambition to deliver incredible experiences to millions of cannabis consumers and businesses all around the globe,” said MariMed CEO, Robert Fireman. “We are excited about the growth potential of this investment and partnership opportunity with CVP as they transform the way cannabis businesses engage and market to the consumer.”
CVP’s flagship technology, Sprout, is an all-in-one CRM and marketing software designed for dispensaries and cannabis brands. The Sprout software platform is used today by dispensaries and cannabis brands in nine states and its clients - brands and dispensaries - typically achieve 10x return on their marketing spend to acquire, retain, and increase share of wallet with their customers.
“We have been big fans of Sprout’s marketing engine and it has helped MariMed acquire new customers and keep them coming back,” stated Jon Levine, CFO of MariMed. “We’ve been using their technology for several years now and it is undeniably the best CRM and marketing platform in the cannabis industry today.”
Through its partnership with MariMed, Cannabis Venture Partners will continue to develop and expand the Sprout platform and launch new technologies, data and content that are consumer-centric and help dispensaries and cannabis brands increase sales, improve customer loyalty and reach more customers.
"We are excited to partner with MariMed, a forward-thinking innovator with a stellar record of success in the cannabis industry,” stated Jaret Christopher, CEO of Cannabis Venture Partners. “With MariMed’s industry expertise and international reach, our partnership will help us realize our shared goal of utilizing technology, data and content to deliver cannabis around the world.”.
About Cannabis Venture Partners, LLC.
Cannabis Venture Partners, LLC owns and operates proprietary technology, data and content related businesses that connect cannabis companies with consumers. The Company’s flagship product, Sprout, is an all-in-one CRM and marketing software used by dispensaries and cannabis brands.
For additional information visit: www.cannabisventurepartners.com or www.sprout.online
Navy Capital Invests $2.0 Million in MariMed (July 2018)
https://globenewswire.com/news-release/2018/07/19/1539540/0/en/Navy-Capital-Invests-2-0-Million-in-MariMed.html Investment helps fund the continued growth of MariMed assets
NEWTON, MA and NEW YORK, July 19, 2018 (GLOBE NEWSWIRE) -- MariMed, Inc. (OTCQB: MRMD), a multi- state professional cannabis organization which develops, owns and manages cannabis facilities and branded products lines, announced today that Navy Capital Green Fund, LP (Navy Capital), has made a $2.0 million investment in MariMed. The Navy Capital Green Fund is the first US-based Long/Short Public Equity Fund dedicated to identifying attractive best in class businesses within key verticals of the global legal cannabis industry. The investment will help fund the continued growth of MariMed assets, including the build-out of cannabis facilities in Massachusetts that are scheduled to open by yearend 2018.
“MariMed is one of the top multi-state cannabis operators in the US. We are delighted to be making this first investment to support their continued growth in Maryland, three sites in Massachusetts, and their plans for projects in additional states,” said Sean Stiefel, Navy Capital portfolio manager. “We are looking to synergistically align MariMed’s branded cannabis-infused product lines with other investments we’ve made in the industry. MariMed aligns closely with our investment philosophy of supporting businesses with strong revenue streams, compelling strategic growth plans, and management teams that are deeply invested in the business and committed to the industry and their customers.”
“This placement by one of the top investment houses in cannabis demonstrates Navy Capital’s confidence in our strategic plan and our potential for asset and revenue growth,” stated Robert Fireman, MariMed CEO. “We’ve had 11 consecutive quarters of year over year revenue growth, and Navy Capital’s infusion will help further facility development and expand corporate infrastructure, in turn bolstering assets, increasing revenue, and delivering financial performance.”
About Navy Capital
Navy Capital’s research-oriented, fundamentally driven investment process focuses on identifying attractive opportunities within the legal cannabis space. Navy Capital seeks to find the best in class businesses within key verticals of the global cannabis industry. Those verticals include Consumer, Healthcare, Technology, Industrials, and Agriculture.
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What We Look For
Navy Capital invests in 20-30 publicly traded and select private companies that will gain market share over time in their respective verticals. Businesses that have recurring revenue and management teams that have a large share of their net worth in the company and are deeply passionate about their culture and customers are the most attractive to us.
For more information, visit navycapital.com
MariMed Acquires iRollie to Support MariMed Brands, Expand into Ancillary Cannabis Service Offerings (July 2018)
https://globenewswire.com/news-release/2018/07/24/1541215/0/en/MariMed-Acquires-iRollie-to-Support-MariMed-Brands-Expand-into-Ancillary-Cannabis-Service-Offerings.html Acquisition includes:
? Brand, web, packaging development services and solutions,
? iRollie intellectual property
? Smoking accessories and e-commerce marketplace
NEWTON, Mass., July 24, 2018 (GLOBE NEWSWIRE) -- MariMed Inc., (OTCQB:MRMD) today announced it has acquired iRollie LLC, including its intellectual property (IP), clients, and its host of products and services. MariMed hired iRollie’s cofounders Luke Shepter and Joe Khoury to expand the iRollie business as well as to bring their expertise and services in house to support MariMed brands and clients. MariMed acquired iRollie and its executives in exchange for $600,000 in MariMed stock.
The acquisition enables MariMed to round out its ownership portfolio with an ancillary business capable of servicing all existing brands and drive new business, partnerships, and revenue. The MariMed team and iRollie co-founders will be available for interviews at the CannaCon Boston Conference, July 27-28 at MariMed Booth #128, Hynes Convention Ctr.
“MariMed identified a number of synergies between our two companies that we felt best to bring in-house to strengthen internal capabilities. We continue to set new standards in the industry with innovative all-natural cannabis products requiring premium branding, packaging, and marketing as well as strategic sourcing,” stated Tim Shaw, MariMed COO. “iRollie enables an in-house ability to develop, improve and effectively market new and existing brands, as well as add a fast-growing revenue stream of proprietary product offerings to MariMed’s financials.”
The iRollie team designed, prototyped, and produced custom products and packaging for cannabis companies in Massachusetts, Nevada, Colorado, Maine, with distribution facilities in Nevada and Pennsylvania. The co-founders bring formidable talent to MariMed with Khoury’s strong background in cannabis early strategic growth, digital marketing, supply chain management and Shepter’s expertise in redeveloping processing operations for recreational marijuana-infused products, with a strong focus on reducing production costs and increasing scalability.
“We are excited to apply our experience scaling cannabis brands in both recreational and medical markets to create best in class brands,” stated Shepter. “We believe these brands will capture the hearts and minds of B2B customers and consumers alike, and that our synthesis of cutting edge design of physical assets and digital technology will enhance customer retention and maximize ROI,” Khoury concluded.
MariMed Secures Exclusive Global Licensing, Distribution for Vitiprints Revolutionary, Proprietary Cannabis Printing Technology (August 2018) https://globenewswire.com/news-release/2018/08/02/1546266/0/en/MariMed-Secures-Exclusive-Global-Licensing-Distribution-for-Vitiprints-Revolutionary-Proprietary-Cannabis-Printing-Technology.html ? Platform creates new category of precision dosed dissolvable cannabis products at efficiencies unsurpassed in the industry.
? Cannabis-infused medium enables rapid delivery sublingually, transdermally, or in liquid.
? The Vitiprints platform efficiently layers ingredients and graphic design, offering endless options for amazing customer products, experiences.
NEWTON, Mass., NEW YORK, Aug. 02, 2018 (GLOBE NEWSWIRE) -- MariMed Inc., (OTCQB:MRMD) today announced that it has signed an exclusive global licensing agreement with Vitiprints™ for the worldwide production and distribution rights in all existing and future legal cannabis markets. The agreement extends to all cannabis products made using Vitiprints’ proprietary technology, including liquid ingredient formulation, printing process, and the resulting array of dissolvable products.
“Our exclusive agreement with Vitiprints puts MariMed on the forefront of precision-dosed branded cannabis products and technology that will, above all, delight consumers with a revolutionary product category and experience,” said Robert Fireman, MariMed CEO. “This innovative technology enables creation of infused cannabis products which can be specifically designed for dosage, flavor, and supplements to achieve the desired effect or result. These products can be manufactured at speeds and efficiencies that will create cost savings for producers and consumers, while generating significant incremental revenue streams for MariMed from sales and sublicensing agreements.”
The patent-pending Vitiprints technology – a first for the cannabis industry -- is already under development for consumer consumption in other industries. For MariMed, the platform combines multiple layers of marijuana ingredients, such as cannabinoids, terpenes, graphic design elements and other ingredients, into a paper-thin low-calorie product that is delivered sublingually, transdermally, or by drinking when dissolved in any liquid. The product can be used to create its own beverage or tea or as an enhancement to other beverages. Achieving total control over the ingredient layers, the platform further enables precision dosing and fast absorption, without the additional fillers commonly found in cannabis and nutraceutical products. This product transports easily in purses, pockets, and wallets with seamless discretion and convenience.
“MariMed’s management immediately recognized the advantages Vitiprints offered for flexibility in production, dosage, and design and how this is a game changing array of products for the cannabis industry,” stated Andrew Ferber, Co-founder and CEO. “We chose to partner with MariMed from the myriad of cannabis companies because their strategic vision and goals are aligned with ours and we have confidence their extensive experience as multi-state operators with a growing national distribution network will help us quickly penetrate the U.S. and international cannabis markets. We will continue to work with MariMed to develop new innovative products for this emerging industry.”
MariMed expects to complete test marketing of the dissolvable product sets in a MariMed-managed facility within 90 days, then launch in legal states across the country, and finally expand worldwide via sublicense agreements with qualified manufacturers and distributors. Products will be available on shelves as early as the end of Q4 2018.
“Vitiprints is ideally suited and ‘future proof’ against the widely differing and ever-changing cannabis regulations regarding dosing, formulation and appearance, enabling instant modification via the user interface versus a complete product redesign,” said Ryan Crandall, MariMed VP of Brand and Licensing. “Furthermore, we are able to engage customers by using printed design layers as a touch point into our customer education and engagement portal, in turn generating loyalty and feedback. It’s a dream come true for product development and marketing teams,” Crandall added.
Video clip of projected future revenue being presented at LD Micro convention (May 2018): https://www.facebook.com/marimedinc/videos/389512388200069/?t=3