Wednesday, March 03, 2021 8:10:10 AM
NORWOOD, Mass., March 2, 2021 /CNW/ - MariMed, Inc. (OTCQX: MRMD) (the "Company" or "MariMed"), a leading multi-state cannabis operator focused on health and wellness, today announced the closing of a $46 million financing facility with Hadron Healthcare Fund ("Hadron") pursuant to the terms of a Securities Purchase Agreement ("SPA").Today's initial funding of $23 million, will be used to repay substantially all of the Company's long-term debt other than mortgage-backed loans as well as to upgrade and expand MariMed's owned and managed cannabis facilities. The balance of the committed funds will be available for MariMed to continue executing on its strategic plan and complete the consolidation of other state cannabis businesses into MariMed.
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