MariMed Inc (MRMD)

[foti1kenobi]

The continued strong financial performance in the fourth quarter of 2021 was driven by:

Revenue from retail dispensary operations grew 89% during the fourth quarter, and 177% for the full year 2021, compared to the same periods from the prior year. Revenue growth was driven by a new dispensary in Metropolis, IL, and higher customer visits in both Illinois and Massachusetts.

Revenue from wholesale sales of cannabis flower, concentrates, and infused products grew 5% during the fourth quarter, and 151% for the full year 2021, compared to the same periods from the prior year. This was a result of both the increased production of MariMed’s manufacturing facility in Massachusetts and the increased number of licensed dispensary clients in the state.

The Company launched Bubby’s Baked, its new line of THC-infused baked goods, in December 2021 in Massachusetts. The launch of Bubby’s Baked was supported by a robust sales and marketing plan which included baking the world’s largest THC-infused brownie. Weighing 850 pounds and infused with 20,000 milligrams of THC, the brownie garnered the Company and the product line global attention, generating nearly five billion consumer impressions.