A Bigger Dispensary Opens in the Town of “Big Things” as MariMed Opens Larger, Permanent Thrive Dispensary in Casey, Illinois

Rhea-AI Summary

MariMed Inc. announces the opening of a larger Thrive dispensary in Casey, Illinois, benefiting from its strategic location near the Indiana border and tourist attractions. The company aims to expand its presence in Illinois, a high-growth state for cannabis sales.

NORWOOD, Mass., March 12, 2024 (GLOBE NEWSWIRE) -- MariMed Inc. (“MariMed”) (CSE: MRMD) (OTCQX: MRMD), a leading multi-state cannabis operator focused on improving lives every day, today announced the opening of its permanent and much “bigger” Thrive dispensary in Casey, Illinois. The adult-use dispensary had operated from a temporary location since opening last October.

The only dispensary in Clark County, Thrive Casey is located at 912 N. State Highway 49, near the intersection of state Highway 49 and U.S. Interstate 70. Located just 30 miles from the border, it is the closest dispensary to Indiana, which has not passed a legal cannabis program. The dispensary should also benefit from attracting the thousands of tourists who annually visit Casey to see the 30 “World’s Largest” and “Big Things” on display throughout the city. They include the World’s Largest Rocking Chair and Mailbox.

Thrive Casey, the Company’s fifth operational dispensary in Illinois, will continue to be managed by MariMed under a Managed Servies Agreement until a license transfer is approved by the Illinois Department of Financial & Professional Regulation. The Company continues to look for additional retail locations in the high-growth state, where adult-use cannabis sales exceeded $1.6 billion last year. Current Illinois cannabis regulations allow a license holder to operate up to 10 dispensaries. MariMed also recently became vertical in Illinois, opening a craft grow and processing facility in Mt. Vernon in December. The Company now distributes most of its products at Thrive dispensaries and through the wholesale channel all over the state.

About MariMed
MariMed Inc, a multi-state cannabis operator, is dedicated to improving lives every day through its high-quality products, its actions, and its values. The Company develops, owns, and manages seed to sale state-licensed cannabis facilities, which are models of excellence in horticultural principles, cannabis cultivation, cannabis-infused products, and dispensary operations. MariMed has an experienced management team that has produced consistent growth and success for the Company and its managed business units. Proprietary formulations created by the Company’s technicians are embedded in its top-selling and award-winning products and brands, including Betty's Eddies™, Nature’s Heritage™, InHouse™, Bubby’s Baked™, K Fusion™, Kalm Fusion™, and Vibations™. For additional information, visit www.marimedinc.com.

Company Contact:
Howard Schacter
Chief Communications Officer
Email: hschacter@marimedinc.com
Phone: (781) 277-0007

Investor Relations Contact:
Steve West
Vice President, Investor Relations
Email: ir@marimedinc.com
Phone: (781) 277-0007

FAQ

Where is MariMed's new Thrive dispensary located?

MariMed's new Thrive dispensary is located at 912 N. State Highway 49 in Casey, Illinois.

How many dispensaries does MariMed currently operate in Illinois?

MariMed currently operates five dispensaries in Illinois, including the newly opened Thrive dispensary in Casey.

What is the significance of the location of the Thrive dispensary in Casey, Illinois?

The Thrive dispensary in Casey, Illinois is strategically located near the Indiana border and tourist attractions, attracting visitors and benefiting from the high foot traffic.

How does MariMed plan to expand its presence in Illinois?

MariMed aims to open additional retail locations in Illinois, taking advantage of the state's growing adult-use cannabis market.

What recent development has MariMed made in Illinois?

MariMed recently became vertical in Illinois by opening a craft grow and processing facility in Mt. Vernon in December.

What are the potential benefits of MariMed's new Thrive dispensary location?

The new Thrive dispensary location in Casey, Illinois is expected to benefit from its proximity to Indiana and tourist attractions, boosting foot traffic and sales.

How many dispensaries can a license holder operate in Illinois according to current regulations?

According to current Illinois cannabis regulations, a license holder can operate up to 10 dispensaries.

How does MariMed distribute its products in Illinois?

MariMed distributes most of its products at Thrive dispensaries and through the wholesale channel across the state of Illinois.