MariMed Appoints Jon Levine as President

Rhea-AI Summary

MariMed, a prominent multi-state cannabis operator, has appointed Jon Levine as President, effective immediately. Levine co-founded the company and has served in key financial roles, contributing to its robust financial performance. CEO Bob Fireman highlighted Levine's role in daily management and support in capital markets, allowing Fireman to focus on strategic growth. The company is poised for expansion amidst industry consolidation, backed by strong leadership and a solid balance sheet. MariMed aims to leverage new opportunities in the evolving cannabis landscape.

Positive

• Jon Levine's appointment as President showcases strong internal leadership.
• Levine has a proven track record of sound financial management and operational oversight.
• The company is well-positioned for growth capitalizing on cannabis industry consolidation.

Negative

• None.

NORWOOD, Mass., Sept. 07, 2022 (GLOBE NEWSWIRE) -- MariMed, Inc. (CSE: MRMD), (OTCQX: MRMD) (“MariMed” or the “Company”), a leading multi-state cannabis operator (“MSO”) focused on improving lives every day, today announced the appointment of Jon Levine as President, effective immediately.

Mr. Levine co-founded MariMed with Chief Executive Officer Bob Fireman over a decade ago. The two executives, with current Chief Operating Officer Tim Shaw, built the foundation of the business that has grown to become a leader in the cannabis industry. Mr. Levine’s sound financial discipline as Chief Financial Officer enabled MariMed to continually deliver some of the best financial results among publicly traded MSOs. He was subsequently elevated to the position of Chief Administration Officer, with responsibility for the Company’s sales, marketing, operations, financial reporting, and communications functions.

“I am thrilled to announce Jon’s appointment as President of the Company, a role that includes his continued oversight of the day-to-day management of the Company,” said MariMed CEO Bob Fireman. “Jon will also assist me with our capital market activities and public appearances, enabling me to focus more on evolving our proven strategic and growth plans as the cannabis industry landscape continues to change.”

Mr. Fireman continued, “The consolidation in the cannabis industry and other factors have opened new opportunities for MariMed to expand and grow at an accelerated pace. With a deep and experienced management team, great brands, and a strong balance sheet, we are poised to seize these opportunities.”

“I am so proud of the Company that Bob and I have built, and the great team that has helped us achieve our success to date,” said MariMed President Jon Levine. “I look forward to our next chapter of the journey as President of MariMed.”
        
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, Bubby’s Baked, K Fusion, Kalm Fusion, and Vibations: High + Energy. For additional information, visit www.marimedinc.com.

Investor Relations Contact:
Steve West
Vice President, Investor Relations
Email: ir@marimedinc.com
Phone: (781) 277-0007
Media Contact:
Trailblaze PR
Email: marimed@trailblaze.co

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

FAQ

What is the recent appointment at MariMed?

Jon Levine has been appointed as President of MariMed, effective immediately.

Who co-founded MariMed with Jon Levine?

Bob Fireman co-founded MariMed with Jon Levine over a decade ago.

What role did Jon Levine hold before becoming President?

Before becoming President, Jon Levine served as Chief Financial Officer and then Chief Administration Officer.

How might Jon Levine's appointment impact MariMed's growth?

Levine's leadership is expected to enhance operational efficiency and capitalize on new opportunities in the cannabis industry.

What is MariMed's strategy following industry consolidation?

MariMed aims to expand and grow more rapidly by leveraging opportunities presented by the cannabis industry's consolidation.