MariMed’s Brands and Products to Enter Missouri Market
MariMed, Inc. (CSE: MRMD, OTCQX: MRMD) has announced its entry into Missouri's medical cannabis market with a new agreement to develop a production kitchen. The facility is expected to be completed in Q1 2023, allowing wholesale sales to start thereafter. The company plans to distribute its award-winning brands, including Betty's Eddies and Bubby's Baked. Missouri's medical cannabis sales are projected to hit $400 million in 2023, bolstered by anticipated voter approval for adult-use sales this November.
- New agreement to enter Missouri's cannabis market.
- Completion of a state-of-the-art production kitchen planned for Q1 2023.
- Opportunity to distribute top-selling brands in a growing market.
- Projected $400 million annual sales in Missouri's medical cannabis program.
- None.
Company’s Award Winning “Betty’s Eddies,” “Bubby’s Baked,” and “Vibations: High + Energy” to be Sold in Robust Medical Cannabis Program
NORWOOD, Mass., Sept. 12, 2022 (GLOBE NEWSWIRE) -- MariMed, Inc (CSE: MRMD), (OTCQX: MRMD), (“MariMed” or the “Company”), a leading multi-state cannabis operator focused on improving lives every day, today announced an agreement that will bring the Company’s award-winning portfolio of cannabis-infused edibles to Missouri. As part of the agreement, MariMed will develop and manage a state-of-the-art production kitchen. MariMed anticipates completion of the facility in the first quarter of 2023 with wholesale sales to commence thereafter.
“I am delighted to announce our management contract in the state of Missouri that will facilitate the distribution of our products in this emerging cannabis market,” said Bob Fireman, Chief Executive Officer of MariMed. “Expanding our operations to increase distribution of our award-winning brands aligns with our strategic growth plan and delivers on another shareholder commitment. We, as well as the polls, expect voters to approve adult-use sales on the ballot initiative this fall, which we believe will catapult Missouri to become a leading cannabis market in the U.S.”
MariMed intends to manufacture and distribute a select variety of its brands and products throughout Missouri, including its Betty’s Eddies fruit chews, a top-selling edible in every state where it is sold, its Bubby’s Baked soft and chewy baked edibles, and its Vibations: High + Energy powder drink mixes.
According to the Missouri Department of Health and Senior Services (DHSS), the medical marijuana program began sales in October 2020 and reported
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 new agreement announced by MariMed on September 12, 2022?
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