MARIMED INC - MRMD STOCK NEWS

MariMed, Inc. (OTCQX: MRMD) announced a definitive agreement to acquire a provisional dispensary license from Green House Naturals in Beverly, Massachusetts. This acquisition will add a second retail location under the Panacea Wellness brand, enhancing MariMed’s vertically integrated cannabis operations. The new dispensary is expected to open in the second half of 2022, aiming to strengthen the brand and contribute to revenue and Adjusted EBITDA growth. This move aligns with MariMed's strategic growth plan to deepen its market presence in high-growth states.

MariMed, Inc. (OTCQX: MRMD) will release its fourth quarter and full year 2021 financial results on March 16, 2022, after market close. A conference call to discuss these results is scheduled for March 17, 2022, at 8:00 a.m. ET. The call will be accessible via MariMed's Investor Relations website, where a playback will be available for 30 days. MariMed is recognized as a leading multi-state cannabis operator, focusing on high-quality products and consistent growth through its management team and proprietary formulations.

MariMed (OTCQX: MRMD) has expanded its reach into Delaware, where its cannabis brands are now available following new regulations in the state's Medical Marijuana program. The company has signed an enhanced licensing agreement with First State Compassion Center (FSC), allowing FSC to exclusively produce and distribute MariMed's popular cannabis edibles, including Betty’s Eddies® and Bubby’s Baked™. This expansion marks the availability of MariMed’s products in six states plus Puerto Rico, strengthening its market presence.

MariMed, Inc. (OTCQX: MRMD) has signed a definitive agreement to acquire Green Growth Group, Inc., holder of a provisional Cannabis Craft License in Illinois. This acquisition will enhance MariMed's cannabis operations in the state by integrating cultivation, manufacturing, and distribution capabilities. The transaction supports MariMed's strategy to improve revenue and profit margins by expanding in high-growth markets. Additionally, the company plans to develop a facility for cultivation and production of its proprietary cannabis products, leveraging Illinois's $1.8 billion cannabis market.

MariMed Inc. (OTCQX: MRMD) has entered into a definitive agreement to acquire Kind Therapeutics U.S.A., LLC for $20 million, marking a strategic expansion into Maryland’s cannabis market. The acquisition is subject to regulatory approvals and aims to consolidate MariMed's operations, enhancing its growth trajectory following two years of over 100% revenue growth. Kind holds essential cannabis licenses and operates from a 180,000 sq. ft. facility developed by MariMed, contributing to Maryland’s thriving cannabis industry, which serves over 139,000 registered patients.

MariMed, Inc. (MRMD) reported impressive financial results for Q3 2021, with revenue of $33.2 million, a 147% increase year-over-year. The adjusted EBITDA reached $12.9 million, marking a 213% increase compared to the same quarter last year. Net income rose to $2.1 million, up 25% year-over-year. The company also maintained working capital of $27.3 million. MariMed’s retail operations in Illinois and Massachusetts saw revenue growth of 207% year-over-year, demonstrating strong performance despite an industry-wide slowdown. Full-year guidance remains at $118 million in revenue and $42 million in adjusted EBITDA.