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MariMed Inc. is a multi-state cannabis operator dedicated to enhancing lives daily through high-quality products, values, and actions. The company develops, owns, and manages state-licensed cannabis facilities, excelling in horticultural principles, cannabis cultivation, infused products, and dispensary operations. With expert management, MariMed has seen consistent growth and success through proprietary formulations reflected in award-winning brands like Betty's Eddies, Nature’s Heritage, InHouse, Bubby’s Baked, K Fusion, Kalm Fusion, and Vibations.
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MariMed Inc. (MRMD) closed a $58.7 million secured credit facility with a U.S. chartered bank, resulting in significant cash savings and no equity component. The 10-year term at a reduced annualized interest rate will lead to a $4.7 million reduction to principal and interest expense in the first 12 months and $3.5 million annually for the next four years. The deal includes no warrants or other dilutive instruments, and the loan proceeds were used to pay off existing term loans and a sellers note, with the remaining funds held in escrow for facility expansion. The lower blended interest rate and new debt facility represent a Debt/EBITDA ratio of 2.5X, among the lowest in the cannabis industry.
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MariMed Inc. (MRMD) announces strong financial results for Q3 2023 with $38.8 million in revenue, a 43% GAAP gross margin, and positive adjusted EBITDA of $6.1 million. The company's Maryland operations saw exponential growth with the commencement of adult-use sales on July 1st.
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MariMed Inc. announced the resignation of Susan M. Villare as Chief Financial Officer and the appointment of Jon Levine as Interim CFO. The company will report its Q3 2023 financial results on November 8, 2023, and a conference call will be held on November 9, 2023, to discuss the results.
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Betty's Eddies launches limited-edition apple pie chews for autumn called Sweater Weather Betty's. The fruit chews are infused with cannabis and CBG, and are available at select cannabis retailers in Massachusetts, Maryland, and Delaware.
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MariMed and Nature's Heritage announce 'Small Batch Exclusives' program
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MariMed Inc. opens new Thrive dispensary in Casey, Illinois, marking its fifth operational dispensary in the state and 12th overall across five states.
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Betty’s EddiesTM collaborates with Keep A Breast Foundation to support breast cancer awareness. MariMed Inc. makes a monetary donation. Limited time pink packaging for Ache Away Eddies. Partnership promotes KAB app for self-checking and connects users to medical professionals. Limited number of free bracelets available. Cannabis may alleviate cancer treatment side effects. Positive for MariMed and Betty’s Eddies' commitment to health and wellness.
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Betty’s Eddies and Nature’s Heritage ranked as top product brands in Massachusetts, according to a study by Brightfield Group. Betty’s Eddies fruit chews and Nature’s Heritage flower and concentrates were #1 and #2 in brand awareness among non-retail product brands. MariMed's branded cannabis products also saw increased brand awareness scores. The company's focus on quality and brand awareness positions them as long-term winners in the industry.
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MariMed Inc. announces participation in upcoming investor conferences.
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MariMed introduces new Blueberry Muffin bites to its Bubby's Baked line of THC-infused edibles
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FAQ
What is the current stock price of MARIMED (MRMD)?
The current stock price of MARIMED (MRMD) is $0.1625 as of October 15, 2024.
What is the market cap of MARIMED (MRMD)?
The market cap of MARIMED (MRMD) is approximately 64.3M.
What is MariMed Inc. known for?
MariMed Inc. is recognized for its high-quality cannabis products, state-licensed facilities, and award-winning brands like Betty's Eddies and Nature’s Heritage.
What are MariMed Inc.'s core operations?
MariMed Inc. develops, owns, and manages cannabis facilities, excelling in horticultural principles, cultivation, infused products, and dispensary operations.
Who leads MariMed Inc.'s management team?
MariMed Inc. is led by an experienced management team that has driven consistent growth and success for the company and its business units.
What products does MariMed Inc. offer?
MariMed Inc. offers a range of products under various brands, including Betty's Eddies, Nature’s Heritage, InHouse, Bubby’s Baked, K Fusion, Kalm Fusion, and Vibations.
How can one access MariMed Inc.'s products?
MariMed Inc.'s cannabis products are distributed to nearly every dispensary in the state of Maryland.
What recent acquisitions has MariMed Inc. made?
MariMed Inc. recently acquired an adult-use Thrive Wellness dispensary in Upper Marlboro, Maryland, further expanding its presence in the high-growth adult-use market.
What significant development has MariMed Inc. celebrated in the cannabis industry?
MariMed Inc. is enthusiastic about the impending reclassification of cannabis from Schedule I to Schedule III under the Controlled Substances Act, which will have substantial positive implications for the industry.
What financial strength does MariMed Inc. demonstrate?
MariMed Inc. has shown financial resilience, reporting consistent growth, positive adjusted EBITDA, and anticipation of millions of dollars in tax savings after the elimination of Section 280E.
How does MariMed Inc. view the future of the cannabis industry?
MariMed Inc. expresses optimism for major positive changes in the industry, including increased access to capital, mainstream acceptance, and better financial services.
Where can one get more information about MariMed Inc.?
For additional information about MariMed Inc., visit their official website at www.marimedinc.com.
MARIMED INC
OTC:MRMD
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64.32M
342.15M
14.01%
0.79%
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United States of America
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