MARIMED INC - MRMD STOCK NEWS

MariMed, a multi-state cannabis operator, has appointed Jon Levine as Interim CEO following the passing of Robert Fireman. Levine, who has been with the company since its inception and has managed daily operations as President, brings extensive knowledge of MariMed's strategies. The Board is actively seeking a permanent CEO, with no timeline provided for the selection process. The company continues to focus on high-quality cannabis products and has successfully developed award-winning brands.

MariMed Inc. (CSE: MRMD) announced the unexpected death of Chairman and CEO Robert Fireman on December 11, 2022. A pioneer in the cannabis industry, Fireman led MariMed since 2017, overseeing the awarding of legal cannabis licenses across several states and the development of compliant facilities. The company expressed deep condolences to his family and stated that further information on succession will be provided after the Board's deliberation. His contributions as a philanthropist and leader will be greatly missed within the MariMed community and the wider cannabis sector.

MariMed, a notable multi-state cannabis operator, has announced its initiative to donate hundreds of turkeys to local community organizations across Massachusetts, Maryland, Illinois, and Delaware for Thanksgiving 2022. This marks the second consecutive year of the company's charitable contribution, aimed at easing financial burdens for families during the holiday season. Organizations receiving donations include the Society of St. Vincent de Paul, Salvation Army, and several food banks. CEO Bob Fireman emphasized the company's commitment to community support and improving lives through their actions and products.

MariMed, Inc. (CSE: MRMD) reported third-quarter financial results for the period ending September 30, 2022, highlighting a revenue increase to $33.9 million from $33.2 million year-over-year. The gross margin declined to 48% from 55%, while GAAP net income rose to $2.7 million from $2.1 million. Non-GAAP Adjusted EBITDA fell to $8.6 million versus $12.6 million the prior year. The company revised its 2022 revenue guidance to $132-$135 million, reflecting regulatory delays.

MariMed has announced the evolution of its popular Betty’s Eddies cannabis fruit chews, enhancing their formulations to cater to consumer needs for sleep, pain relief, stress relief, and more. Incorporating full-spectrum cannabis and natural ingredients, the new product lineup includes flavors like Bedtime Betty’s, Ache Away Eddies, and Go Betty Go, among others. These changes reflect the company's commitment to meet the growing demands of cannabis consumers. The updated products will be available in select states including Massachusetts, Maryland, Maine, and Delaware.

MariMed, a multi-state cannabis operator, will report its Q3 2022 financial results on November 7, 2022, after market close. A conference call is scheduled for November 8, 2022, at 8:00 a.m. EST to discuss these results. Investors can access the earnings webcast on MariMed's Investor Relations website. The company is known for its high-quality cannabis products, including award-winning brands like Betty's Eddies and Nature’s Heritage. MariMed is dedicated to improving lives through excellence in cannabis cultivation and product development.

MariMed, Inc. (CSE: MRMD), a prominent multi-state cannabis operator, has launched its first dispensary in Maryland, named Panacea Wellness, located in Annapolis. This 5,000 sq. ft. facility showcases MariMed's full range of award-winning products, including Nature’s Heritage and Betty’s Eddies. A grand opening event is scheduled for October 18, 2022, featuring local officials and community leaders. With this expansion, MariMed solidifies its vertical operations in Maryland, supported by a robust cultivation facility in Hagerstown. The Maryland market saw over $550 million in medical cannabis sales in 2021.

MariMed (CSE: MRMD) has announced a licensing agreement with 42 Degrees, a licensed cannabis producer in Michigan, to manufacture and distribute its brands, starting with the Betty’s Eddies full-spectrum fruit chews. This partnership aims to penetrate Michigan's rapidly growing cannabis market, which reported $1.8 billion in sales in 2021. The deal is aligned with MariMed's strategic growth plan, anticipating further product rollouts in 2023. Michigan's adult-use market is projected to reach $2.1 billion by 2025, representing significant growth potential for MariMed.

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.