MARIMED INC - MRMD STOCK NEWS

MariMed, Inc. (OTCQX: MRMD) reported a strong first quarter for 2022, with revenues of $31.3 million, a 27% increase from the previous year. Non-GAAP Adjusted EBITDA grew 29% to $10.4 million, indicating a solid operational performance. The company maintained its 2022 guidance, anticipating revenues between $145 million and $150 million. Recent acquisitions in Maryland and Illinois are expected to enhance growth and revenue generation. Despite industry challenges, MariMed generated positive cash flow of $8.5 million and ended the quarter with a cash balance of $33.5 million.

MariMed, Inc. (OTCQX: MRMD) has successfully closed its acquisition of Green Growth Group, Inc., enhancing its cannabis operations in Illinois. This deal enables MariMed to integrate cultivation, manufacturing, and distribution alongside its retail operations. A new state-of-the-art facility is under construction in Mt. Vernon, expected to begin operations in Q4 2022. This vertical integration aims to boost margins and introduce new revenue streams through wholesale distribution of its award-winning brands. Illinois’ cannabis market reported $1.8 billion in sales in 2021, marking significant growth.

MariMed, Inc. (OTCQX: MRMD), a prominent multi-state cannabis operator, has announced its participation in several upcoming conferences in May and June 2022. These include the Canaccord Genuity Virtual Cannabis Conference on May 11, and the Wolfe Research Virtual Consumer Conference on May 13, where management will engage in fireside chats and one-on-one investor meetings. Additionally, MariMed's 'World’s Largest Pot Brownie' PR campaign is a finalist for the PRSA Silver Anvils, marking a significant recognition for a cannabis company, with winners announced on May 19.

MariMed Inc. (OTCQX: MRMD) has completed the acquisition of Kind Therapeutics U.S.A., LLC, a vertically integrated cannabis business in Maryland. The Maryland Medical Cannabis Commission approved the transfer on April 13, 2022, with the deal closing on April 27, 2022. This acquisition allows MariMed to expand Kind's operations, including adding 40,000 square feet of cultivation space and a new GMP kitchen. MariMed will now report 100% of Kind’s revenues and profits, showcasing its commitment to strategic growth in the cannabis industry.

MariMed Inc. (OTCQX: MRMD) has received approval from the Maryland Medical Cannabis Commission to acquire 100% ownership of Kind Therapeutics U.S.A., LLC. This decision was made during the MMCC’s Full Commission Meeting on April 13, 2022. Following the completion of the transaction, Kind will become a wholly owned subsidiary, consolidating its financials with MariMed’s. Kind operates a cannabis cultivation facility in Maryland and is developing a dispensary. Maryland's medical cannabis program has over 139,000 registered patients and generated over $500 million in sales in 2021.

MariMed, Inc. (OTCQX: MRMD) will report its Q1 2022 financial results on May 10, 2022, after market close. A conference call is scheduled for May 11, 2022, at 8:00 a.m. EDT to discuss these results. The company, known for its cannabis operations and brands like Betty's Eddies and Kalm Fusion, emphasizes its commitment to quality and growth in the cannabis sector. Investors can access the call via the Investor Relations website, with an archived playback available for 30 days.

MariMed, Inc. (OTCQX: MRMD) has filed a preliminary non-offering long form prospectus with securities regulatory authorities in Ontario and British Columbia. This Prospectus aims for a dual listing of its common shares on the Canadian Securities Exchange (CSE). CEO Robert Fireman expressed optimism about the potential listing, believing it will enhance liquidity and attract more retail and institutional investors. However, there is no guarantee of receiving final approval from regulators or the CSE.

MariMed, a leading multi-state cannabis operator, announced its participation in three upcoming cannabis conferences in April 2022. CEO Bob Fireman will engage in key discussions, including a fireside chat at the BTIG Global Cannabis Conference on April 6 at 1:50 PM ET. He will also join an Emerging MSO Panel at the Cantor Fitzgerald Cannabis Conference on April 13 at 9:00 AM ET, and participate in another fireside chat at the Benzinga Cannabis Capital Conference on April 20 at 1:15 PM ET. MariMed focuses on high-quality cannabis products and has seen consistent growth.

MariMed reported strong financial results for 2021, exceeding guidance with full-year revenue of $121.5 million (up 139% YoY) and adjusted EBITDA of $43.1 million (up 144% YoY). The fourth quarter revenue reached $31.0 million, driven by an 89% increase in retail operations. Gross profit for the year totaled $66.3 million, a 112% increase. Operational cash flow surged 961% year-over-year. Key strategic moves include acquisitions in Maryland and Illinois, plus a new cannabis beverage launch expected to enhance revenue growth.