Marimed Stock Price, News & Analysis

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.

MariMed, Inc. (OTCQX: MRMD), a multi-state cannabis operator, announced it will release its third quarter 2021 financial results on November 15, 2021, after market close. Management will hold a conference call on November 16, 2021, at 8:00 a.m. EDT to discuss these results. The call will be accessible via the company's Investor Relations website, with a playback available for 30 days. MariMed is focused on providing high-quality cannabis products and has developed a robust portfolio, including brands like Betty's Eddies® and Nature’s Heritage™.

MariMed, Inc. (OTCQX: MRMD) announced the appointment of Steve West as Vice President of Investor Relations. With nearly 20 years of experience, West has held significant roles at renowned companies like Neptune Wellness Solutions and Acreage Holdings. He is recognized for his expertise in investor relations, previously serving as a successful sell-side analyst. His military background includes over 14 years in the U.S. Navy. This strategic appointment aims to enhance MariMed's communication with capital markets and strengthen investor relations.

MariMed, Inc. (OTCQX: MRMD) announced health and safety protocols for its annual meeting on September 23, 2021, at Hilton Boston/Dedham. Only stockholders will be admitted, with record stockholders confirmed from company records. Attendees must present proof of vaccination or a negative COVID-19 test within 72 hours. Masks are mandatory, and no food or beverages are allowed. The company focuses on health and wellness in the cannabis sector, managing state-licensed facilities and producing award-winning products such as Betty's Eddies® and Nature’s Heritage™.