MariMed Inc. reports news on its multi-state cannabis operating platform, including cultivation, production, branded consumer products and retail dispensaries. Company updates commonly cover financial results, earnings-call schedules, wholesale distribution, branded product activity and retail operations tied to names such as Betty's Eddies, Bubby’s Baked, InHouse, Nature’s Heritage, Vibations and Thrive Dispensary.
Recurring developments also include capital-structure actions, preferred-stock obligations, hemp-derived THC product launches, cannabis regulatory commentary and community initiatives associated with the company's dispensary and brand portfolio.
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.
MariMed, a prominent multi-state cannabis operator, has appointed Jon Levine as President, effective immediately. Levine co-founded the company and has served in key financial roles, contributing to its robust financial performance. CEO Bob Fireman highlighted Levine's role in daily management and support in capital markets, allowing Fireman to focus on strategic growth. The company is poised for expansion amidst industry consolidation, backed by strong leadership and a solid balance sheet. MariMed aims to leverage new opportunities in the evolving cannabis landscape.
MariMed, a leading multi-state cannabis operator, has launched Nature’s Heritage 'LIVE Flower' in Massachusetts. This premium cannabis flower, enhanced through the proprietary FreshCure curing process, ensures peak freshness and vibrant characteristics. The product will initially be available at the Panacea Wellness dispensary and 25 select locations in Massachusetts, with plans for expansion to Delaware, Illinois, and Maryland. This innovative approach eliminates 2-3 weeks of drying time, delivering a smoother smoke and significant freshness.
MariMed, a multi-state cannabis operator, has announced its Nature’s Heritage brand as a Presenting Sponsor of the Cultivators Cup, set for September 3-4, 2022, in Worcester, MA. This event celebrates cannabis culture and recognizes top cultivators and brands in Massachusetts. Nature’s Heritage, a leading brand in the state, will be nominated in various categories. Attendees can enjoy music, food, and cannabis consumption, highlighting the company's role in the local cannabis community.
MariMed, Inc. (CSE: MRMD, OTCQX: MRMD) announced its Q2 financial results for 2022, reporting a revenue of $33.0 million, a slight increase from $32.6 million in Q2 2021. The company faced challenges with a gross margin of 45%, down from 60% YoY, and a GAAP net income of $1.9 million, decreasing from $7.6 million. Non-GAAP Adjusted EBITDA was $8.9 million, down from $13.9 million, with a margin of 27%. The revised 2022 revenue guidance is $135 million to $140 million, lower than the previous estimate of $145 million to $150 million. MariMed expanded its operational footprint with several acquisitions and product launches.
MariMed, a multi-state cannabis operator (CSE: MRMD, OTCQX: MRMD), has launched a new line of cannabis-infused ice cream in collaboration with Boston's Emack & Bolio’s. This product features vegan and dairy options, debuting two flavors, Cup O’ Coffee Chip and Chocolate Sunny Days, available at Panacea Wellness dispensary in Middleborough, MA. The ice cream is made using MariMed's full spectrum cannabis oil and natural ingredients, aligning with the company's commitment to quality. More flavors and broader distribution are anticipated in the upcoming months.
MariMed, Inc. (CSE: MRMD, OTCQX: MRMD) announced its subsidiary, Kind Therapeutics USA, has received approval to expand its production kitchen in Hagerstown, Maryland. This expansion boosts production capacity to meet rising demand for its branded cannabis products. Currently, their products are available in nearly all of Maryland's 100 dispensaries. With expected increases in demand following potential adult-use cannabis legalization in November, the company aims for GMP certification, promoting health and safety standards. Maryland achieved over $500 million in medical cannabis sales in 2021.
MariMed, a leading multi-state cannabis operator, announced its shares will begin trading on the Canadian Securities Exchange (CSE) under the ticker symbol MRMD on July 12, 2022. This dual listing aims to enhance liquidity and attract a broader range of investors, including institutional and retail, and potentially increase Wall Street analyst coverage. MariMed continues to trade on the OTCQX under the same ticker. The company is dedicated to high-quality cannabis products and operates state-licensed facilities across multiple states.
MariMed, Inc. (OTCQX: MRMD), a leading cannabis operator, announced plans to report its second quarter 2022 financial results on August 8, 2022, after market close. A conference call will be held on August 9, 2022, at 8:00 a.m. EST to discuss the results. Investors may access the call via MariMed's Investor Relations website, with a playback available for 30 days. MariMed focuses on high-quality cannabis products and operates state-licensed facilities, emphasizing excellence in cultivation and product development.
MariMed, Inc. (OTCQX: MRMD) announced the receipt of its final long-form prospectus from the Ontario Securities Commission, positioning the company for a dual listing on the Canadian Securities Exchange (CSE). The anticipated listing under the symbol MRMD is projected to occur in July 2022, pending the completion of customary conditions. CFO Susan Villare stated that this move aims to enhance liquidity and trading volume, making it easier for investors to trade MariMed shares.