Welcome to our dedicated page for Marimed news (Ticker: MRMD), a resource for investors and traders seeking the latest updates and insights on Marimed stock.
MariMed Inc. (MRMD) generates frequent news as a multi-state cannabis operator and cannabis consumer packaged goods company focused on branded products, facility operations, and regulatory developments. Its releases cover both corporate performance and brand-level activity across cultivation, production, and retail channels.
On this page, readers can follow MariMed’s earnings announcements, where the company discusses revenue trends, gross margins, net income or loss, and non-GAAP measures such as Adjusted EBITDA. These updates often include commentary on wholesale and retail performance, as well as progress on what management calls its "Expand the Brand" strategy to grow top-selling cannabis brands.
MariMed’s news flow also highlights product and brand developments. Examples include new limited-edition Betty’s Eddies™ fruit chews, extensions to the Nature’s Heritage™ product line, and initiatives for Vibations™ and InHouse™. The company reports on licensing and managed services agreements that bring its brands into additional states, as well as strategic decisions such as exiting specific markets after operational reviews.
In addition, MariMed issues releases on community and veteran-focused initiatives tied to its Thrive dispensaries and brands, along with commentary on major policy changes affecting cannabis, such as the rescheduling of cannabis at the federal level. Investors and observers can use this news feed to monitor how MariMed communicates its strategy, brand expansion, financial performance, and responses to regulatory and market changes over time.
MariMed, Inc. (CSE: MRMD, OTCQX: MRMD) announced a leadership change on February 28, 2023, appointing Jon Levine as Chief Executive Officer and Edward Gildea as Chairman of the Board. Levine, co-founder of MariMed, has been serving as Interim CEO since the passing of Bob Fireman in December. The Board believes Levine's extensive industry experience positions him well to continue the company's mission established by the founders. Gildea praised Levine's leadership and vision, indicating strong support from the Board for the strategic plan moving forward.
MariMed (CSE: MRMD) plans to acquire the operating assets of Ermont, a vertically integrated cannabis operator in Quincy, MA, currently in receivership. The acquisition, pending approval from the Massachusetts Cannabis Control Commission, would mark MariMed's third dispensary in the state, furthering its strategic objective to expand its footprint. Funded through a credit facility with Chicago Atlantic, this acquisition is expected to significantly enhance MariMed's operations by allowing the rebranding of the dispensary to Panacea Wellness and broadening its product offerings. The Massachusetts cannabis market generated $1.8 billion in sales in 2022.
MariMed Inc. (CSE: MRMD, OTCQX: MRMD), a multi-state cannabis operator, announced it will release its Q4 2022 financial results on March 1, 2023, after market close. Following this, management will host a conference call on March 2, 2023, at 8:00 a.m. EST to discuss the results. Investors can access a webcast of the earnings call via MariMed's Investor Relations website. The company focuses on high-quality cannabis products and operates state-licensed facilities, aiming to enhance lives through its innovative offerings. For more information, visit www.marimedinc.com.
MariMed closed a $35 million secured credit facility with Chicago Atlantic Advisors on January 24, 2023, to enhance its growth and expansion initiatives. The company initially borrowed $30 million, with an option for an additional $5 million within six months. The funds will finance the build-out of cultivation facilities in Illinois and Missouri, expand existing operations in Massachusetts and Maryland, and repay seller notes from a previous acquisition. The facility features a floating interest rate and a Debt/EBITDA ratio of 1.5X, reflecting a solid balance sheet among cannabis operators.
MariMed (CSE: MRMD, OTCQX: MRMD) has announced the addition of two key executives to its team. Matt Truppo joins as Vice President of Retail Sales, where he will enhance retail performance across dispensaries, while Jay O’Malley joins as Vice President of Marketing and Research & Development. Truppo aims to maximize revenue and improve customer experience, drawing from his extensive retail background, including leadership roles at AYR Wellness Inc. O’Malley, with 20 years of experience at The Boston Beer Company, will focus on expanding product distribution and innovation, crucial for maintaining a competitive edge in the cannabis market.
MariMed has launched a limited edition Candy Cane flavored disposable vape pen under its InHouse brand, available at selected dispensaries in Massachusetts and Maryland. This product aims to serve price-conscious cannabis consumers while maintaining high-quality standards. The InHouse brand, launched earlier in the year, focuses on affordable, high-quality cannabis products. Chief Revenue Officer Ryan Crandall notes the brand's popularity and plans for seasonal innovations.
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.
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