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MariMed Expands Licensing of Its Branded Cannabis Products to Maine(December 06, 2017)
NEWTON, Mass. and BIDDEFORD, Maine, Dec. 06, 2017 (GLOBE NEWSWIRE) -- MariMed Inc., (OTCQB:MRMD) today announced a licensing agreement whereby Canuvo, Inc., will manufacture and distribute MariMed Kalm Fusion™ and Betty’s Eddies™ branded medical cannabis products in the state of Maine. The initial products will include Kalm-Corn™ (popcorn) and MariMelts™ (sublingual oral strips) in THC and CBD formulations. The agreement with Canuvo is the second licensing partnership that MariMed has added since announcing a national expansion initiative for its branded products in November. MariMed currently has licensed products available in Delaware, Illinois, Maryland, and Rhode Island, with products becoming available in Nevada, Maine, and Massachusetts in Q1 2018.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/47bf54f9-eebc-455c-8a19-47e6d0ab98c8.
Canuvo is the premier vertically integrated seed to sale medical cannabis company in Maine, with a new state of the art 120,000 sq. ft. cultivation and manufacturing facility in western Maine. Its founders and principals Glenn Peterson, a board member of the National Cannabis Industry Association (NCIA), and Sage Peterson, CEO of Canuvo, have implemented best practices which are evident in the quality of their medical cannabis and infused products sold at their Biddeford dispensary. Licensed patients who purchase products are constantly educated as to the benefits of medical cannabis.
“Glenn and Sage are two extremely knowledgeable and well respected cannabis experts who run one of the premier operations in the U.S., so it is especially gratifying to have them embrace our products,” stated Tim Shaw, MariMed Chief Operations Officer. “We are excited to formalize our relationship with them to use MariMed’s proprietary processes, formulations, and marketing to bring Kalm Fusion and Betty’s Eddies products in a variety of easy to use, discrete ingestion options to the patients of Maine.”
“MariMed has created outstanding products from their cultivation techniques all the way through dosing and packaging,” stated Glenn Peterson. “We see this as the beginning of a long and mutually beneficial relationship, that will also benefit our patients as they have access to new, easy to use products.”
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About MariMed Inc.:
MariMed is an industry leader in the development and operation of state licensed regulatory compliant cannabis cultivation, production, and dispensary facilities in multiple states across the country. These facilities are models of excellence in horticultural principals, cannabis production, product development, and dispensary operations. MariMed is on the forefront of precision dosed branded products for the treatment of specific medical symptoms. MariMed currently distributes its branded products in select states and is expanding licensing and distribution to numerous additional states encompassing thousands of dispensaries. MariMed Inc., is one of the 17 top-performing public cannabis companies in the U.S. tracked on the U.S. Marijuana Index, (www.marijuanaindex.com) and CannabIndex. For additional information, visit www.MarimedAdvisors.com
About Canuvo, Inc.
Canuvo, founded in 2011, is one of 8 licensed medical dispensaries in the state of Maine. Vertically integrated, Canuvo cultivates, manufactures, and retails its own products in its state of the art facilities. Canuvo employs best practices, including naturally grown cannabis (no pesticides), super clean environment, and top-notch genetics, coupled with strict standards throughout the entire cultivation and post-production process to ensure the highest quality medical grade cannabis and cannabis infused products. Canuvo’s edibles and tinctures are crafted with the same high standards as its flowers. The Company’s mission is to connect customers with information and support in medical cannabis use. Visit Canuvo.org for more information.
Jon Levine, CFO, MariMed, Inc.
Tyler Troup, Circadian Group
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Julie Shepherd, Accentuate PR
Forward Looking Statements:
This release contains certain forward-looking statements and information relating to MariMed Inc., that is based on the beliefs of MariMed Inc. management, as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events including estimates and projections about its business based on certain assumptions of its management, including those described in this Release. These statements are not guarantees of future performance and involve risk and uncertainties that are difficult to predict, including, among other factors, changes in demand for the Company's services and products, changes in the economic environment and changes in technology. Additional risk factors are included in the Company's public filings with the SEC. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as "hoped," "anticipated," "believed," "planned, "estimated," "preparing," "potential," "expected" or words of a similar nature. The Company does not intend to update these forward-looking statements. None of the content of any of the websites of any other party referred to herein (even if a link is provided for your convenience) is incorporated into this release and the Company assumes no responsibility for any of such content.