NORWOOD, MA, June 17, 2019 (GLOBE NEWSWIRE) -- MariMed Inc. (MRMD), a leading multi-state cannabis operator focused on health and wellness, today released the following statement from management regarding recent stock volatility and a recent change to its Board of Directors:
MariMed Inc. continues to experience the positive fundamental trends in its operating results as reported over the last several quarters, driven by executing its strategic plan for expansion on many fronts in both the cannabis and hemp-based CBD markets. Management was concerned last week that the share price volatility appeared to coincide with the recent resignation of a member of its Board of Directors, as outlined in a recent Form 8K filing. This former director had no involvement in the day to day management or operations of the Company and his departure had been anticipated for some time. The Company is actively looking to replace him and has identified several qualified candidates.
Mr. Bob Fireman, CEO, stated: “The Company continues to execute on its strategic plan for consolidation and growth of its revenue and assets. It is important that the Company continues to seek additional outside independent directors with hands on expertise and experience germane to our industry and the dynamic growth our company continues to experience.”
About MariMed Inc.
MariMed, Inc. is dedicated to improving health and wellness with the highest quality hemp and cannabis products. The company offers a full range of cannabis products, operates state of the art cannabis dispensaries in six states, and has a separate division, MariMed Hemp, focused on the development of industrial hemp-derived CBD products. MariMed owns a significant stake in Kentucky-based GenCanna, a recognized genetic innovator in industrial hemp, and recently acquired MediTaurus, a purveyor of high-quality CBD wellness products in the US and Europe under the Florance™ brand. Across its branded products, MariMed is in the forefront of precision dosed products for the treatment of specific medical symptoms. MariMed currently distributes its branded hemp and CBD products in select states and is expanding licensing and distribution to numerous additional markets encompassing thousands of dispensaries, pharmacies and wholesalers.
For additional information, visit www.marimedinc.com.
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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.’s 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 law and its enforcement and changes in the economic environment. 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," “looks” 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 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.