Popular “Caribbean” Cannabis Infused Product Introduced
NORWOOD, Mass., March 12, 2020 (GLOBE NEWSWIRE) -- MariMed Inc. (MRMD:OTCQX) (the “Company” or MariMed), a leading multi-state cannabis and hemp operator focused on health and wellness, announced today the launch of Tropizen Pique™, a popular Caribbean cannabis infused hot sauce, in Massachusetts by its licensed subsidiary ARL Healthcare. Through a partnership with Tropizen, a licensed cultivator and manufacturer of medical cannabis products in Puerto Rico, Tropizen Pique™ is the first cannabis product formulated in Puerto Rico to be sold in the United States. It will be available for purchase in adult and medical-use dispensaries across Massachusetts this month.
Tropizen Pique™, a unique cannabis infused culinary product for the U.S. market, will be sold in 2oz bottles targeting 100mg of THC. It includes a .5 tsp serving spoon to allow for microdosing of 5mg of THC per serving. Designed and formulated by professional chefs and culinary experts, the recipe contains three varieties of locally grown peppers and a mix of spices and herbs. It will be infused with a full spectrum cannabis extract onsite at ARL’s New Bedford production facility. Already an extremely popular infused product, over 85% of the dispensaries in Puerto Rico feature Tropizen Pique™ to meet strong consumer demand. The formula has been specially developed to optimize its distinctive flavor and preserve freshness throughout the transportation process to the U.S.
According to MariMed Chief Innovation Officer, Dr. Jokubas Ziburkus PHD, “The chemicals in peppers can contribute to an enhanced entourage effect when combined with specific concentrations of the terpenes in full-spectrum cannabis. Additionally, some peppers may contain capsaicin, which not only give peppers their spicy taste but can also provide analgesic properties. Tropizen Pique™ Hot Sauce represents the frontier of product development currently happening in lockstep with the scientific study of the cannabis plant and its beneficial synergies and healthcare applications.”
Ryan Crandall, Chief Product Officer and SVP of Sales at MariMed, commented, “As part of our product expansion strategy, MariMed is committed to producing unique, delicious and safe products for consumers. Tropizen Pique™ hot sauce is truly unique in the rapidly evolving cannabis edibles product category. We expect it will appeal to both new and experienced users looking for delicious products that are created with a culinary focus in mind. And, by using a delivery method designed for measured dosing, users can manage their consumption closely to control the desired effect.”
Marni Meistrell, Co-founder of Tropizen added, “We are very excited about partnering with MariMed to make this product accessible to consumers and patients in Massachusetts. Tropizen Pique™ represents an innovative and convenient way for consumers to add cannabis to their daily lifestyle. Crafted using only fresh ingredients, the distinctive Tropizen Pique™ formula is the result of a two-year development process that not only reflects Puerto Rico's culinary culture but also exemplifies the essence of our company philosophy and approach.”
Tropizen Pique™ hot sauce will be available in both adult and medical-use dispensaries around the state, including ARL’s Panacea Wellness Dispensary in Middleborough.
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MariMed Inc., a multi-state cannabis operator, is dedicated to improving the health and wellness of people through the use of cannabinoids and cannabis products. The Company develops, owns, and manages seed to sale state-licensed cannabis facilities, which are models of excellence in horticultural principles, cannabis cultivation, cannabis-infused products, and dispensary operations. MariMed has an experienced management team that has produced consistent growth and success for the Company and its managed business units.
The Company is at the forefront of science and innovation through research developed by its lab technicians and medical advisors resulting in industry-leading products and brands, including "Kalm Fusion" and "Betty's Eddies." These precision dosed products are focused on specific medical symptoms and are licensed and distributed across the country.
In 2019, with the enactment of the 2018 US Farm Bill, MariMed formed MariMed Hemp, a wholly owned subsidiary, to leverage its seed to sale cannabis platform and experience into the emerging hemp-based CBD industry. MariMed Hemp has developed and is marketing a portfolio of CBD brands and products to multiple retailers and direct to consumers both domestically and internationally. For additional information, visit marimedinc.com.
Important Caution Regarding 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 and developments in, and the outcome of, GenCanna’s Chapter 11 proceeding. 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.
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Tropizen is one of Puerto Rico’s leading cannabis cultivation and manufacturing companies, providing all-natural, highly effective infused edibles, topicals, concentrates and flower to dispensaries island wide. Strict quality control and lab testing ensures patients are consuming pure and safe products with accurate and consistent dosing. Its full spectrum cannabis-infused gummies, pilones, hot sauce and protein bites are known for their delicious flavor and balanced effects. Tropizen is committed to producing an extensive array of products using locally sourced ingredients to serve the needs of patients while supporting local communities.
For more information about Tropizen please visit www.tropizen.com.
Jon Levine, CFO
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