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MariMed Inc. (MRMD)

Other OTC - Other OTC Delayed Price. Currency in USD
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0.1418-0.0019 (-1.36%)
As of 1:49PM EDT. Market open.
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Neutralpattern detected
Previous Close0.1437
Open0.1401
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.1390 - 0.1573
52 Week Range0.1000 - 1.8000
Volume345,457
Avg. Volume1,566,120
Market Cap35.183M
Beta (5Y Monthly)1.71
PE Ratio (TTM)N/A
EPS (TTM)-0.3920
Earnings DateMay 28, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    MariMed Nature’s Heritage Flower Brand Expands Product Offerings to Meet Strong Consumer Demand

    * Launched February 2020, Nature’s Heritage has quickly become a top selling flower brand in Massachusetts * Capitalizing on high consumer demand, Nature’s Heritage will expand its product offerings to include concentrates, vaporizers, and pre-rolls in Q3 2020 NORWOOD, Mass., July 30, 2020 (GLOBE NEWSWIRE) -- MariMed Inc. (MRMD:OTCQX) (the “Company” or “MariMed”), a leading multi-state cannabis and hemp operator focused on health and wellness, today announced that it will roll out an expanded line of products derived from its Nature’s Heritage premium flower brand during the second half of 2020. The products will have an updated new design, reinforcing attributes of the strains and the brand.Launched in February 2020 in Massachusetts and in Q1 2018 in Maryland, Nature’s Heritage has quickly become one of the top-selling and most sought-after flower brands in both these state markets. As a result of this success, MariMed will introduce a new variety of products under the Nature’s Heritage brand, including concentrates, a variety of RSO products, vaporizers, and pre-rolls, in the second half of 2020. These products have been developed as enhanced delivery methods rooted in consumer research, market demand, and sales trends.“I am incredibly proud of our team, growing Nature’s Heritage into a leading flower brand that delivers a superior customer experience,” said Timothy Shaw, Chief Operating Officer at MariMed. “We believe brands such as Nature’s Heritage will set the bar for product quality in the cannabis industry.”Nature’s Heritage flower is curated, cultivated, and harvested using proprietary processes developed by MariMed. Curation and cultivation are the core of the brand, guided by a data-driven approach to continually improve each cannabis strain. MariMed’s cultivation and formulation teams utilize their years of experience to produce top shelf cannabis flowers and infuse formulations from those flowers into new and innovative cannabis products. This MariMed team will continue to drive innovation and market leadership for the Nature’s Heritage brand.Ryan Crandall, MariMed’s Chief Product Officer added, “We are a forward-thinking company focused first and foremost on building customer loyalty through our trusted and consistent products. We remain committed to developing leading, innovative cannabis brands in every category of the cannabis marketplace. Our investment in expanding the Nature's Heritage product portfolio, and updating the brand’s look and feel, highlight and advance this commitment.”About MariMed: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 "Betty's Eddies™”, Nature’s Heritage™”, Bourne Baking Co.", and “K Fusion”. These precision dosed products are focused on specific symptoms and conditions and are licensed and distributed across the country.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. 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.     All trademarks and service marks are the property of their respective owners.Company Contact Jon Levine, CFO MariMed Inc. Tel (781) 559-8713Media Contact Abigail Diehl MariMed Inc. adiehl@marimedinc.comAnnie Graf KCSA Strategic Communications agraf@kcsa.comInvestors KCSA Strategic Communications Scott Eckstein / Elizabeth Barker MRMD@kcsa.com

  • GlobeNewswire

    MariMed Announces Debt Restructuring Actions and Improved Revenues and Cash Flow

    * Closes $13.0 million mortgage-backed refinancing at 6.5% * Retires $7.3 million of short-term higher rate debt * Revenues and cash flow from consolidated cannabis operations continue to increaseNORWOOD, Mass., July 23, 2020 (GLOBE NEWSWIRE) -- MariMed Inc. (OTCQX: MRMD) (the “Company” or MariMed), a leading multi-state cannabis and hemp operator focused on health and wellness, today announced that it has completed actions to restructure its debt, which will reduce interest costs while maximizing financial flexibility.The Company closed a $13.0 million mortgage-back refinancing secured by its Massachusetts real estate, replacing a $4.8 million mortgage secured by one of the properties.  This five-year loan, at an annual interest rate of 6.5%, amortizes over 20 years.  The Company retired $7.3 million of outstanding short-term debt at 15%, including a $4.0 million reduction in the note due to SYYM LLC.The Company also reported it is experiencing improved cash flow from operations due to robust sales in the adult use programs in its consolidated licensed businesses in Illinois and Massachusetts as well as increased revenue from sales in their managed medical businesses in Delaware and Maryland. The Company’s manufacturing facility in New Bedford, Massachusetts ramp-up to full production is almost complete.  The two Illinois dispensaries continue to flourish in the adult use program and a third dispensary in Mt. Vernon is finalizing requirements to begin operations.  In addition, in Massachusetts, the Company just completed its Cannabis Control Commission (“CCC”) adult use inspection for its cultivation and production facility in New Bedford and its Panacea Wellness Dispensary in Middleborough and is hopeful to be on the CCC agenda for approval in early August.“Our ability to secure financing on more favorable terms is a result of our operational performance and validates the strength of our business strategy. We are pleased to have strengthened our balance sheet with this debt restructuring,” stated Jon Levine, the Company’s Chief Financial Officer. “This restructuring, coupled with increases in revenues and cash flow from our consolidated cannabis businesses in Illinois and Massachusetts, and from our managed clients businesses in Delaware and Maryland, position MariMed for a continued strong performance for the balance of 2020.”Ryan Crandall, Senior Vice President of Sales, added, “We expect Massachusetts sales of our ‘Nature’s Heritage’ branded products will rise each month as our New Bedford cultivation facility fully expands into 17 state-of-the-art cultivation rooms. Consumer feedback from both the Medical and Adult Use Programs indicates Nature’s Heritage is quickly becoming the most sought-after flower brand in the state.  Our Betty’s Eddies fruit chews quickly sell-out every craft production run and is on its way to becoming the most popular infused cannabis brand in the state. We will continue to ramp our production capabilities across all branded product categories throughout 2020 and into 2021.”                                                              About MariMed: 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", "Betty's Eddies" and Bourne Baked Goods. 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.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.All trademarks and service marks are the property of their respective owners.Company Contact Jon Levine, CFO MariMed Inc. Tel (781) 559-8713Media Contact Abigail Diehl MariMed Inc. adiehl@marimedinc.comAnnie Graf KCSA Strategic Communications agraf@kcsa.comInvestors KCSA Strategic Communications Scott Eckstein / Elizabeth Barker MRMD@kcsa.com

  • Cannabis Industry Company Investor Presentations Now Available for On-Demand Viewing
    PR Newswire

    Cannabis Industry Company Investor Presentations Now Available for On-Demand Viewing

    Virtual Investor Conferences, the leading proprietary investor conference series, today announced that the presentations from the June 24th cannabis conference are now available for on-demand viewing at VirtualInvestorConferences.com.