MariMed Expands its Betty's Eddies™ Chews to Maine, the Fifth State to Carry the Best-Selling Brand
Company meets high demand for its full-spectrum, vegan edibles with expansion into The Pine Tree State
NORWOOD, Mass., May 13, 2021 /CNW/ - MariMed, Inc. (OTCQX: MRMD) (the "Company" or "MariMed"), a multi-state cannabis operator focused on health and wellness, has announced that its award-winning Betty's Eddies brand is now available for purchase at licensed retailers in Maine. Betty's Eddies launches in Maine with a reformulated, softer chew that will be rolled out across additional markets this year.
MariMed's Betty's Eddies edibles were one of the first vegan products to be introduced to the cannabis industry and were included in Pioneer Intelligence's 2020 Top 25 Hottest U.S. Edibles Brands. They are infused with full-spectrum cannabis oil for a complete entourage effect experience and made with organically-grown fruits and vegetables. The Company is expanding access to Betty's Eddies to meet the increasing consumer demand for all-natural, vegan products.
"Betty's Eddies is one of the most popular cannabis edible brands in the U.S. and MariMed remains committed to product innovation to meet evolving consumer preferences," said Bob Fireman, CEO of MariMed. "Today, consumers prefer products thoughtfully made with natural ingredients - ingredients they can pronounce and are familiar with. MariMed is one of the few cannabis companies currently providing products that meet those needs in the form of a delicious, vegan edible. This is another step in our strategy to expand MariMed brands into markets that offer unique opportunities to generate revenues and better serve our customers."
Between January and October 2020, medical marijuana sales in Maine reached $221.8M, making cannabis Maine's most valuable crop even before adult-use sales launched on October 9, 2020. The state's recreational cannabis market sold $1.4M worth of product in the month following legal sales. Adult-use cannabis sales continue to climb in the state, with a total of $2.5M in sales in January 2021, up $500k from the previous month.
In addition to Maine, Betty's Eddies chews are available for sale at more than 250 licensed medical and adult-use cannabis dispensaries in Maryland, Massachusetts, Nevada, Rhode Island, and Puerto Rico.
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, keeping it at the forefront of cannabis science and innovation. Proprietary formulations created by the Company's technicians are embedded in its industry-leading products and brands, including Betty's Eddies™, Nature's Heritage™, Bourne Baking Co., and Kalm Fusion™. 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 guaranteeing 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.
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SOURCE MariMed Inc.
Released May 13, 2021