Worlds Online Acquires 100% of MariMed Advisors, Changes Name to MariMed
Focus Solely on Legal Cannabis After 3D Virtual Business Spinout
BOSTON, May 11, 2017 (GLOBE NEWSWIRE) -- Worlds Online (OTCQB:MRMD) formerly (OTCQB:WORX) has acquired the remaining 49% stake in MariMed Advisors for 75 million shares of common stock (restricted for 12 months), bringing its ownership of the subsidiary to 100%. Worlds Online has changed its name to MariMed Inc., and will focus solely on servicing the rapidly expanding $7 billion legal cannabis industry. MariMed is now trading under the new ticker “MRMD”. MariMed Inc., will spin out Worlds Online’s legacy 3D virtual community business to a newly formed subsidiary corporation.
MariMed Inc., will continue to support and expand the three synergistic lines of cannabis businesses developed by MariMed Advisors:
1) Managed Services - Design, develop, and manage operations of state licensed, state of the art cultivation, production, and dispensing cannabis facilities;
2) Real Estate Investment Capital - Purchase properties; fund building improvements, cultivation and production systems, and equipment which are leased to licensed cannabis companies, and capitalize on the lack of conventional banking and capital to the cannabis industry as a result of federal laws and corporate policies; and
3) Licensing and Branding – Market its Kalm Fusion brand of cannabis infused products through MariMed’s network of licensed manufacturers, distributors, and dispensaries in legal cannabis states/provinces across the US and Canada.
“I expect this reorganization of the company with a single business focus and new name will help us move to the next level after having established a solid reputation developing some of the foremost cannabis facilities with best business practices for the medical cannabis industry,” said Mr. Robert Fireman, CEO of MariMed Advisors, Inc. “With our new focus as a publicly traded legal cannabis business, we look forward to leveraging our competitive advantages and innovative leadership to expand our market share and prominence. The projected growth of legal marijuana presents a tremendous opportunity for those capable of navigating the complex landscape. Our experienced team has the legislative expertise, industry knowledge and strategic relationships, now backed by the public corporation structure necessary to more efficiently capitalize on the opportunity.”
“The consolidation of the remaining 49% of MariMed Advisors and spin out of the 3D assets will allow us to focus all of our resources on the cannabis industry, which the Cowen Report projects will grow to $50 billion in the U.S. by 2026,” stated Mr. Jon Levine, MariMed Advisors, Inc. CFO. “Being a single-focus business will allow us to communicate a clear message to our clients, shareholders and potential investors that we are fully committed to leveraging the power of the capital markets for our strategic growth in the cannabis industry. We anticipate increasing our shareholder value as we expand MariMed’s presence in an industry that is seeing dramatically growing public interest and investment coupled with high valuations and multiples.”
About MariMed (formerly Worlds Online):
MariMed Inc. is an industry leader in the design, development, operation, funding and optimization of medical cannabis cultivation and production centers and dispensaries. The MariMed team has developed, state of the art and regulatory compliant facilities in multiple states. These facilities are replicable and scalable model of excellence in horticultural principals, cannabis production, product development and dispensary operations. We are on the forefront of medical research working to create precision dosing to treat specific conditions. For further information visit MarimedAdvisors.com
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.
CONTACTS: MariMed Business Development Jon Levine, CFO, MariMed Advisors 844-244-0200 email@example.com Investor Relations +1-866-976-4784 firstname.lastname@example.org Media Relations Julie Shepherd, Accentuate PR 847-275-3643 Julie@accentuatePR.com
Released May 11, 2017