MariMed Expands to Maryland with Opening of Cannabis Cultivation Facility in Hagerstown
MariMed Client Commences Cannabis Cultivation and Production
NEWTON, Mass. and HAGERSTOWN, Md., Nov. 21, 2017 (GLOBE NEWSWIRE) -- MariMed Inc., (OTCQB:MRMD) client Kind Therapeutics USA LLC (Kind) has successfully passed the Maryland Cannabis Commission compliance inspection of its newly renovated facility designed and developed by MariMed and has commenced cultivation in Hagerstown Maryland at the site of the former Statton Furniture Company. MariMed acquired the 180,000 sq. ft. property, which had been vacant for a decade, and renovated it into a secure, state of the art cannabis cultivation and production facility. MariMed has leased the facility to Kind Therapeutics, which is expected to employ up to 100 staff and have capacity to produce over two tons of high quality organic cannabis medicine.
|
|||||
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a541e412-3c45-4e49-b146-acf6cc1fb85a
Utilizing MariMed’s proven practices and procedures, Kind’s team has successfully begun cultivation of its first cannabis crop. Kind expects to distribute and sell cannabis medicine and products from its first harvest throughout Maryland in the first quarter of 2018.
“Kind Therapeutics’ cultivation team has quickly learned our MariMed processes that have been proven effective in facilities we developed and manage in multiple states,” stated Tim Shaw, MariMed COO. “We’re thrilled to be partnering to bring economic development and skilled jobs to the area while doing what MariMed does best: providing the management services and branded formulations that will help Kind Therapeutics excel at cultivation, production and distribution of safe, effective, precision-dosed medical cannabis for certified patients’ relief.”
“MariMed has been a true partner in providing expertise and best practices to navigate the complex regulatory requirements,” stated Kind Therapeutics CEO Dr. Susan Zimmerman. “They took us smoothly from license applicant to completion of a state of the art facility that will create some of the highest quality products in the state.”
Kind’s relationship with MariMed is an example of using MariMed’s full range of managed services from seed-to-sale. The Hagerstown cultivation and production facility is the latest state-of-the-art, regulatory-compliant facility that MariMed has developed spanning multiple states.
About MariMed Inc.:
MariMed designs, develops, finances, and optimizes medical cannabis cultivation, production, and dispensary facilities as a management service. MariMed's team has developed or is in the process of developing state-of-the art regulatory-compliant facilities in DE, IL, NV, MD, MA and RI. These facilities are models of excellence in horticultural principals, cannabis production, product development, and dispensary operations. MariMed is on the forefront of precision dosed branded products for the treatment of specific medical symptoms. MariMed currently distributes its branded products in select states and is expanding licensing and distribution to numerous additional states encompassing thousands of dispensaries. MariMed Inc., is one of the 17 top-performing public cannabis companies in the U.S. tracked on the U.S. Marijuana Index, (www.marijuanaindex.com). For additional information, visit www.MarimedAdvisors.com
About MariMed’s Branded Products
MariMed Inc., develops precision dosed, branded cannabis products designed to make treatment a part of life that patients enjoy. MariMed’s products go through rigorous R & D and multiple layers of internal and third party laboratory testing to ensure consistency and precise dosing in product formulations. Its brand Kalm Fusion evokes “Kalm” as a lifestyle product, which aims to bring relief through an enjoyable and reliable, patient-controlled treatment option. Kalm Fusion’s products include Mari Melts sublingual strips in three flavors (mint, berry and citrus), low-dose Chewable Tablets, Kalm-Corn microwave popcorn, and Powdered Tincture formulated drink mix in two flavors (Green Tea Lemonade and Mango Lime Coconut). MariMed‘s Betty’s Eddies cannabis-infused Berry Bombs and Fruit Chews are handcrafted with the finest all-natural ingredients -- lactose free, gluten free and naturally preservative free -- for the best experience. Betty’s Eddies uses only non-GMO organic fruits and vegetables for color and flavor. All MariMed products are available in THC and CBD formulations with childproof packaging. For more information on products and licensing, visit www.KalmFusion.com or www.BettysEddies.com.
About Kind Therapeutics
Kind Therapeutics USA LLC, is a Maryland-based medical cannabis company led by Dr. Susan Zimmerman, a physician specializing in pain management; Ms. Jennifer DiPietro, leader of R&R Construction, a minority general contractor; and Ms. Sophia-Leonard-Burns, a physician assistant specializing in pain and patient care. Kind, working collaboratively with MariMed Advisors, was awarded a cultivation, production and dispensary license from the State of Maryland. Kind received approval from the Maryland Cannabis Commission to open its cultivation facility in Hagerstown in October 2017.
CONTACTS:
For MariMed
Business Development
Jon Levine, CFO, MariMed
+1 844-244-0200
Investor Relations
Tyler Troup, Circadian Group
tyler@circadian-group.com
+1 (866) 950 8300
Media Relations
Julie Shepherd, Accentuate PR
Julie@accentuatepr.com
+1 847-275-3643
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.
Released November 21, 2017