MariMed Signs LOI to Invest in Cannabis Venture Partners to Expand Sprout CRM Platform Throughout Cannabis Industry
CVP focused on utilizing technology, data and content to accelerate growth and connect cannabis brands to consumers
NEWTON, MA, June 29, 2018 (GLOBE NEWSWIRE) -- MariMed, Inc. (OTCQB: MRMD), a seed to sale cannabis company, and Cannabis Venture Partners, LLC (CVP), developers of Sprout, an innovative CRM and marketing software platform for the cannabis industry, today announced that MariMed has signed a letter of intent (LOI) to make a strategic investment in Cannabis Venture Partners.
"MariMed and Cannabis Venture Partners share the same vision and ambition to deliver incredible experiences to millions of cannabis consumers and businesses all around the globe,” said MariMed CEO, Robert Fireman. “We are excited about the growth potential of this investment and partnership opportunity with CVP as they transform the way cannabis businesses engage and market to the consumer.”
CVP’s flagship technology, Sprout, is an all-in-one CRM and marketing software designed for dispensaries and cannabis brands. The Sprout software platform is used today by dispensaries and cannabis brands in nine states and its clients - brands and dispensaries - typically achieve 10x return on their marketing spend to acquire, retain, and increase share of wallet with their customers.
“We have been big fans of Sprout’s marketing engine and it has helped MariMed acquire new customers and keep them coming back,” stated Jon Levine, CFO of MariMed. “We’ve been using their technology for several years now and it is undeniably the best CRM and marketing platform in the cannabis industry today.”
Through its partnership with MariMed, Cannabis Venture Partners will continue to develop and expand the Sprout platform and launch new technologies, data and content that are consumer-centric and help dispensaries and cannabis brands increase sales, improve customer loyalty and reach more customers.
"We are excited to partner with MariMed, a forward-thinking innovator with a stellar record of success in the cannabis industry,” stated Jaret Christopher, CEO of Cannabis Venture Partners. “With MariMed’s industry expertise and international reach, our partnership will help us realize our shared goal of utilizing technology, data and content to deliver cannabis around the world.”.
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About MariMed Inc.:
MariMed designs, develops, finances, and optimizes the success of medical cannabis cultivation, production, and dispensary facilities. MariMed’s team has developed 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. In addition, 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 markets 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 Cannabis Venture Partners, LLC.
Cannabis Venture Partners, LLC owns and operates proprietary technology, data and content related businesses that connect cannabis companies with consumers. The Company’s flagship product, Sprout, is an all-in-one CRM and marketing software used by dispensaries and cannabis brands.
For additional information visit: www.cannabisventurepartners.com or www.sprout.online
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" 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.
Media Contacts: For MariMed Business Development Jon Levine, CFO, MariMed info@MariMedAdvisors.com 781-559-8713 Investor Relations Tyler Troup, Circadian Group tyler@circadian-group.com +1 (866) 950 8300 Media Relations Julie Shepherd, Accentuate PR Julie@accentuatepr.com 847-275-3643
Released June 29, 2018