MariMed Inc. Signs Multi-State Licensing Agreement to Bring Binske Cannabis Brands to Eastern Markets
NORWOOD, MA, July 30, 2019 (GLOBE NEWSWIRE) -- MariMed Inc. (OTC: MRMD), a leading multi-state cannabis operator focused on health and wellness, today announced a licensing agreement with Denver-based Binske, which offers an innovative range of diverse cannabis products. Under the terms of the agreements, MariMed is licensed to manufacture and distribute the Binske portfolio of products in seven states: Illinois, Ohio, Massachusetts, Rhode Island, Maryland, Delaware, and Maine, adding substantially to the availability of Binske brands, which are currently licensed in Colorado, Nevada, Florida, and California. The Binske brands include a variety of consumer options, including concentrates, edibles, vaporizers, and topicals.
Ryan Crandall, MariMed's Chief Product Officer and SVP Sales, stated, "Binske is a popular brand in Colorado and Nevada, and we are enthusiastic about the potential of its products in the markets where we operate. Binske will be an exciting addition to the diverse portfolio of seven brands MariMed currently owns and licenses, such as Betty's Eddies™, Nature’s Heritage™ and Kalm Fusion™, among others. Binske conforms to MariMed’s standards of high quality and expert formulation that our customers rely on. We expect to have Binske products available during the fourth quarter of 2019."
"Binske branded products will be a very successful addition to MariMed’s diverse portfolio available in our extensive channels in multiple states," stated Bob Fireman CEO of MariMed. "We quickly realized the exceptional quality of their brand and products. More importantly, their management team shares our vision of how to build winning brands in the cannabis industry."
Alex Pasternack, Executive Vice President of Binske, said, "MariMed’s first business was in advising cannabis companies on diverse licensing and regulatory environments, and since then they have built a formidable network of operations in their territories. We couldn’t have a better partner to introduce our brands to important new markets."
Jake Pasternack, Founder, Chairman, and CEO of Praetorian Global LLC, Binske's parent company stated, "The fact that Binske products will soon be available in retail outlets from Malibu to Martha's Vineyard gives us access to reach an unprecedented number of potential consumers. That access, coupled with the ability for those consumers to know they will get the same Binske product, no matter where they buy it, is paramount to building consumer patronage and most importantly trust."
About MariMed, Inc:
MariMed, Inc. is dedicated to improving health and wellness with the highest quality hemp and cannabis products. The company offers a full range of cannabis products, operates state of the art cannabis dispensaries in six states, and has a separate division, MariMed Hemp, focused on the development of industrial hemp-derived CBD products. MariMed owns a significant stake in Kentucky-based GenCanna, a recognized genetic innovator in industrial hemp, and recently acquired MediTaurus, a purveyor of high-quality CBD wellness products in the U.S. and Europe under the Florance™ brand. Across its branded products, MariMed is at the forefront of precision dosed products for the treatment of specific medical symptoms. MariMed currently distributes its branded hemp and CBD products in select states and is expanding licensing and distribution to numerous additional markets encompassing thousands of dispensaries, pharmacies, and wholesalers.
For additional information, visit MariMedInc.com.
Founded by CEO Jake Pasternack in 2015, Binske (the “e” is silent as in “smoke”) is a multi-state cannabis brand operating in 11 U.S. states: Colorado, Nevada, Florida, California, Illinois, Ohio, Massachusetts, Rhode Island, Maryland, Delaware, and Maine. Known for its best-in-class proprietary strains and craft ingredients which has earned it multiple awards including Leafly’s Best Edibles, Best Concentrates, and Best Overall Company. The company is a division and registered trademark of privately held, Denver-based, Praetorian Global, which holds interests in THC and CBD-related brands throughout the U.S.
For additional information, visit binske.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.’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.
Released July 30, 2019