MariMed Launches Hemp Engine™ Marketing Platform for CBD Distributors, Retailers and Consumers
- Proprietary system developed by the Hemp Engine™ development team and Sprout™, the leading CRM provider to the cannabis industry and a MariMed strategic partner
- A turnkey retail and educational in-store platform for emerging CBD sector
- Provides major benefits to both small and mass market retailers and their customers
Norwood, MA, Aug. 05, 2019 (GLOBE NEWSWIRE) -- MariMed Hemp, a subsidiary of MariMed, Inc. (OTCQB: MRMD), a leading multi-state cannabis and hemp operator focused on health and wellness, has launched the Hemp Engine™, a turnkey retail marketing platform for the fast-growing CBD sector.
The platform supports sales and marketing decisions for a wide range of CBD products based on quality, popularity and price point, allowing distributors and retailers to maximize returns and increase sales efficiency. Co-developed with Sprout™, the leading CRM provider to the cannabis industry, the platform is driven by proprietary data and technology.
The Hemp Engine solution includes a complete “store-within-a-store” package, pre-stocked with a range of CBD products centered on a retailer’s particular criteria. The platform collects real time data and pre-screens the data for quality and content. The system helps the retailer by reducing the time and risk typically involved in choosing among a wide and sometimes confusing array of CBD products. The package also includes electronic tablets that provide store customers interactive, educational information about CBD product attributes, benefits and usage at the point-of-sale.
“Hemp Engine creates powerful new distribution opportunities for our hemp-derived CBD brands,” commented MariMed CEO, Robert Fireman. “It will help us further penetrate the growing hemp space. We expect to deliver the first in-store installations over the next several weeks.”
Earlier this year, the company converted its $30 million debenture into a one-third equity ownership of GenCanna Global, Inc., the Kentucky-based, national leader in cultivation and production of seed-to-sale cGMP quality CBD. MariMed Hemp was established to augment this investment and capitalize on MariMed’s marketing expertise with a new family of CBD brands.
According to Rick Granoff, co-founder of the Hemp Engine: “The Hemp Engine addresses the major needs of retailers and consumers as CBD popularity and consumption continues to grow. As a one-stop-shop that greatly simplifies decision making for both groups, it demonstrates MariMed’s continued thought leadership in health and wellness and industry-leading innovative approach to the CBD space.”
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 and operates state-of-the-art cannabis dispensaries in six states. The MariMed Hemp division is 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. MariMed 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 remains at the forefront of precision dosed products for the treatment of specific medical symptoms. It currently distributes its branded hemp and CBD products in select states and is expanding licensing and distribution to additional markets that includes thousands of dispensaries, pharmacies and wholesalers.
For additional information, visit marimedinc.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.
Jon Levine, CFO
Released August 5, 2019