MariMed Inc. (OTC:MRMD) just announced that the company has completed a $5,150,000 capital raise. The capital was raised through the sale of 22,178,889 shares in a private placement to accredited investors. MariMed intends to use the funds to develop and expand its clients’ facilities in Maryland and Delaware and to market their Kalm Fusion line of precision dosed cannabis products in additional states.
MariMed Advisors' CEO, Mr. Robert Fireman
“The funding we received demonstrates strong investor support and confidence in MariMed’s business model and proven track record of our management team. We have successfully built a business model with proven best practices that we have scaled and replicated in our clients’ cannabis facilities in multiple states. In the first quarter of 2017, MariMed Inc., revenue was nearly double that of the comparable quarter in 2016. Management expects to continue this similar growth trajectory going forward.”
MariMed Advisors' CFO, Mr. Jon Levine
“MariMed has a strong new business pipeline that contains many more potential license applicants and new facilities in the works as additional states legalize cannabis and loosen their restrictions. Going forward, MariMed is well positioned to take advantage of this tremendous opportunity with our unique business model coupling the proven expertise to win licenses, design, build and operate facilities successfully within the legal parameters, along with much-needed funding for cannabis companies to build their facilities.”
MariMed assists medical cannabis companies in design, development, operation, funding, and facility optimization. To date, MariMed has developed five facilities in three states (including one that recently opened in Nevada), with six more facilities currently in development.
MariMed has also developed precision dosed cannabis products for treatment of specific medical conditions. These products are being distributed in three states, with an additional six states expected to come online soon.
In early trading Tuesday, shares of MariMed are down more than 5%. Year-to-date, MariMed is up more than 160%!
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