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MariMed Names New CEO and CFO, Transitions to Focus on MMJ

July 25, 2017

 

MariMed Inc. (OTC:MRMD) is a Massachusetts-based cannabis consulting company that has developed five medical cannabis facilities in three states and is in the process of developing six more facilities in two additional states. 

 

Now Read: MariMed Client Opens Nevada MMJ Cultivation Facility

 

Earlier today, MariMed announced that the company's board of directors has appointed a new CEO and a new CFO in the final stage of the company's transition to focus solely on cannabis.

 

In May, the company's wholly-owned, cannabis focused subsidiary, MariMed Advisors, Inc. acquired the remaining equity position of Sigal Consulting LLC, changed the company's name to MariMed Inc., and changed its ticker from "WORX" to "MRMD". In accordance with this transition, MariMed has appointed the former CEO and the former CFO of MariMed Advisors, Mr. Robert Fireman and Jon Levine to their respective roles in the "new" MariMed Inc. 

 

Mr. Fireman and Mr. Levine founded MariMed Advisors and have 10 years of experience in the legal cannabis industry. Additionally, they both have proven successful track records in a variety of other industries. 

 

Mr. Fireman had this to say about the transition: 

 

“This change in management, completes our orderly transition to focus solely on cannabis services. These roles will allow us to fully maximize each of our capabilities and experience to drive MariMed’s strategic growth   It is in the company’s best interest to have management with in-depth knowledge across a wide spectrum of legal cannabis areas.   We have a solid team in place to accelerate our momentum as we finish the development of the six cannabis facilities currently underway, expand the distribution of our new licensed product brands and grow our client base for cannabis facility managed services.”

 

Market Reaction

 

In early trading Tuesday, shares of MariMed are flat on extremely light trading volume. We'll be watching to see if any additional volume or volatility comes into the market on today's news, or even just the additional media exposure regarding MariMed as this transition was much anticipated and doesn't really represent a material change to the company's prospects. 

 

Although the company had some cannabis industry exposure previously, since MariMed's May 11th announcement of their transition to focus solely on the cannabis consulting business, shares of MRMD have surged more than 110%! 

 

Conclusion

 

We're working on a marijuana stock profile for MariMed, Inc. so check back soon, or subscribe to our free email newsletter to find out when it becomes available. 
 
In the meantime, check out MariMed's peers in the cannabis consulting industry by visiting our marijuana consulting stocks database.


Also be sure to subscribe to one or more of our free newsletters so you never miss an important cannabis update. If you haven't already, connect with The Daily Marijuana Observer on FacebookTwitterInstagramPinterest and StockTwits.

 

D/M/O

 

Disclaimer
 
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Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.