MariMed Begins Adult Sales at Thrive Wellness Pharmacy in Tiffin, Ohio

NORWOOD, Mass., Sept. 24, 2024 (GLOBE NEWSWIRE) — MariMed Inc. (“MariMed”) (CSE: MRMD) (OTCQX: MRMD), a leading multi-state operator in the medical cannabis industry dedicated to improving the quality of life every day, today announced the launch of adult-use retail sales at its The Blossom of Well-Being Tiffin, Ohio clinic.

Since opening in June 2023, the dispensary has operated solely as a medical facility, offering a diverse selection of brand-name flowers and food products from across the state.

“We are excited to launch adult-use sales in Ohio,” said Jon Levine, CEO of MariMed. “We have long believed that Ohio would be one of the largest cannabis markets in the country, and our highest M&A priority remains to become a vertical operator as soon as possible.”

According to Ohio Department of CommerceOhio’s medical marijuana industry is expected to generate nearly $500 million in retail sales in 2023, which is expected to grow significantly with the addition of adult-use sales. Ohio, with a population of 11.8 million, is the seventh most populous state in the United States. MariMed is prioritizing Ohio in its M&A strategy to expand its operational presence to the fullest extent permitted.

About MariMed
MariMed Inc., a multi-state operator in the cannabis industry, is dedicated to improving the quality of life every day through its high-quality products, operations and values. The company develops, owns and manages state-licensed cannabis facilities that are models of excellence in horticultural principles, cannabis cultivation, cannabis-infused products and dispensary operations. MariMed has an experienced management team that has ensured continued growth and success for the company and its managed business units. Proprietary formulas created by the company’s technicians are embedded in top-selling and award-winning products and brands, including Betty’s Eddies™, Nature’s Heritage™, InHouse™, Bubby’s Baked™, K Fusion™, Kalm Fusion™ and Vibations™. For additional information, visit www.marimedinc.com.

IMPORTANT NOTES REGARDING FORWARD-LOOKING STATEMENTS:

The information in this release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to numerous risks and uncertainties. All statements other than statements of historical fact contained in this release, including without limitation statements regarding projected financial results for 2024, including management’s belief that it will report its fifth consecutive year of positive cash flow from operations, anticipated pharmacy and facility openings, timing of regulatory approvals, management’s plans and objectives for future operations, are forward-looking statements. Without limiting the foregoing, the words “anticipates,” “believes,” “estimates,” “expects,” “anticipates,” “intends,” “may,” “plans” and other similar expressions, whether in the negative or affirmative form, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

Forward-looking statements are based on our current beliefs and assumptions regarding our business, the timing of regulatory approvals, the possibility of obtaining new licenses, our business prospects and strategic growth plan, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Our actual results could differ materially from those anticipated in these forward-looking statements due to various risks, uncertainties, and other important factors, including, among other things, reductions in customer spending, our ability to recruit and retain key personnel, and disruptions resulting from the integration efforts of acquired businesses.

These factors are not intended to be a comprehensive list of the risks and uncertainties that may affect our business and results of operations. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, including, among other things, changes in demand for the Company’s services and products, changes in law and enforcement, and changes in the economic environment. Additional information regarding these and other factors can be found in our reports filed with the U.S. Securities and Exchange Commission. By making these forward-looking statements, the Company expressly disclaims any obligation to update these statements publicly or otherwise, whether as a result of new information, future events or otherwise, except as required by law.

All trademarks and service marks are the property of their respective owners.

Company contact:
Howard Schacter
Communications Director
E-mail: [email protected]
Phone: (781) 277-0007

Contact for investors:
Steve West
Vice President of Investor Relations
E-mail: [email protected]
Phone: (781) 277-0007