NORWOOD, Mass. — MariMed, Inc. (“MariMed” or the “Company”) (OTCQX: MRMD), a leading multi-state cannabis operator focused on improving lives every day, today announced a licensing agreement with East Coast Cannabis Company, a vertical cannabis producer and distributer in the Maine Cannabis market. The licensing agreement provides for the adult-use distribution of MariMed’s top-selling brand, Betty’s Eddies full-spectrum fruit chews and the other successful SKUs in the line-up, including Bedtime Betty’s. The intention longer-term is to roll out other edibles brands in MariMed’s portfolio, including Bubby’s Baked soft and chewy baked goods and Vibations: High + Energy powder energy drink mix. Terms of the deal were not disclosed.
The licensing deal is aligned with the Company’s strategic growth plan to distribute its brands in legal cannabis states across the country. The Company anticipates Betty’s Eddies will be available to Maine’s residents and seasonal adult-use customers in the coming months.
“We are thrilled to partner with East Coast Cannabis Company for the production and distribution of our award-winning Betty’s Eddies branded products in the Maine adult-use cannabis market,” said Ryan Crandall, Chief Revenue Officer for MariMed. “Maine is an underappreciated adult-use cannabis market. While the state’s population is just over one million, Maine attracts as many as 37 million tourists annually, rivaling that of the Las Vegas Strip.”
Betty’s Eddies has been available to Maine’s medical cannabis patients since early 2021 through a separate licensing agreement. Betty’s Eddies has been a top-selling edible in all the states in which it’s been available. The adult-use cannabis market in Maine is projected to grow to $500 million dollars in 2025 according to Cowen Research.
MariMed Inc., a multi-state cannabis operator, is dedicated to improving lives every day through its high-quality products, its actions, and its values. The Company develops, owns, and manages seed to sale state-licensed cannabis facilities, which are models of excellence in horticultural principles, cannabis cultivation, cannabis-infused products, and dispensary operations. MariMed has an experienced management team that has produced consistent growth and success for the Company and its managed business units. Proprietary formulations created by the Company’s technicians are embedded in its top-selling and award-winning products and brands, including Betty’s Eddies, Nature’s Heritage, Bubby’s Baked, K Fusion, Kalm Fusion, and Vibations: High + Energy. For additional information, visit www.marimedinc.com.
- Commentary: It’s time for Biden to keep his promises on cannabisPaul Armentano, the deputy director of the National Organization for the Reform of Marijuana Laws (NORML), calls on President Joe Biden to live up to the pledges made during his campaign regarding cannabis legalization.
- Unofficial totals show Missouri cannabis legalization initiative shortAn initiative to legalize recreational marijuana use in Missouri will need help if it is going to be on the November ballot. Reports from every county in the state show the petition is short of its goal in two of the six congressional districts needed to qualify for the ballot.
- Fate of Missouri cannabis initiative unclear as signature count continuesWhether Missouri voters will get a chance to legalize recreational marijuana in November is still in question. The latest incomplete tabulations show the Legal Missouri 2022 initiative is short of the necessary signatures in four of the six Congressional districts necessary to make the ballot.
- ACLU of NV suit to deschedule cannabis statewide survives challengeA legal effort by the ACLU of Nevada to force the Nevada Board of Pharmacy to remove cannabis from its Schedule 1 of controlled substances will proceed, Clark County Judge Joe Hardy ruled Wednesday when he denied the board’s motion to dismiss the ACLU’s lawsuit.
- Advocates, parents ‘beg’ Nebraskans to seek out and sign petition to legalize medical cannabisAdvocates for legalizing medical marijuana switched Wednesday from urging Nebraskans to sign their petition to begging them as a July 7 deadline looms to submit signatures to qualify for the ballot in November.
- Iowans launch cannabis reform campaign aimed at showing public supportRobert “Lewy” Lewis of Windsor Heights has been in pain since 1974, when he had spinal surgery at the age of 21. To repair a blockage in his spine, surgeons removed eight inches of his vertebrae and then sewed them back on, using about 300 steel stitches.
- Big Apple Cannabis: CWCB Returns to New York City for Eighth Year“No one seems to have gotten it right.” Mayor Eric Adams told a Friday afternoon crowd, of legal cannabis in America. “This is our chance to get it right.” New York City’s mayor addressed attendees of the 2022 Cannabis World Congress & Business Expo (CWCBExpo) on the second day of the three-day event. Adams stressed the social equity focus of New York’s cannabis program.
- Nebraska medical cannabis backers file legal challenge to petition processSupporters of medical marijuana in Nebraska have launched a legal challenge to the state’s requirement that 5% of registered voters in at least 38 counties sign a petition to get the measure before voters on the ballot.
- N.J. lawmakers seek to curb cannabis useAs New Jersey nears the end of its first month of legal recreational marijuana sales, lawmakers have introduced a series of bills aimed at restricting what types of workers can use cannabis off the job.
- Missouri House votes to require disclosure of medical cannabis ownership recordsThe Missouri House voted overwhelmingly Tuesday to require state regulators to disclose ownership information for businesses granted medical marijuana licenses that the state has withheld from public view.