MariMed To Expand Footprint In Massachusetts With Dispensary Acquisition In Quincy

MariMed, Inc. MRMD MRMD announced its intention to acquire the operating assets of Ermont, Inc., a medical licensed vertical cannabis operator, located in Quincy, MA. Ermont who is presently in receivership with a court appointed receiver Opus Consulting Partners LLC. Opus and MariMed negotiated this transaction with court approval.

The acquisition, which is subject to approval by the Massachusetts Cannabis Control Commission (“CCC”), will provide the company with its third dispensary in Massachusetts, substantially completing its buildout to the maximum allowable by state regulations. There is no assurance when, or if, the CCC will approve the acquisition.

The company anticipates rebranding the dispensary as Panacea Wellness and will commence medical sales upon receipt of final approvals and closing conditions. MariMed will offer a curated selection of products across its award-winning brand portfolio, including Nature’s Heritage flower and concentrates, Betty’s Eddies fruit chews, Bubby’s Baked soft-baked goods, Vibations: High + Energy drink mixes, and the full suite of its InHouse branded products.

The acquisition includes two host community agreements with the city of Quincy, one of which is to conduct adult-use cannabis sales. MariMed is applying with the CCC for approval of adult sales and plans to expand the existing medical dispensary to accommodate the increased traffic. Additionally, the company plans to repurpose the cultivation facility for its pheno-hunting activities. This will allow the company to move pheno-hunting out of New Bedford and use the freed space for much needed additional capacity of their award-winning Nature’s Heritage flower.

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