Marimed Inc 8-K, filed Apr 14, 2022
Marimed Inc. (MRMD)
About this 8-K
Marimed Inc filed this 8-K on April 14, 2022.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01 Other Events.
On April 14, 2022, MariMed Inc. (the “Company”) issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference, announcing that the Maryland Medical Cannabis Commission has approved the transfer of 100% of the ownership of Kind Therapeutics U.S.A., LLC, a leading vertically integrated cannabis business, to the Company.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Press release dated April 14, 2022. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MARIMED INC. | ||
| Dated: April 14, 2022 | ||
| By: | /s/ Jon R. Levine | |
| Jon R. Levine, Chief Financial Officer | ||
Exhibit 99.1
MariMed Receives Maryland State Approval for
Transfer of Ownership of Kind Therapeutics USA
NORWOOD, Mass., April 14, 2022 — MariMed Inc. (OTCQX: MRMD) (“MariMed” or the “Company”), a leading multi-state cannabis operator focused on improving lives every day, today announced that the Maryland Medical Cannabis Commission (MMCC) has approved the transfer of 100% of the ownership of Kind Therapeutics U.S.A., LLC (“Kind”), a leading vertically integrated cannabis business to MariMed Inc.
The approval was granted during the MMCC’s Full Commission Meeting on Wednesday, April 13, 2022. The parties will now move forward to complete the closing of the transactions previously announced. Upon closing, Kind will become a wholly owned subsidiary of MariMed and its financials will be consolidated with MariMed’s in the Company’s public filings.
Kind operates under its cannabis cultivation and production licenses in its Hagerstown, MD manufacturing plant. It is completing development of a dispensary in Anne Arundel County under its provisional dispensary license. Kind’s cannabis products, including MariMed brands, are distributed to the approximately 100 medical dispensaries in the Maryland medical cannabis program. Maryland’s medical cannabis program has more than 139,000 registered patients and, according to the MMCC, the state receives more than 200 applications for medical cannabis cards every day. Maryland’s medical cannabis program generated more than $500 million in sales in 2021. According to Cowen Research, with a population of 6.2 million, Maryland’s medical cannabis program boasts some of the highest rates of registered medical consumers, incidence usage and spending, on a per capita basis, among all legal medical cannabis programs in the United States. The state legislature recently approved a November 2022 ballot referendum for voters to approve an adult use cannabis program.
About MariMed
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.
Investor Relations Contact:
Steve West
Vice President, Investor Relations
Email: ir@marimedinc.com
Media Contact:
Trailblaze PR
Email: marimed@trailblaze.co
Company Contact:
Howard Schacter
Chief Communications Officer
Email: hschacter@marimedinc.com
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