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NORWOOD, Mass., Aug. 15, 2019 (GLOBE NEWSWIRE) -- MariMed Inc. (OTCQX: MRMD), a premier cannabis and hemp multi-state operator focused on health and wellness, has qualified to trade on the OTCQX® Best Market.
The OTCQX Best Market is for established, investor-focused U.S. and international companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice for corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosures, and have a professional third-party sponsor introduction.
“We expect trading on the OTCQX Best Market to elevate our profile in the investment community, improving liquidity and broadening our shareholder base,” said MariMed CEO, Bob Fireman. “This represents another next step in our capital market and corporate development strategy designed to build shareholder value and advance MariMed as a leader in cannabis for health and wellness.”
The company markets the highest quality of cannabis and hemp products nationwide with a portfolio of innovative brands. It recently reported second quarter 2019 revenues of $25.7 million, up 775%, with net income of $4.7 million.
"We're excited to welcome MariMed to the OTCQX Best Market," said Jason Paltrowitz, EVP of corporate services at OTC Markets Group. “After trading on our OTCQB Venture Market since 2017, MariMed's graduation to the OTCQX Best Market demonstrates how companies can leverage the OTC Markets Group tiers to build visibility and long-term shareholder value."
MariMed begins trading today on the OTCQX under the symbol “MRMD.” Investors can find current financial disclosures and real-time Level II quotes for the company at www.otcmarkets.com.
MariMed, a multi-state cannabis operator, is dedicated to improving the health and wellness of people through the use of cannabinoids and cannabis products. 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. MariMed is at the forefront of science and innovation through research developed by its lab technicians and medical advisors resulting in industry leading products and brands, including “Kalm Fusion” and “Betty’s Eddies”. These precision dosed products are focused on specific medical symptoms which are licensed and distributed across the country.
In 2019, with enactment of the 2018 US Farm Bill, MariMed formed MariMed Hemp, a wholly owned subsidiary, to leverage its seed to sale cannabis platform and experience into the emerging hemp-based CBD industry. The Company acquired a significant stake in Kentucky-based GenCanna Global, a national and international leading cultivator, producer, and distributer of hemp and GMP quality CBD oils and isolates. With this strategic relationship MariMed Hemp has developed and is marketing a portfolio of CBD brands and products to multiple retailers and direct to consumers both domestically and internationally. The Company recently launched its Hemp Engine™ “store within a store” distribution platform for retailers. MariMed Hemp is actively pursuing other hemp industry business opportunities with genetics, farming, biomass, and new and innovative technologies.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.
To learn more, visit www.otcmarkets.com.
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