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Saturday, November 26, 2022

MariMed Inc (OTCMKTS: MRMD) Soars on Acquisition of BSC Group

MariMed Inc (OTCMKTS: MRMD) has been running up the charts in recent days after the recent acquisition of BSC Group, a highly respected cannabis firm headquartered in New Jersey that over the last three years has been engaged in competitive licensing, consulting and operations management across the country.

The global legal cannabis market is booming! according to a recent report published by Forbes, Brightfield Group projects that the global cannabis market was worth $7.7 billion in the end of 2017, and is projected to reach $31.4 billion by 2021 with the US currently dominating the market. According to a new report from Deloitte the legal recreational cannabis industry could be worth $7 billion annually in Canada by next year.

MariMed operates in the booming cannabis space responsible for many of the biggest recent winners in small caps; according to a recent report from Arcview Market Research and its research partner BDS Analytics, over the next 10 years, the legal cannabis industry will see much progress around the globe and spending on legal cannabis worldwide is expected to hit $57 billion by 2027. The adult-use (recreational) market will cover 67% of the spending; medical marijuana will take up the remaining 33%. The largest group of cannabis buyers will be in North America, going from $9.2 billion in 2017 to $47.3 billion a decade later. Of course much of this hinges on how laws progress

MariMed Inc (OTCMKTS: MRMD) is a spin-off from worlds, inc. which still owns 4.2 million shares of the Company. MRMD is a multi-state professional cannabis organization that develops, owns and manages cannabis facilities and branded products lines. MariMed’s team has developed state-of-the-art regulatory-compliant facilities in DE, IL, NV, MD, MA, and RI which are models of excellence in horticultural principals, cannabis production, product development, and dispensary operations.

In addition, Marimed licenses precision-dosed, cannabis-infused products to treat specific medical conditions or to achieve a certain result. These products are licensed under the brand names Kalm Fusion™ and Nature’s Heritage™, both of which were developed by the Company, and Betty’s Eddies™, acquired in October 2017. The Company also has exclusive sublicensing rights in certain states to distribute vaporizer pens developed by Lucid Mood™, as well as the clinically-tested medicinal cannabis strains developed in Israel by Tikun Olam™.

Mr. Med is doing big numbers! earlier this month the Company reported Q2 2018 financial results, posting revenue of $2.9 million for the three months ended June 30, 2018, an 81% increase from the same period in 2017. MariMed continued on a solid trajectory of year over year revenue growth that it has achieved each quarter since 2016.

Earlier this year MRMD acquired iRollie LLC, including its intellectual property (IP), clients, and its host of products and services. MariMed hired iRollie’s cofounders Luke Shepter and Joe Khoury to expand the iRollie business as well as to bring their expertise and services in house to support MariMed brands and clients. MariMed acquired iRollie and its executives in exchange for $600,000 in MariMed stock.

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Marimed is led by founder Bob Fireman, a visionary business leader in the evolving legal medical cannabis industry. A successful entrepreneur, investor, attorney, and developer of new innovative businesses across a variety of industries. Mr. Fireman recently shared his vision for Mr. Med “We are moving into Pensalvania right now, we are applying for licenses in Florida and other states. We hope to be the best of the east. We have developed our whole line of cannabis infused products that are precision dosed for specific sytoms and remedies. We have many strategic partners and we are building a network in all the other states across the country, were we have partners to distribute our licensed, branded products into up to 5,000 dispensaries coast to coast. Our market capitalization is rising fast, we are acquiring new assets and I think that downstream we will be the most successful publically traded cannabis Company in the United States of America.

Mr. Med also consummated its strategic investment in Sprout, an all-in-one CRM and marketing software company for marijuana dispensaries and cannabis brands. This completes the previously announced MariMed LOI for investment in Cannabis Venture Partners, parent company of Sprout. Sprout’s CRM and marketing automation software combines technology, data and content to help dispensaries and cannabis brands increase sales, improve customer loyalty and reach more customers. MariMed intends to accelerate the growth of Sprout’s client base by marketing it to the top dispensaries and cannabis companies in the United States.

On October 29 MRMD announced it has finalized the acquisition of BSC Group, a highly respected cannabis firm headquartered in New Jersey that over the last three years has been engaged in competitive licensing, consulting and operations management across the country. BSC founders and managing partners, Brian Staffa and Amber Staffa, will join the MariMed leadership team.

Brian and Amber will help guide MariMed’s strategy for new markets like New Jersey, where lawmakers inch closer to consensus on adult use legislation. New Jersey represents just one of the markets being eyed by MariMed as they aggressively pursue new opportunities across the U.S. and abroad with their added bandwidth.

“Our team has worked with BSC Group on various projects in the past, and their laser focus made them an ideal partner to help fuel MariMed’s forward momentum,” said MariMed CEO Bob Fireman. “We are excited to bring on Amber and Brian, who have seasoned cannabis operations, corporate strategy, branding and marketing expertise. An organization is only as good as the people in it. The Staffas share our vision and work ethic and will be a great addition to our team.”

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Currently trading at a $790 million market valuation MRMD has $5 million in the treasury, $45 million in assets, manageable debt and fast growing revenues reporting $2.9 million in sales for the three months ended June 30, 2018, an 81% increase from the same period in 2017. MRMD is becoming an early leader in the booming pot business developing cannabis facilities and brands of cannabis infused products in multiple states throughout the US. Mr. Med has an ambitious vision to become the most successful publically traded cannabis Company in the United States of America. We will be updating on MRMD when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MRMD.

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Disclosure: we hold no position in MRMD either long or short and we have not been compensated for this article.

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