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MariMed Granted Approval to Open its Third Grownup Use Dispensary in Illinois – Yahoo Finance

MariMed Inc. (MRMD:OTCQX) (the “Company” or “MariMed”), a leading multi-state cannabis and hemp operator focused on health and wellness, today announced it received an adult use license from the Illinois Department of Financial and Professional Regulation for its third adult use dispensary in Illinois. The dispensary is in Mount Vernon, IL, and will be operated under the Thrive brand, open for business on September 21, 2020 with a grand opening ceremony on September 25, 2020.
” data-reactid=”12″>NORWOOD, Mass., Sept. 21, 2020 (GLOBE NEWSWIRE) — MariMed Inc. (MRMD:OTCQX) (the “Company” or “MariMed”), a leading multi-state cannabis and hemp operator focused on health and wellness, today announced it received an adult use license from the Illinois Department of Financial and Professional Regulation for its third adult use dispensary in Illinois. The dispensary is in Mount Vernon, IL, and will be operated under the Thrive brand, open for business on September 21, 2020 with a grand opening ceremony on September 25, 2020.

Located in a newly remodeled 5,000-square foot building in a major retail area at the crossing of interstate highways US 64 and US 57, Thrive Mt. Vernon will market adult use cannabis and cannabis products in a previously underserved area. The location provides easy access to customers 21 years and older in the region as well as to those traveling into Illinois from Indiana, Kentucky, Tennessee, and Missouri.

“MariMed continues to achieve sales success in the Illinois market and we are proud to expand our presence with the opening of our third location,” said Gorgi Naumovski, VP of MariMed Retail Operations. “This facility in Mt Vernon will create approximately 25 local jobs while it contributes to MariMed’s increasing revenue in Illinois’s lucrative adult use legal cannabis market.”

The dispensary will offer a variety of cannabis products from flower, topicals, edibles and concentrates, across multiple brands and product sizes, flavors, and other options, sourced from a majority of the 21 cultivators in the state. Consumers will also have access to a large selection of ancillary products. Additionally, the dispensary will feature an education and training area where interested qualified customers may learn about the attributes of cannabis usage, the technologies involved in cultivation and production, and career opportunities in this emerging industry.

“MariMed consolidated the Illinois cannabis licensed subsidiaries when the State of Illinois approved the transfer in October of 2019,” said Jon Levine CFO. “The revenue from this new Mt. Vernon dispensary along with the revenue from our dispensaries in Harrisburg and Anna will increase our quarterly revenues as we continue to grow our core cannabis business.”

MariMed plans to open a fourth dispensary for adult use sales in 2021, pending all necessary licensing approvals.

MRMD@kcsa.com with “MRMD” in the subject.” data-reactid=”23″>To be added to the email distribution list, please email MRMD@kcsa.com with “MRMD” in the subject.

For additional information, visit marimedinc.com.

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adiehl@marimedinc.com” data-reactid=”29″>Media Contact
Abigail Diehl
MariMed Inc.
adiehl@marimedinc.com

agraf@kcsa.com” data-reactid=”30″>Annie Graf
KCSA Strategic Communications
agraf@kcsa.com

MRMD@kcsa.com” data-reactid=”31″>Investors
KCSA Strategic Communications
Scott Eckstein / Elizabeth Barker
MRMD@kcsa.com

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