NORWOOD, Mass., Aug. 08, 2022 (GLOBE NEWSWIRE) — MariMed, Inc (CSE: MRMD), (OTCQX: MRMD), (“MariMed” or the “Company”), a leading multi-state cannabis operator focused on improving lives every day, today announced it signed a definitive agreement to acquire the ownership interests in a conditional adult-use cannabis dispensary license in Illinois. The dispensary license is for the BLS District #16, which is situated in the Central-Eastern part of Illinois, bordering Indiana. The closing of the acquisition is dependent on certain conditions, including resolution of any remaining legal challenges affecting nearly 200 social equity dispensary licenses, and regulatory approval for the acquisition
Upon closing of the acquisition, MariMed will commence operation of its fifth Thrive adult-use dispensary in Illinois, which is expected in 2023. MariMed currently owns and operates four adult-use dispensaries in Anna, Harrisburg, Metropolis, and Mt. Vernon. Additionally, the Company is constructing a state-of-the-art craft cultivation and processing facility in Mt. Vernon, Illinois, making MariMed a full vertical operator in the state when completed. The Mt. Vernon facility can house up to 14,000 square feet of canopy, an extraction lab to produce concentrates, and a production kitchen for the manufacture of edibles and other derivative products.
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