MariMed Inc.
NORWOOD, Mass., July 02, 2024 (GLOBE NEWSWIRE) — MariMed Inc. (“MariMed”) (CSE: MRMD) (OTCQX: MRMD), a leading multi-state cannabis operator focused on improving lives every day, today announced that it received approval of the Massachusetts Cannabis Control Commission (“MCCC”) to commence adult-use retail sales at its Quincy Panacea Wellness dispensary. Panacea Wellness Quincy is the third MariMed dispensary in Massachusetts that offers adult-use sales, which is the maximum permissible by state law. The other two adult-use dispensaries are in Beverly and Middleboro.
The Company commenced adult-use sales in Quincy on July 2, 2024. The dispensary, which has been operating as a medical-only location, offers a curated selection of products from across the Company’s award-winning brand portfolio. They include Nature’s Heritage flower and concentrates, Betty’s Eddies fruit chews, Bubby’s Baked soft-baked goods, Vibations hydrating cannabis drink mixes, and the full suite of our InHouse branded products.
In addition to the three Panacea Wellness locations, MariMed’s branded cannabis products are distributed to over 200 dispensaries in the Massachusetts cannabis market, which, according to the MCCC, generated $1.8 billion in total cannabis sales during 2023.
The Company also announced regulatory approval updates that may have a positive impact on our future operational and financial results.