NORWOOD, Mass., July 02, 2024 (GLOBE NEWSWIRE) — MariMed Inc. (“MariMed,” “the Company”) (CSE: MRMD) (OTCQX: MRMD), a leading multi-state cannabis operator focused on improving lives every day, today announced the closing of its acquisition of the operating assets of Our Community Wellness & Compassionate Care Center, Inc. (“Medleaf”) in Prince George’s County, Maryland on April 5th. Just prior to closing, MariMed paid the state’s adult-use conversion fee and subsequently received an adult-use license to sell retail cannabis products from the Maryland Cannabis Administration (“MCA”). The acquired dispensary has been closed since July 1st, 2023. The Company expects to reopen the dispensary and begin adult-use retail sales by the end of the second quarter, upon regulatory approvals.
This marks MariMed’s second adult-use Thrive Wellness dispensary in Maryland that the company owns and will be located at 9520 Marlboro Pike in Upper Marlboro, Maryland. MariMed also owns and operates a Thrive Wellness dispensary in Annapolis and a cultivation and processing facility in Hagerstown. MariMed plans to continue seeking additional dispensary acquisitions to achieve the maximum of four allowed in the state.
“We are thrilled to announce the closing of this acquisition,” said Jon Levine, MariMed’s Chief Executive Officer. “Maryland is a